How real-time reporting drives decision making

Managers need reliable, up-to-date information to make beneficial business decisions. In most companies, reports are based on data that is only a few days old, so decisions are always made based on obsolete information. This is extremely detrimental to business, as the right decisions are those that are made through constantly updated information. Software such as Multipeers is increasingly a requirement of the market, as it allows the manager to have access to your company information in real time and through any device. In today’s article, we’ll see how real-time reporting drives decision making!

Real-time information enables you to anticipate market trends

Real-time reporting enables the anticipation of future market trends. A company that bases its operations on the most current information it has will always be one step ahead of the competition. For example, if the manager realizes that a particular product is experiencing abnormal demand, he may request increased production of this item. Similarly, if you find that a product is “forgotten” by consumers, you can launch campaigns that allow it to be sold.

Business alerts ensure you don’t lose any information

Business monitoring software such as Multipeers allows you to set business alerts to warn you whenever a situation goes out of your way. Wherever you are, you will be notified by SMS or email of any changes to your previously established standards and can take action immediately, even before there is damage to the organization. This proves to be a huge competitive advantage as it enables immediate action and prevents negative consequences for the business.

You can use multiple data sources at once

Using a real-time analysis system, it is possible to aggregate all the company information in one system. This makes access to information much easier and more intuitive, reducing the time the manager previously spent conducting information from various data sources. You can make reports very quickly based on reliable information.

Business processes become more agile

Because real-time information management programs present information in a condensed, ready-to-analyze manner, the need for extensive reporting will disappear. This way, employees who previously had this responsibility will have more time available for other tasks, which will certainly contribute to increased productivity. Real-time analysis eliminates the most bureaucratic tasks, making the company more agile.

Optimize decision making in your business in 5 steps

Decisions, decisions and more decisions! Every day managers face the challenge of making decisions that can dramatically change the course of a business. Making the right decision is a complicated task because we don’t always have the data we need to make a conscious decision. At a time when data is growing in numbers in organizations, it is very difficult to extract useful insights that help us choose the best course. In today’s article, we’ll see how you can optimize decision making in your business in 5 steps!

Correctly identify the problem that needs solving

Decision making, in most situations, aims to solve a business problem. Thus, for the best decision to be made it is necessary to identify its origin and list all possible solutions. This step seems basic but it is one of the most important and one of the most underrated. In-depth analysis of the situation will give us the data we need to know which path to choose. An improper decision can compromise business continuity.

Accept that there is not just one right answer

The choice that seems to be the ideal today may not be the most appropriate tomorrow. When it comes to deciding in business there is not just one right answer and decisions have to be made with the current business context in mind. The manager should place all possible answers on the table and analyze the pros and cons, taking into account that there may be more than one right answer for the same situation. And we advise that the decision be taken as a team, as this will involve your employees and this increases people’s motivation.

Use real-time monitoring software

It is very important to have a real-time business monitoring system that allows you to set business alerts to be alerted whenever an important situation requires immediate intervention. Multipeers is a BAM system that allows you to set business alerts that warn you whenever a situation requires your attention. This way you will always be aware of your business events and will be able to decide in good time. Many decisions are made based on reports that are a few days late, which causes the company to take reactive rather than proactive action. With Multipeers you will always be able to stay ahead of the competition and make the best decisions for the business.

Make future thinking

Most managers favor decisions that seem to bring greater returns in the short term, eventually forgetting the long term. Making short-term decisions means that the business can be compromised in the future. All decisions must be made after the impact analysis they will have in the short and long term. A decision that is useful at present but which in the future may pose serious problems should be avoided.

Do not postpone inadmissible decisions

We tend to postpone difficult decisions even though we know that sooner or later we will have to act. If you already know what decision you are going to make and the consequences it will have for your business, it is not worth delaying anymore. Business needs dynamism and it is through decisions that it evolves. With the right tools, you can make business-beneficial decisions.

5 Practical Tips for Better Time Management

Time is limited and you need to know how to use it to the best of your ability. Managers face the daily challenge of managing their day by prioritizing tasks, delegating roles and making decisions in few time. In an age where business data is multiplying daily, managing time is critical to achieving good results. In today’s article, we present 5 practical tips for better time management!

Set realistic goals

If you don’t know where you are going, any path will do. It is very important to set goals and work as a team to achieve them. Objectives must be measurable and realistic, otherwise they will only contribute to demotivate employees. If you commit to doing many more tasks than are humanly possible in X hours, you will not be able to complete your day on time and will become unmotivated.

Track real-time KPIs

Key performance indicators are very important for more assertive and thoughtful decision making. They act as a thermometer that tell us the degree of results obtained in certain areas. Through BAM software such as Multipeers, it is possible to analyze KPI compliance in real time. The life of your business happens now, so it is essential to follow every second what happens to your business! Only then can you be one step ahead of the competition. And making decisions quickly and with all the data “on the table” will help you save time solving bad decisions in the future!

Delegate Tasks

There are professionals who have great difficulty delegating tasks because they fear that the end result will not be as good as if it had been done by themselves. Wanting to do everything yourself is a big mistake because there will be something that will be less well done. It is essential that you have complete confidence in your team so that you can delegate tasks of quiet conscience.

Learn to say no

Saying yes to all requests and always being available to others can become a serious problem. Block some time a day so as not to be interrupted, especially if you have more delicate and difficult tasks to perform. This way you will be more focused and at the end of the day you will feel the difference in the results achieved.

Define deadlines

Parkinson’s law tells us that the ability to concentrate will be greater the less time available to perform a task. It is not advisable for the deadline to be too close to the date you submit a job, but it is crucial that you can meet the deadline you have set for yourself.

What is the role of performance indicators in quality management?

Performance indicators are critical for a company to achieve good results. It is the indicators, or KPIs, that tell us what state the business is in and whether we are actually meeting the previously established goals. Based on company performance indicators, managers can make more assertive and informed decisions. BAM tools such as Multipeers allow you to keep track of KPIs continuously and in real time, allowing you to gain insight into the achievement of goals. We will understand in today’s article the role of performance indicators in quality management!

They give us a global understanding of company strategy

It is very important for companies to know where they are going and for each employee to know the work they have to do, otherwise they will not be able to achieve their goals. If we are unaware of the results we must achieve with our work, we can do anything, and this is possibly not in line with the overall goals of the organization. Defining the indicators of each employee and linking them to the monitoring system is essential in order to obtain a global and integrated view of the company’s state and performance. In the end, the quality of each employee will be much higher, so the company will benefit greatly.

They show us reliable information about the current state of business

Indicators allow for measurable results. And this is very important in a company because the numbers don’t lie and help us understand where we go wrong and where we got it right and which way we should go from time to time. Subjective knowledge of company results is not enough; One must know objectively the true values ​​of the organization.

They allow us to make better business decisions

The indicators give us a lot of information about the company and to that extent make decision making much more efficient. There is a lack of information available about the company to make a conscious decision and these performance indicators play a prominent role when making decisions about the future of the company. Managers can only make assertive and correct decisions if they have a complete knowledge of the business reality. And nothing better than updated management indicators that are appropriate to the reality of the company.

 

Having a broader view is key to being able to keep up with the business and make the right decisions. In today’s hectic business day-to-day and with the ever-increasing demands of consumers, knowing the market is a must-have weapon to win. Download our business monitoring e-book and learn how a BAM system can help your business grow steadily!

How real-time management improves results in the textile industry

Unsurprisingly, real-time management is a growing need in all areas of business. We live in a very fast age, so it is essential to always be aware of everything going on in business, otherwise we will miss important opportunities. One of the industries that faces the most decisions is the textile industry. In today’s article, we’ll see how real-time management can improve results in this industry!

Better stock control

Many textile companies still use manual methods to control stocks. Companies that already use software to control stocks make the mistake of not integrating it with the rest of the company. Real-time management tools such as Multipeers track all stocks and link data with other departments to save time and money. Using this software, you can track the status of products from factory to store shelves. This reduces human error in inventory management and improves workflows.

Greater production control

Real-time management software accelerates production tracking by providing insight into the entire process, from planning to writing the datasheet for part production and completing the delivery of purchase orders. With Multipeers it is possible to track the fulfillment of production deadlines, speeding up processes if necessary to meet deadlines.

Anticipate Trends

Real-time management allows you to obtain a large volume of data and, unlike most companies, the data generated is of quality. Management can use the information to anticipate future market trends and reduce the risk of producing parts that will have a large drop in demand. Using real-time information allows you to be much more careful in production decisions.

More Assertive Decisions

When the manager knows exactly what is going on in the business, it is much easier to make the right decision and this is undoubtedly the most immediate and most important advantage of using a real-time information system. Analyzing the business in real time allows you to have all the necessary inputs so that you can consciously decide on the best course to take, because the information you are analyzing is up to date and reliable. In the end, the results will bring real benefits to the business profit.

Setting alerts to take immediate action

Business monitoring software such as Multipeers enables the definition of business alerts. Wherever you are, you will be notified by SMS or email of any changes to your previously established standards and can act immediately, even before there is damage to the organization. This proves to be a huge competitive advantage as it enables immediate action.

What is the impact of technology on business management?

Technology is part of our daily lives, both in personal and professional life. We can no longer live without access to the Internet and without a mobile phone, so technology is increasingly playing a prominent role in our routine. In companies this is also true, as in many areas virtually all work revolves around the network. Technology has a significant impact on organizations, enabling them to improve processes and achieve better results. In today’s article, we will see how technology impacts business management!

Cost reduction

More efficient resource management significantly reduces costs. The use of technology is a great ally of good management. For example, software such as Multipeers allows you to follow in real time everything that goes on in the company, giving a global and updated view on each expense and each gain. This way, you can make immediate and conscious decisions that will benefit the business. This continuous monitoring allows us to guide the company’s investments, avoiding unnecessary losses. Also the use of cloud solutions allows to reduce equipment maintenance costs.

Better communication with stakeholders

Technology has a strong impact on the relationship with the various audiences with which the company communicates. Today, in addition to conventional means of communication such as telephone and email, companies can and should communicate with their audiences through social networks and Whatsapp. Using chatbots enables faster response to customers and this is a great competitive advantage in today’s business world as consumers are increasingly demanding to meet their needs.

Greater control over operations and processes

Automating a company’s procurement processes through technology ensures that all actions taken comply with established standards. All actions made related to purchases must be introduced in digital environment so that you can consult your history whenever there is a need to know what happened with a particular purchase. By 2020, RPA is expected to have an increasing presence in companies, allowing them to automate such processes and eliminate red tape and the likelihood of making mistakes.

Optimization of work meetings

Meetings are often longer than what was needed, which wastes a lot of time. Fortunately, there is software that allows you to plan meetings so that they do not last longer than strictly necessary. Similarly, meetings can be held via Skype and other similar programs, which eliminates the need for everyone to be physically present, reducing travel expenses.

7 KPI’s That All Businesses Must Have

KPIs are fundamental elements for the proper functioning of a company. They allow us to understand where our goals are and guide us towards the company to achieve good results. Although each company has its own reality, there are KPIs common to all areas. In today’s article, we present the 7 KPIs that every business should have.

Number of proposals submitted

The number of proposals submitted is important to understand how many potential customers really expressed an interest in buying something from our company. The number of proposals submitted must always be based on the total number of contacts made.

ROI

ROI stands for return on investment and is the return on investment made. This value is the result acquired with the investment made. It is a very important KPI for maintaining the financial health of the company.

Market share

Market share means the participation of a company in its market. This value can be found through measurement of invoicing, number of customers, among others.

Cost per Lead

This is a value widely used in the digital world, which is increasingly gaining weight in the business world. Cost per lead is the sum of marketing action spend divided by the leads generated through these actions.

Application Performance

This is one of the most important IT metrics, and for this purpose it is necessary to make use of constant monitoring tools that evaluate the performance of applications from the end user perspective. More and more companies are entrusting the management of their IT assets to specialized companies that ensure security, high performance and permanent availability.

Avg. Offline Time

This KPI is used to analyze the average time that an IT device or infrastructure was not available. It is a metric known as mean down time (MDT). This metric tells us all the time that the service was not available, either because of minor problems, malfunctions, among others. This value is obtained by summing the time that the system was not available to divide by the number of occurrences in that period.

Average cost per employee

This indicator shows us how much, on average, each company employee costs us. It is obtained after summing all personnel expenses (salary, food allowance, holiday and Christmas allowances, state contributions, among other expenses) and dividing by the total number of employees of the company.

How does real-time data affect business management?

We are all more demanding and hurried and this is reflected in business. If a few years ago analyzing reports with several days was enough to make good decisions, today it is almost imperative that companies use real-time analysis tools like Multipeers to make informed decisions. Real-time data analysis has gained a major role in the contemporary business world. In today’s article, we will understand how real-time data affects business management!

Immediate identification of opportunities and consequent increase in profits

Real-time data management tools enable you to spot opportunities just as they appear, allowing you to always be one step ahead of the competition. A change in demand for a product, for example, could lead you to launch a specific targeted campaign that will increase sales and improve overall results.

More efficient management of human resources

Real-time analysis using tools such as Multipeers helps ensure that employee performance is measured more accurately by determining which times of day the company has the best productivity rates. You can also identify which employees perform best. This enables the company to make the most of each employee’s performance, which will have a very positive impact on overall results.

Instant problem detection

A failure in the production process can mean serious problems with customers, suppliers and partners if not detected and corrected in time, destroying complete production lines and damaging relationships with stakeholders. Monitoring the production process in real time allows to identify any failures and their correction in good time. This way any deviations will be corrected as soon as possible.

Likelihood of making a mistake is drastically reduced.

The use of real-time management tool systems reduces communication failures and accelerates data consolidation, thereby reducing the likelihood of business-damaging errors. All company information will be condensed in one place, which makes analysis processes more agile and effective, making all processes more fluid and efficient. Thus, the manager is much less likely to make mistakes.

More conscious and wise decisions

When a manager uses real-time data analysis tools, he knows exactly what is going on in the business, so making the right decision is much easier. Analyzing the business in real time allows you to have all the necessary inputs so that you can consciously decide on the best course to take, because the information you are analyzing is up to date and reliable.

 

5 Tips to Set Good Performance Indicators for Your Business

Business performance indicators, or KPIs, are an essential tool to ensure that your business is moving in the right direction. Based on the indicators and the company’s performance, managers can make more informed decisions. In today’s article, we present 5 tips for setting good performance indicators for your business!

Simplify indicators

KPIs should be simple so that the entire team is able to understand them. If you get too complicated a KPI runs the risk of not being able to extract any useful information from your analysis because it will not be understandable by your team. And if the employees do not understand the indicator can be unmotivated, which harms the company’s performance.

Define able indicators to evaluate

For an indicator to be well defined, it is necessary to measure it simply or quickly, that is, it must always opt for quantitative and non-qualitative indicators. In the case of qualitative indicators, there is a high probability of a subjective evaluation. For example, instead of aiming to improve sales, set an indicator on the conversion rate to sales with a set value range. It will be easier to see if the goal of the indicator is being achieved.

Conduct thorough analysis before setting indicators

There is no miracle recipe with regard to indicators. There are indicators that fit one type of business, but that do not make any sense in other areas of activity. Defining indicators only to be defined will create harmful noise to employees’ performance and this will have a negative impact on the company’s final results.

Make this process dynamic

An indicator that yesterday was quite important and completely adequate to the reality of the company, today may have lost its relevance. Companies are living and dynamic organisms and as such changes must be monitored in all areas of the company. Evaluate at least every three months whether the indicators that have “assets” remain the most appropriate for your business.

Involve the whole team in the definition

It is much simpler to get people to collaborate if they are present when defining the indicators they should reach. The teams know their reality better than the top managers, so it is advisable to count on the collaboration of each team when defining the indicators of each department. In this way, each employee will feel involved in the process and, consequently, will be more motivated to achieve the desired goals!

Why should I adopt a real-time data analysis tool?

Real-time information is a necessity and an asset in organizations. With each passing day more data is generated and it becomes increasingly difficult to analyze the information in a correct way, reason why it is fundamental to facilitate the access to it. In many companies, decisions are still made based on reports with a few days, which makes the company reactive. In today’s business world, if a company wants to survive and succeed, it has to take a proactive stance. Therefore, adopting tools that allow the analysis of data in real time is a growing need. In today’s article, let’s see why your company should adopt a real-time data analysis tool!

More successful decisions

A company that has all the condensed information in one place can make better and more assertive decisions. In addition, decisions are made in a timely manner, which favors the business. In a company where the information is spread by various software and databases, it is difficult to gather the data needed to decide in a short time. Using Multipeers, all information from the various data sources is on the same platform, which dramatically reduces the time for decision making.

Setting up business alerts

Business monitoring software such as Multipeers allows the definition of business alerts so that you are advised whenever a situation goes beyond your usual standard. Wherever you are, you will be notified by SMS or email about any changes to your previously set standards and you can act immediately, even before there are serious damages to the organization. This proves to be a huge competitive advantage because it enables immediate action and prevents negative consequences for the business.

Immediate identification of opportunities

With real-time analytics you can identify opportunities right at the moment they appear, allowing you to stay one step ahead of the competition. A change in demand for a product, for example, could lead you to launch a specific campaign, which will increase sales and improve overall results. This represents a major competitive advantage over the competition.

Lower probability of mistakes

The use of real-time data analysis systems reduces communication failures and speeds data consolidation, thereby reducing the likelihood of making business-critical errors. All company information will be condensed only in one place, which makes analytical processes more agile and efficient, making all processes more fluid and efficient.

Business Info Query Anywhere

Almost all real-time information management programs offer the possibility of being used on mobile devices. Therefore, it is possible to be in a meeting or a trip and have real and updated information about the state of the business. This is a very important advantage, since increasingly your business is where you are, so it is vital that you always have access to the most up-to-date information about your company!