Small Business Analytics and Finance Automation

There are a number of solutions out there for small business entrepreneurs. A recent development has been announced by Profitably which makes it easier for small businesses to access finance automation packages. This development is about leveraging cloud computation for small businesses to have easier access to data so that you as an entrepreneur would know what drives your growth and manage your business successfully. 

There are some entrepreneurs who are still on the traditional side which means that they are using business intelligence as opposed to business analytics. Business intelligence is basically when you use consistent metrics to analyze past performance and use it as a guide to your business plan.

Business analytics is when you use different applications, practices and techniques which are fairly new to gain more information on how your small business is faring in the industry which in turn would give you more advantage on what to do next on your business plan.
Business analytics have metrics which would give you more information on the performance of your business, no matter how small it is. I am in no way saying which applications or companies you should be dealing with. You have to do some research and make the decision which fits your business goals. 

No comments: