EiB Financial Analytics vs. Sage BI - A Comparative View
From finance to CRM, Sage is undoubtedly a preferred choice for effectively managing all of your business processes within one single application environment…
Sage BI provides management reporting for simple Sage 200 companies, but effective financial reporting often requires more and that’s where EiB Financial Analytics thrives and is the logical route for new implementations and Sage 200, 1000 and X3 customers transitioning from Sage BI.
To help you get the right reporting software for Sage, we’ve taken a candid look at the most important features which any business should be considering before adopting a new BI solution, and compared Sage BI with our own EiB Financial Analytics BI capabilities.
We used to be dependent on multiple systems in order to record both financial and non-financial information and report all the results in combination back to our CEO, Directors, and Clients.
The introduction of EiB Financial Analytics not only gave us the ability to automate the production of all our reports, consolidating the data that was being produced from both SAGE 200 and our other systems, both faster and more reliably, but it also significantly increased our capacity to afford much more time on analysing and understanding our numbers. So whilst we would never surrender Sage as our legacy accounting system, we are now equally dependent on EiB Financial Analytics to deliver the advanced analytical reporting which we never previously had, not to mention the amount of time, effort and investment we have saved through the solution.
Before working with EiB, we had 38 schedules and 38 source reports, each with a 5-10 minute opening time, and then a 30 minute data refresh. We were only able to analyse our financial data, with everything manually formulated in order to produce these same reports on a weekly basis, so you can only imagine how tedious and inhibiting the financial reporting process was!
Since the introduction of EiB Financial Analytics, we have actually increased our number of schedules to 40, but we now just have 2 source reports, with only a 1-3 minute opening time and a 3-5 minute data refresh, and everything is fully automated too! We can also now view both our financial and KPI data in advanced Excel reports which would be impossible to produce without EiB. The ease of scalability allows us to add new departments into Sage, and the data is instantly reflected in our EiB solution. It really has been a complete revelation for our business, and we’ve not even begun to explore the new capabilities which EiB Analytics has to offer!
Over the last few years we have referred many of our clients to Excel in Business, whose EiB Financial Analytics solution provides the perfect accompaniment to our clients’ Sage systems.
This has allowed our clients to take-advantage of the solution’s familiar Excel functionality and gain powerful insight into their financial data using a suite of standard reports that can be easily customised, and scaled across their business, regardless of size.
Due to the complex nature of our products, we have approximately 18,000 individual product codes being held in the Sage 200 stock module, each arranged in multiple product groups. This, as I am sure you can imagine, made the reporting process both really time consuming and costly.
We used to run several Sage 200 reports, and then use Excel to manually piece information together, resulting in slow sales results and our inability to analyse the complexities within our data, so essentially our sales team were ‘running blind’. Key personnel were expending considerably more effort on manipulating the data into what they thought were meaningful reports, rather then analysing and understanding what the data actually meant for the business, and more importantly using the reports to inform us on what changes we should be making in order to improve our efficiency and profitability.
Since the introduction of EiB Financial Analytics every sales team member can pull whatever type of data they need from Sage, in any sliced and diced way they like, which has really helped them focus on the weaknesses within their sales. Furthermore, we now have live and accurate information available ahead of customer appointments, which enables us to plan our forthcoming discussions and focus on the critical areas to improve sales. So, not only have we reduced our monthly reporting cycles by over 5 days because of EiB Analytics, but more importantly we have seen a notable increase in sales since beginning our partnership together.
To Learn More About How EiB Financial Analytics can Augment your Sage Solution Contact Us Today On
“The original mandate for our sales reporting solution has been exceeded in the extreme. We’re now not only able to produce the original reports, but the ‘drill-down’ on these reports enables the sales team to analyse their sales, focus on the areas & customers that are not fulfilling their expectations, and even check that what they imagine is happening in terms of orders, is true. EiB Analytics really has become an invaluable asset to our business!”