Integrated planning means that processes from different business areas such as finance, sales, and operations are displayed on a single platform. This results in significantly faster planning, and more accurate and usable forecasts. How can integrated planning be achieved with Jedox? That's what this article is about!
Business intelligence (BI) has opened new horizons for companies. It is a very dynamic field, which takes corporate performance management to a higher level. While Excel spreadsheets used to be the main tool for planning and analysis, BI software is replacing traditional technology and delivering superior performance.
Due to technological advancement, planning, process organisation and analysis reporting can be done much faster (even in real-time). The results can be the cornerstone of decision-making.
Integrated planning supported by business intelligence, means that processes from different departments converge on a single platform. As a result of data integration, the integrated system can consider all relevant factors when compiling analyses and forecasts. It is not difficult to see that decisions based on isolated pieces of information are fraught with the potential for error. But if you have a platform where all the relevant information is in one place, you can make more informed and confident decisions.
Jedox is an EPM (Enterprise Performance Management) software that simplifies the planning, analysis, and reporting processes. It brings all the different areas together on one integrated platform, which means that all the relevant data is centralised in one place. Thanks to the integration, all the relevant factors and aspects are considered in the analysis, planning, and forecasting phases, ensuring a complete picture of the current situation. It provides self-service budgeting, planning, analysis, intuitive analytics, and BI dashboards.
With Jedox, information and data are collected automatically from each department in real-time. The compilation of databases and data integration allows corporate financial planning to be continuous rather than periodical. This also allows forecasts to be continuous, which in turn supports the company to react flexibly and quickly to changes.
The need for immediacy means that traditional technologies, such as spreadsheets, are no longer sufficient, are too slow and full of limitations, thus a more modern approach should be adopted. Business intelligence-based integrated planning, offered by Jedox, is an excellent replacement for Excel. The software has the advantage of building on the knowledge of the familiar spreadsheet but goes well beyond it. Consequently, the staff will have no difficulty at all learning to use the software.
Besides planning, such as budgeting, reporting is another important administrative burden. The integrated system automatically generates reports based on the criteria you specify. In the process, it takes into account all the information that has been integrated into the system, producing a comprehensive analysis highlighting the most important figures and indicators.
The reports are based on data, which are usually all over the place in an organisation. To help manage this huge amount of data, Jedox has designed Assisted Planning, which recognises when data is missing, when a value is too out of line, meaning it supports automated data cleansing.
Curious to know how Jedox works and how it could benefit your company? Find out more details on the Bixpert website!
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