TEKNOSERVICE

TEKNOSERVICE: New Partner of RCM Software

TEKNOSERVICE, a leading Spanish hardware manufacturer, has recently joined the network of partners of RCM Software. We are very pleased to share this news with our community because TEKNOSERVICE possesses two characteristics that define our partners very well:

  1. Providing excellent service to their clients
  2. Constant innovation in their products and services.

The leadership of TEKNOSERVICE has enabled it to achieve various objectives, among which we highlight:

The only Spanish company approved by CERN

In 2013, it became the only Spanish company approved to provide computer services for CERN, the European Organization for Nuclear Research. In 2017, they renewed their relationship with CERN by implementing TTL servers for their computing center.

TEKNOSERVICE has managed to maintain this milestone by continuing to supply cabinets and storage equipment to Switzerland. Currently, it has prominent clients such as:

  • All regional governments
  • Provincial councils
  • Universities
  • Study centers
  • 2,000 municipalities

Own operating system: TLL OS

Another notable achievement of TEKNOSERVICE is the creation of its operating system, called TLL OS, which, thanks to its great flexibility and security, adapts to the needs of each company regardless of the sector to which it belongs.

Advantages of the alliance

The great potential represented by the combination of the credentials that attest to TEKNOSERVICE’s experience and quality, combined with the technological innovations we work on at RCM Software to offer increasingly competitive tools and solutions, allows us to be confident in the satisfactory results we will see in the future.

With this addition to the network of partners of RCM Software, TEKNOSERVICE’s clients will be able to enjoy all the benefits of the products developed by RCM Software in all their projects related to business intelligence, data analytics, data orchestration, artificial intelligence, data virtualization, and other related topics.

BI4Web V.23

BI4Web V.23 is now available

We have excellent news for our entire community. BI4Web V.23 is now available with multiple innovations and improvements. We share the most prominent ones here:

A renewed experience

BI4Web V.23 is available as a PWA (Progressive Web App). It allows you to access it more easily from any mobile or desktop device without installation and with an experience much closer to the applications we already know.

Another advantage of PWAs is that you can add their icon to both the home screen and the device’s taskbar. It facilitates access since only one click is needed to launch the application.

A new dimension in data analysis

This new version incorporates the functionality to calculate and represent trend lines. It will allow users to identify patterns and predict future behaviors based on historical data. These patterns can be upward trends, downward trends, seasonalities, and cycles.

Improved style application

Simple data control applies all styles correctly. In this version, we fixed those few cases where styles did not work properly. Moreover, helpers have improved by having an alignment that favors their presentation.

Enhanced Excel export

In BI4Web V.23, the export to Excel format has resolved export errors that happened when exporting from the grid or pivot grid control, and the cell with numeric values was a string (Alphanumeric).

Additionally, unlike previous versions, the width of the columns adapts to the length of the length value in every row. It makes the exported document look much better and prevents values from being unorganized.

Another detail of this version is that the values totals in Excel-exported documents are highlighted in bold to make them easier to differentiate from others.

If you want to update to the new version, contact your BI4Web distributor or contact us by writing to rcm@rcm.es

To read the complete documentation of the new version, click here.

ANDICOM 2023

We are ready for ANDICOM 2023!

On September 6, 7, and 8, we will participate for the second time as exhibitors at ANDICOM. The most relevant event in the ICT industry in the region will take place at the Las Américas Convention Center in Cartagena de Indias under the motto “Get Into The Digital World.”

In its 38th edition, ANDICOM aims to surpass the figures achieved in 2022:

  • Over 5,000 attendees
  • 1,500 participating companies
  • Participants from more than 30 countries.

Since our first participation in 2016, we have witnessed the growth of this event, which has become a benchmark as a meeting point for various business sectors to showcase and implement new technological trends and tools.

During our participation in 2016, our founder, Jesús Serrano, shared technological trends in business intelligence and data analytics with industry leaders and the Colombian Minister of ICT, David Luna.

What will attendees find at ANDICOM 2023?

Visitors to the event will find us at the ACCIO Bogotá booth – Catalan Agency for Competitiveness (10.7). Our team will share the latest updates on our tools and solutions in business intelligence, data management, data analysis, embedded analytics, data warehouse, and more. In particular, they will learn how BI4Web and DataGate help companies evolve on their digital transformation journey.

Additionally, they will discover commercial and academic proposals covering topics as relevant as artificial intelligence, robotics, virtual and augmented reality, Blockchain, 5G, and the Internet of Things. There will also be opportunities for networking and exploring new possibilities.

We look forward to seeing you there.

The Value of Business Intelligence in Financial Management

The Value of Business Intelligence in Financial Management

Decisions made by financial management have a significant impact on a company’s operation, development, and growth. For this reason, any improvement that enables more assertive decision-making holds considerable value. In this regard, companies with Business Intelligence solutions in their financial management can access pertinent, up-to-date, and accurate information that strengthens the decision-making process.

This article will discuss the impact of improvements driven by Business Intelligence in financial management.

Understanding Financial Performance

BI offers a clear and comprehensive view of relevant financial metrics, such as revenues, expenses, and profitability. It assists financial teams in identifying opportunities to save costs and create new revenue streams.

It is possible through dashboards and financial reports developed within the BI system. These provide stakeholders with the information they need to detect patterns and trends, enabling them to initiate necessary actions.

Some of the ratios that can be highly useful for financial management are as follows:

  1. Solvency or Liquidity Ratio measures the company’s ability to meet short-term debts. If this indicator is below one, the company is technically facing insolvency; if it’s above two, there are excess circulating idle assets.
  2. Quick Ratio: This assesses the company’s ability to meet short-term debts without considering stocks. If this indicator is below one, the company is technically at risk of insolvency; if it’s above two, there are excess circulating idle assets.
  3. Immediate Liquidity: This evaluates the company’s ability to meet debts considering only the money in banks and cash. If this indicator is below 0.1, there are liquidity problems; if it’s above 0.4, it indicates idle treasury.
  4. Debt Ratio: This indicates the level of the company’s indebtedness, with an appropriate debt level at 0.5. Higher values suggest excessive indebtedness, while lower values indicate idle equity.
  5. Economic Profitability: This reflects the profitability the company gains from its typical activities. An indicator below 0 represents unprofitable productivity, while above 0 represents profitable productivity.
  6. Financial Profitability: This indicates the profitability of own capital. If it’s above 0, productivity is profitable.
  7. Net Profit: This measures the net profit obtained from company sales. Values above 0 indicate positive profitability.

Analyzing for Better Decision-Making

The analytical power of BI allows finance professionals to compare budget forecasts with actual budgets, helping them identify discrepancies and implement necessary corrective measures. However, the analysis goes beyond identifying disparity; it’s also convenient for making forecasts based on historical financial data, including sales, expenses, and profitability. It enables financial teams to create a more precise outlook and strategic planning.

Enhancing Customer Understanding

Understanding customer behavior is crucial for defining pricing, marketing strategy, and product characteristics. From a financial standpoint, BI can assist in understanding customers in the following ways:

  1. Customer Segmentation: This involves grouping customers based on characteristics, for example, location, purchase frequency, age, etc.
  2. Customer Behavior Analysis: Analyzing factors like purchase frequency can lead to a better customer experience and increased profitability for the company.
  3. Predictive Modeling: Predictive models help forecast how customers will behave in the future, allowing adjustments to financial strategy for better results.

Regulatory Compliance

BI can aid in regulatory compliance by adjusting reports to meet legal standards or guidelines from government agencies. Additionally, alerts can be set up to prompt actions when there’s a risk of non-compliance with monitored regulations.

Risk Management

With BI, you can proactively detect risks in departments like credit, market, or operations. The analysis provided by BI also helps quantify the impact of risk, allowing for prioritization in risk management planning.

In conclusion, BI significantly enhances the ability of finance teams to efficiently manage company resources by bolstering the analysis of financial information and its impact on the company level. With tools like BI4Web, it’s possible to equip your finance team with the analytical and data visualization capabilities needed for highly competitive financial management. Contact us for a free demo.

Business-Intelligence-and-information-security

Business Intelligence and Information Security as Business Differentiators

Business intelligence solutions are becoming increasingly essential elements in organizations. The main reason is that they are crucial for digital transformation processes due to their technological component that facilitates access to information and their impact on organizational culture, which is moving towards data-driven decision-making.

Like any advancement, BI solutions are conducive to new scenarios within organizations that represent new opportunities and challenges. The advantages are gaining popularity, and we invite you to read our articles:

In these articles, we address the impact of Business Intelligence in different areas of companies. Regarding the challenges, information security represents relevant aspects for protecting against threats and complying with current data processing regulations.

How to securely manage your organization’s data?

It is essential to consider what data you handle, for what purpose, and which people within the organization should have access. For this last point, it is recommendable to assign access permissions considering the need-to-know principle. In this way, only those users who legitimately need access to the information will have it. By delimiting each person in the organization to the data based on their role, you can mitigate the risks associated with the inappropriate use of data.

Another relevant aspect is the maintenance of access logs that allow tracking of who accesses the information. For this, it is necessary to provide mechanisms that prevent to share access credentials and other non-recommended practices.

Regarding the previous points, it is relevant to work with Business Intelligence solutions that facilitate the implementation of these measures. In this regard, BI4Web stands out for its efficient and secure data management from user and dashboard creation.

BI4Web: The secure BI solution for your data

Thanks to the architecture of BI4Web, data management, permissions, and users offer information security with efficient time utilization. Why? Because it allows you to create intelligent dashboards that display the information corresponding to each user without the necessity of creating one for each user, as is usual with other market options.

A clear example is a sales dashboard that shows the individual sales performance of each salesperson but also allows a regional sales manager to view sales for a specific region. Visualization privileges are associated with each user, so they always correspond to the responsibilities assigned to the employee.

Regarding sharing information, BI4Web enables sharing dashboards with colleagues via email. This functionality is not enabled to share information with people outside the organization. Additionally, shared links have limitations in terms of time and maximum number of uses.

If you share it via email, the receiving colleague can only navigate through the shared information. This way, they can access all the visualization advantages of BI4Web without any unwanted access to other data. Thus, work teams can collaborate cohesively with options that provide the necessary data protection.

Simplified and secure access to data offers organizations an improvement in competitiveness by enhancing their ability to make efficient data-driven decisions.

If you want to access the benefits of business intelligence with the necessary security, contact us, and we will accompany you with the best solutions to make digital transformation and information security pieces of your company.

How to improve your project management with BI

How to improve your project management with Business Intelligence

Project management carries out activities within the time and budget assigned. Different methodologies might help project managers to achieve that goal. However, they need to consider making informed decisions as an essential skill. They can enhance this skill by choosing the proper business intelligence tool and increasing the success rate. Some of the advantages of carrying out projects supported by business intelligence are. 

Centralization of information 

Access to information is the first step to making decisions based on data. When working with business intelligence tools, you can inquire in a single place about every piece of information related to your project, no matter where it is stored. It helps you to save time and gives you a 360 vision of data, something crucial to make the right decision. It also provides accurate data, free of duplications and with high quality. 

Resource optimization

No matter the project´s nature, optimization of resources is way easier if you can track every activity at the level of detail you need. Hierarchical visualization of data can help you find the origin of low performance or efficiency reduction. If, for instance, you see a KPI like total sales drop, you can go through the primary metrics to check with the assistance of graphic representations to identify the cause. In the same way, it can help you to tell the reasons for your success apart and create powerful insights for future projects. All of this assists you in building a tailored methodology for your company or where you develop projects. 

Risk mitigation

Besides optimization, identification and mitigation of risks enhance the success rate of your projects. Thanks to graphic representations, your team can identify risks like the expenses affecting your budget plan or additional executed hours impacting your general schedule. This way, you can focus your actions on aspects with a more meaningful impact. 

Insights for future projects

Insights based on predictive analytics can help you to do better planning of the projects of your company. Thanks to the identification of trends and characteristics of every project, you can create successful plans. 

This higher success rate is based on the greater accuracy that predictive analytics can achieve with larger volumes of data. To know more advantages of predictive analytics, read our article: Challenges and opportunities of working with large volumes of data.

Enjoy these and other advantages for managing your projects with a world-class business intelligence tool, BI4Web. Contact us and start your path toward intelligent project management.

Challenges and opportunities when working with high volumes of data

Challenges and opportunities when working with a high volume of data

The increase in the volume of data companies are working with is a long-term trend. That growth happens at a different speed in every industry, but none is safe from the exponential growth of the information they use. This trend is two faces of the same coin. On the first side are challenges, and on the other side are opportunities. We will lead you through the main challenges and the opportunities that might result from carrying out challenges properly.


Challenge: Is it necessary to back up every piece of information?

The quick answer is no. But the only way to find the right path is to take time to create a data strategy aligned with your business plan. This strategy must contain what the company needs to operate in the present and future. Well-defined criteria are crucial in this matter.

Back up unnecessary data will make company information structure and increase all derivated costs. Additionally, because it is irrelevant data, it will not add up, becoming impossible to obtain any benefit to cover the derivated costs. If, on the other hand, you do not back up essential data, the company perspective will be biased, and decisions will lack trust.

Opportunity
Saving the appropriate data nurtures a work environment advantageous for data use. Counting with the proper data sets enhances the company´s vision and improves competitiveness by making it easier to access data. It also helps predictive analytics accuracy because data volume is a crucial factor. It enhances the creation of business plans with a higher success rate.


Challenge: What is the best option for data storage?
When choosing data storage, you should evaluate factors like storage size, growth speed, scalability, security, and availability.
Every company uses as many data sources as they need and tend to be different. It is another aspect to keep in mind when making a decision. The core reason is that it should guarantee seamless integration within your whole digital ecosystem. Ignoring this point can result in a disconnected data source or the necessity of acquiring new connectors, which implies new costs.


Opportunity
A data storage option that meets changing business needs allows for keeping the company competitive by supporting data availability. Choosing a convenient data storage option helps to keep optimal answer times and avoid slowing or stopping processes related to data in the company.


Challenge: What updating data model is the most appropriate?

It is a question you need to answer almost at the same time when choosing your data storage. In this matter, you need to define how frequently you will run updates on the data warehouse. Also, decide if data updating will be active or passive. In other words, updating will happen every time there is a request or not. In the last case, it is essential to schedule it according to the data volume, type, and dynamics of the business itself. The principal criterion for making this decision should be the company. For example, if your team needs information from the same day to provide attention to your clients, you should go for passive updating. That is, it is updated every time a query is made. In this way, the data will correspond to the date and time of the consultation and not, for example, the previous day.
If, on the other hand, there is no need for access to the latest version of the data, an active update can be set, for example, once a day. It optimizes storage and upgrades resources. This option is helpful when working with high volumes of data, for example, national-wide sales reports of supermarkets chain.


Opportunity
The right choice will help to use resources wisely and not hinder business operations. It allows you to keep your costs low, and your business will perform seamlessly.


Challenge: How much invest in data management?
The core of this challenge lies in finding the criterion that fits better. Commonly, have to answer for tool selection, license acquisition, etc. So we share a crucial touchstone to transform this challenge into an opportunity.


Opportunity
The exact investment will vary from company to company, but the main criteria should base on a vision that points to an operation that contributes to a healthy ROI (return on investment). The value that current society gives data grows exponentially, which is why proper management will positively impact the P&L (Profit and Loss) balance. This value lies in its contribution to a more accurate decision-making process. Based on business-specific information, which reduces the impact of human biases. Having the tools to manage the data is essential to materialize this use.


We recommend two tools that help you bring the opportunities presented to your company. Leave data silos behind and centralize your entire digital ecosystem in a data hub powered by artificial intelligence, such as DataGate. Plus, get innovative insight into data with the business intelligence tool BI4Web. If you want to know more about these tools, contact us. We will help you start your path toward profitable management of your data.

Entrada blog Inteligencia de negocios y gobierno de datos como aliados del crecimiento empresarial (1)

Data Governance and business intelligence as allies for business growth

Every company establishes business growth as a goal since its foundation. However, not all of them grow at the same pace or use the same strategies.  

We could mention many experts who have formulated paradigms related to business growth as series production and specialization of production chains. Likewise, how they paved the way to the present when data governance and business intelligence are crucial pillars to reach consistent business growth in any company. 

What is the importance of business intelligence and data governance? One of the most relevant aspects is how they help to answer crucial business questions to make better decisions.   

By its side, data governance refers to all efforts, policies, and actions intended to homogenize data management in business ecosystems. The main advantages it offers are data accessibility, availability, and quality. So it is much easier to have a complete view of what is happening in the company, avoiding blind or partially informed decisions. 

Along with employee commitment, a mature organizational culture, and the proper technology, data governance improves business competitiveness. Overall by enabling companies to have faster answering time in every process with a central role for data.   

The business intelligence solutions by its side provide added value to data the company has prepared to be accessible, available, and of quality. This point consists of giving points of view to decision-makers that help them to enrich their criteria when making decisions. They are good when high volumes of data overpass human capacity to check what information is relevant, so it becomes a difficult task. Data representations offer several points of view. If you want to know the recommended use for each one, download our Guide: Visual Vocabulary. Checking the same data set from the perspective of different representations can help you to detect patterns, trends, or changes. Otherwise, they would be unaware. With this in mind, data experts know how to choose the representation that better fits their intentions of viewing issues or highlighting aspects.  

To summarize, we can say that the ability to organize the information offered by data governance and the revealing points of view by business intelligence constitute a duo that enhances the ability to make business decisions that mark the growth path for the company. This improvement means the decision-making process can be up to 5 times faster. 

And how is this growth consolidated? 

The duo we mentioned enables companies to see opportunities for improvement inside and outside. For example, you can improve your plant production times by analyzing the information collected from the machines and making improvements as moving from corrective to preventive maintenance. It is also good to analyze an organization´s processes, for example, those related to human resources. 

As for the exterior, it can significantly improve the relationship with clients by providing a comprehensive view of their purchasing behavior and anticipating the risk of abandonment. The last point is vital to carry out retention actions focused on the right segments and with a winning value proposition. It is a crucial front of action since, in general, it is more expensive to acquire a new client than to maintain it. 

In a context where more and more companies are advancing on their path toward digital transformation, having this duo goes from being optional to becoming the way forward. Therefore, those who do not update their decision-making models with the help of data governance and business intelligence will be at a disadvantage compared to those competitors who do. 

Know BI4Web, our Business Intelligence solution that will enhance decision-making in your company with the most extensive catalog of native representations on the market. Contact us and discover how we can help your company´s growth. 

BI4Web V.22, speed and creativity, enhancing the power of your data

Users of the new version of BI4Web will experience a real revolution. The update developed by RCM Software will be a watershed in the evolution of BI. Users will have functionalities and more benefits that will contribute to efficiency in their daily tasks. Likewise, it provides an infinite range of possibilities that enriches the experience of the graphical representation of data.

BI4Web V.22 enhances the freedom to build creative solutions that contribute to more efficiently covering the growing needs of business intelligence in companies. Below you will find a summary of the main benefits of the new version.

Experience the speed without borders.

• Up to 200% more speed in data collection.
• Search, filter, select and access data without waiting.
• Autonomously manages data visualization.
• Access data without intermediate consolidation processes.

View, customize, and share.

• Centralize in a single BI tool all the information of your digital ecosystem with 100% compatibility
• Customize and save your dashboards.
• Securely share your dashboards and allow your colleagues to interact with the information.

Live a renewed experience.

• Enjoy a BI in a renewed, fresh and modern environment.
• Easily choose the graphic representation you need.
• Easy analysis, thanks to hierarchical navigation.

Use superior features

• Edit graphical representations live.
• Access to the most extensive library of native BI graphics on the market.
• Create tooltips with everything you need, from multimedia resources to JavaScript-based features.

Improve your performance

• Use the same dashboard to represent information from different companies, languages​​, and several users.
• Solve your doubts faster with the help integrated into the graphic designers.
• Connects to most existing data sources.

Manage smartly

• Link users directly to your Active Directory or LDAP server.
• Create access policies for users or groups of users.
• Grants customization permissions per user.

Know all these advantages in our webinar: BI4Web V.22, the BI revolution.

Que es business intelligence blog

What is Business Intelligence?

Business Intelligence is a process enhanced by technology that helps companies improve the way they make decisions; it empowers companies to find answers to business questions with the data they already have in their digital ecosystem. 

It contributes to decisions based on data and not on subjective elements like the personal experience of decision-making leaders.

Keeping in mind this is a process and requires strategy, it is crucial to reach goals. What does this process consist? How many stages does it have? The thorough process goes from data source identification and treatment definition to data consumption of final users. It has these stages:

Data collection

  • Data sources identification, both internal and external, will work as data providers for the business intelligence process.
  • Definition of rules about how frequently data will sync and where.
  • Real-time vs historical data: Decide whether to work with real-time data, historical data, or both. 

Data preparation

Once data is collected, it should be prepared to meet quality and availability criteria. This step includes data integration, data consolidation, and data cleansing. 

Creation of queries: Define what questions your business needs to answer.

Dashboards and reports creation: Select what graphic representations are better to represent data findings. If you want to know more about this, we recommend reading: Tips to create a successful dashboard. 

At this point, you must define roles for users according to their specific needs for data consumption. 

Thinking about it, you will define roles for internal and external users, according to their data consumption needs.

What kind of analysis can be performed by BI tools?

Essentially, there are three kinds of analysis. 

  1. Descriptive analysis. It helps to answer questions like Why did something happen?, Is it going to happen again? This analysis is useful to visualize data on several levels to discover why something happened. 
  2. Predictive analysis. It models future scenarios and the results we might expect from them. It is good to make decisions related to goal achievement, for example, how a new line of products or a new business division, will impact overall sales.    
  3. Prescriptive analysis: It recommends business actions based on data so the decision makers reach their goals.

Business Intelligence for everyone 

In the beginning, business intelligence tools were for C-level executives. But it changed, and now they have evolved in terms of concepts and technologies. This evolution has nurtured an open approach that empowers all business users to make their decisions based on data. This way, not only strategic decisions are made with BI, but also operative ones. 

That is why once everything from the previous point is ready, users will make better decisions. It does not matter if it is about deciding the right time to release a product in the market or when to contact a lead that is more likely to purchase. 

BI is still evolving, allowing more users to become part of the data culture in their workplaces. It helps improving decisions making process, guarantees better decisions, more efficiency, and enhances business opportunities.

What are the benefits of modern business intelligence?

Besides improving the decision-making process in the Company, it offers these advantages. 

  1. It helps to identify the reasons behind results, especially when data volume makes it impossible for a human being to identify such causes. 
  2. It increases organizational efficiency: It delivers integral access to information to business leaders, delivering an overview of their business areas and the Company, making it easy for them to identify synergy opportunities inside the organization. 
  3. It allows saving time in data consulting. Asking for data from the whole digital ecosystem, cuts off time invested in tasks related to data consultation and delivers a complete overview of what is happening in the organization.
  4. Accessing relevant information in real-time. Useful when decisions require current data and not historical to be made
  5. Faster data consumption. Graphic representation options allow efficient data consumption by synthesizing information in a short space and highlighting what matters. 

If you are looking for all benefits of business intelligence for your Company, then we recommend you to know BI4Web. It is a 100% web tool that allows access to all business intelligence benefits from any device, any where, and anytime.