(Jedox topped 12 categories in this year’s BARC Planning Survey (peer group “development-oriented planning solutions”). Our 12-part blog series tells you why “Business Benefits”, “Ease of Use” or “Implementation support” should be on your check list when choosing business software. 12th category: Business Benefits)
Why New Business Challenges Increase the Need for Enterprise Planning & BI
For anyone looking for a basic understanding of why Enterprise Performance Management and Business Intelligence is increasingly vital to today’s enterprises, we’d recommend this wonderful infographic done by the Master of Science in Computer Information Systems Online Program of Boston University. Here’s a synopsis of what you’ll find there:
- By the end of last year, more than 30 percent of analytics projects delivered insights based on structured and unstructured data.
- Thirty percent of mid-sized businesses say reporting analysis is the number one business analytics capability they are most interested in.
- Fifty-nine percent of CFOs chose facilitating analysis and decision-making as the number one process area that needed technology investment that a BI & EPM tool can address.
- Twenty-four percent of mid-sized businesses say faster time-to-insight is what they want to achieve the most by implementing business analytics—more than any other benefit.
- Forty-seven percent of business professionals report dealing with slow or untimely access to information that impedes their ability to make decisions could be improved with EPM & BI.
Benefits all functioning areas
- Where business professionals reported, self-service EPM & BI would be used:
→ 65 %: Middle office (finance, accounting, HR)
→ 62 %: Front office (sales, marketing, service, and support)
→ 54 %: Back office (operations, supply chain, inventory)
→ 22 %: R&D
- Twenty-two percent of mid-sized businesses report budgeting, planning, and forecasting are the business analytics capabilities they want.
- Twelve of the top 20 areas that require improved technology support can be addressed by EPM & BI.
How Jedox Delivers
By providing unified Enterprise Performance Management, Business Intelligence, and Analytics, Jedox delivers a 360-degree view of the business that empowers organizations to analyze historical data for meaningful insight, and to plan and forecast intelligently. The result is greater transparency across the enterprise, faster planning processes, and integration of planning and reporting in a single tool.
What Users Are Saying about Business Benefits
For those involved in business software selection, among the most important resources are the independent assessments done by the Business Application Research Center (BARC). BARC released its 2016 Planning Survey, the world’s largest survey of planning software users.
Among those using development-oriented planning solutions (i.e., solutions that allow customers to implement totally individual planning requirements), Jedox ranked number one in terms of business benefits with 7.7 points, scoring higher than the peer group average in that sector (4.3) and higher than its closest competitor (5.7). Here is BARC’s viewpoint on Jedox’s top-ranking performance in this category:
“Business benefits often achieved with Jedox’s integrated planning and BI tool include increased transparency of planning, increased planning frequency/faster planning, and improved integration of planning with reporting/analysis. When combined, these benefits lead to a better quality of planning results.”
(Source: BARC THE Planning Survey 16)
When customers speak, prospective customers listen
“Jedox has massively accelerated and simplified our planning process. Expenditure is down to at least a third of what it used to be!” – Oliver Dammann, Sales Controlling, MBG International Premium Brands