What to Consider When Evaluating ERP with Business Intelligence Capabilities
Costpoint Business Intelligence Helps You get the Project Insight you need from Your Data
It has often been said that ‘knowledge is power’ and that data is the pathway to knowledge. However, many government contractors today can be data rich and knowledge poor because they don't have the time or the means to easily extract insight from their data.
Costpoint Business Intelligence is changing this by offering pre-built, interactive dashboards that make it easy for business managers to monitor project performance against actuals and targets, helping them translate raw data into information-rich presentations that incorporate dynamic charts, graphs, and multi-level comparisons.
Costpoint Business Intelligence lets you track multiple key performance indicators in a single view – on any device.
In this blog, we will learn how an Enterprise Resource Planning (ERP) system with role-based dashboards and embedded business intelligence helps your teams spend less time seeking answers and more time uncovering insights to move your business forward. Let’s dive into three crucial factors your company should weigh when evaluating ERP with business intelligence capabilities:
Factor #1 – Have you invested in ERP that empowers your business leaders to proactively answer crucial questions about project performance – and take corrective action when needed?
Can your business development, project, finance, HR, and executive leaders all quickly and confidently spot early warnings before projects go off track?
Because each team has different data needs, Costpoint Business Intelligence offers an easy way for everyone in your organization to get the real-time information they need, in the format they want, at the level they require. Users have access to built-in, role-specific dashboards loaded with key performance indicators.
Using dashboards makes it simple to uncover, test, and validate business hypotheses on the fly. Users can click on interactive elements within the dashboard and those become filters, or drill down into increasing levels of detail to customize time dimension, organizations, and performance metrics.
Factor #2 – Does your ERP system analyze all facets of your project-based business in real-time?
If you are relying on disparate systems or islands of data across many functional areas, you may be jeopardizing growth and stifling collaboration among your business and project leaders. Costpoint Business Intelligence unlocks the power of your ERP investment by providing comprehensive and flexible data mining across the entire project lifecycle. We wrap business intelligence around the entire solution, connecting all of your Costpoint data and providing role-based analysis that can be leveraged by front office, back office, project, and executive teams (including contracts, opportunities, budgeting & planning, finance, procurement, manufacturing, time, payroll, and HR analysis). This complete visibility ensures teams are working from a single, shared version of the truth for consistency, better communication, and optimal performance.
Translate raw data into visually rich presentations with Costpoint Business Intelligence
Factor #3 – Can you present analysis as key performance indicators?
Every organization measures itself in a slightly different manner, and government contractors have additional, often required, performance metrics they need to track. If your business insights today are primarily historically focused, or if they are presented mostly as tables or static read-outs, it may be time to give your metric measuring a boost. Costpoint Business Intelligence’s simple dashboard authoring helps bring your data to life with an array of compelling visualizations in a secure environment. For optimal results, users can drag and drop in new visualizations presenting data as key performance indicators, thereby monitoring business performance versus forecasts. Also, uploading data from Excel spreadsheets or third-party applications to Costpoint to incorporate into dashboards, is quick and easy.
For a closer look at how Costpoint Business Intelligence provides contextual, real-time project information out of the box to help drive faster decision-making and promote collaboration, check out this on-demand webinar hosted by Deltek Product Director Rick Miller and Principal Solution Engineer Justin Summer. In the 30-minute webinar, you will discover how Costpoint’s role-based dashboards, which are geared toward project and business managers, help bring your project data to life with compelling visualizations in a secure environment.