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Tax & AccountingOctober 27, 2022

3 ways peak performing firms overcome challenges with business intelligence tools

Enough with the static reports and outdated manual data compilation collection process. If you want to grow and scale your firm, start incorporating business intelligence tools into your firm management.

Using modern business intelligence tools can not only automatically crunch and present data. These tools can also be used to help your firm make strategic decisions and take action so you can mitigate risk, reduce productivity constraints, and increase visibility.

Future-focused firms are using business intelligence tools to create near real-time data, rather than simply running monthly reports that only allow reactive decisions based on oftentimes outdated information.

Time and time again, when firms are not using business intelligence tools, their reporting process can be time-consuming, requiring manual compilation of data from multiple sources, reformatting, and manipulation. To avoid this, future-focused firms are driving change using intelligence tools so they can increase productivity, scale their firms, and see a dramatic increase in ROI. And yes, accountants love data, and using it to drive decision-making and strategic planning. But without context, rows and rows of this data can become overwhelming and turn into meaningless white noise. 

Not only do business intelligence tools allow your firm to create reports on current, real-time data, but these tools also have the ability to create at-a-glance readability with data visualization tools. This makes the numbers, trends, and other information easier to digest at a glance, so you can spend more time using the data and seeing an increased rate of return.

We get that changing up how you’ve always done business, created reports, and devised a strategic growth plan for your firm can feel overwhelming, and complex. 

That is why we have put together an e-book that dives deeper into teaching you how to overcome challenges within your firm by utilizing business intelligence tools. This eBook covers how your firm can use these business intelligence tools to:

  • Mitigate Risk with Data-Driven Insights 
  • Create Capacity & Reduce Productivity Constraints 
  • Increase Visibility at All Levels

Learn the detailed, in-depth ways peak performing firms are overcoming challenges with business intelligence tools when you complete the form below and download the eBook.

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and expertise that helps tax, accounting and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed and accuracy. 
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