Tag: Augmented Analytics

4 Ways in Which Integrated Augmented Analytics Builds on Tally ERP Success!

If your business is using Tally^® ERP, your users are already familiar with the benefits and features of the solution. Tally includes business management functionality for banking, payroll management, purchasing, sales, accounting, taxes, manufacturing and inventory and allows team members and professionals to enter and manage data and to provide reports to colleagues and clients.

‘With easy-to-use features designed for business users, integrating augmented analytics with Tally ERP allows team members to do their jobs and to add value without significant investment of time and effort to learn the solution.’

In today’s competitive environment, every business is looking for ways to optimize resources and to provide proven processes and metrics that manage and monitor results and help the organization make decisions at every level. To that end, more than 65% of global enterprises increased spending on analytics within the past two years and that trend shows no signs of slowing. Analytics ensures fact-based decision-making and speeds the process of problem solving, making the enterprise more agile.

This approach can be used to improve the value of the Tally ERP installation within the organization and leverage the return on investment (ROI). In this article we discuss four (4) ways in which integrated Augmented Analytics can take your Tally users and results to the next level.

Comprehensive View of Your Data

Many business users adopt and leverage a module or a set of features that they find the most useful for their common tasks. But if your team members are not seeing the big picture or if they are not able to dive into data across modules to understand the ‘why’ of results or to gain insight into what is working and what should change, they cannot combine their domain or professional knowledge with the data contained within the Tally ERP solution to make better recommendations and suggestions and to monitor and adapt. With features like visualization, dynamic charts and graphs, modern business intelligence (BI) and key performance indicators (KPIs), users can achieve a clear picture and go beyond data entry and simple reporting to analyze and gain insight into what is really going on in the business.

Ease-of-Use for Business Users

While organizations may be well aware of the benefits of analytics and may wish to democratize data and improve data literacy, it can often be challenging to get users to adopt analytics because there is a perception that the user must have analytical skills, or must learn and use difficult software or algorithms. With easy-to-use features designed for business users, the augmented analytics approach allows team members to do their jobs and to add value without significant investment of time and effort to learn the solution.

Mobile, Secured Access

Whether your business is transitioning to a remote work environment or your team members are on the road visiting clients or working in other office locations, secured mobile access to the Tally ERP data and the integrated augmented analytics environment is crucial to productivity and collaboration. With near real-time access to key indicators, trend tracking and analysis, recent transactions, ledgers, vouchers, products, inventory and reporting, in a seamless search environment, business users can complete tasks, monitor and report on progress and stay in touch with what is happening.

Pre-Built, Flexible Reports

Taking the existing Tally ERP reporting environment beyond its capabilities to add pre-built analytical reports can help team members see and understand data in a flexible reporting environment with dashboards, overview reports, sales and purchasing reports, bank and cash, payables and receivables, inventory, taxes, cost center, ledger, drill down, account statements and other reports to simplify and clarify decisions.

‘In today’s competitive environment, every business is looking for ways to optimize resources and to provide proven processes and metrics that manage and monitor results and help the organization make decisions at every level.’

Find out how the addition of SmartenApps For Tally will support your accounting-related analytical initiative and bring your team and your business to the next level. Users can Download And Register for SmartenApps for Tally and use Tally data to analyze, explore and clarify.

Web Access to Accounting Analytics Reporting is Crucial to Business Success!

The Accounting Research Center and Continuous Auditing & Reporting Lab at Rutgers University stated that, “The audit profession is leveraging technology and electronic information to expand the auditor’s ability to access and analyze vast amounts of information.”

The recognition of this new reality and its importance is crucial to building a foundation of a fact-based, analytical approach to accounting, auditing, and other finance-related functions in businesses all around the world. In the past, the accounting function was often seen as a ‘bean counter’ function, producing simple, columnar reports and tracking expenses and revenue.

‘A rich array of built-in, web-based reporting access and, for every accounting and these reports can be used as a foundation for the new analytical environment and to encourage the use of that analysis to make decisions and recommendations.’

Today, access to data analytics is crucial to enterprise success and, if accounting and auditing professionals have that access in a simple, easy-to-use interface, it is more likely they will adopt and use these new tools.

Users of the Tally^® ERP Solution now have the ability to access and analyze data via web browser, and can leverage these integrated analytical tools in a simple environment with built-in reports that are easy to produce and easy to understand. This type of business user analytics can take the accounting function to another level by adding value and insight that can be used to advise clients and colleagues and by spotting trends, identifying and solving problems and capitalizing on opportunities.

In this article, we highlight the types and purpose of these analytical reports for reference and the value of these web-based reporting tools.

OVERVIEW

Overview of key business parameters, e.g., Sales, Purchase, Payable & Receivable, Income & Expense, Cash & Bank and Duties and Taxes, and monthly trends. Also includes Top and Bottom Analysis, Contribution Analysis, and KPI analysis of these key indicators.

SALES & PURCHASE

Explore sales to date, and monthly, quarterly and yearly KPI and trends. Analyze monthly sales, top customers and detailed sales register.

BANK & CASH

Reveal trends and patterns in banking and cash results over a period of time. Users can compare results from previous time periods.

PAYABLE & RECEIVABLE

Breakdown payables and receivables by creditors and debtors as well as by products, services and components. Look for trends for overdue collections.

INVENTORY

Analyze inventory for shortages and overages. Explore overstock, understock, suppliers, products and shipping and distribution.

TAXES

Examine previous taxes, tax due summary, estimate tax obligations, analyze taxes for future periods.

COST CENTER

Analyze cost center balances and movements by cost center groups, cost center accounts as well as their association with ledgers.

LEDGER

Analyze ledger entries and balances in details with drill-down to individual voucher level.

DRILL DOWN

Pre-built drill-down views to balances at higher level groups, and drill down in hierarchy to ledger and transaction level.

ACCOUNTS STATEMENTS

Ideal for accountants for statutory submission purposes, and to review balance sheet statement, trial balances, profit and loss statements and more.

REPORTS

Various interactive reports with drill-down to slice and dice data by vendor, product, service, cost, sales person, location, customer, inventory, purchasing, costs, etc.

As you can see, there is a rich array of built-in, web-based reporting access and, for every accounting and these reports can be used as a foundation for the new analytical environment and to encourage the use of that analysis to make decisions and recommendations.

‘Users of the Tally^® ERP Solution now have the ability to access and analyze data via web browser, and can leverage these integrated analytical tools in a simple environment with built-in reports.’

Find out how the addition of SmartenApps For Tally will support your accounting-related analytical initiative and bring your team and your business to the next level. Users can Download And Register for SmartenApps for Tally and use Tally data to analyze, explore and clarify.