Today’s print business is faced with a multitude of challenges from the financial pressures in the market to various production challenges. In order to maintain companies’ profitability, standing still is not an option. Printers need to continually develop and strategically focus on the current and future outlook. Within the smart print shop, there are six key areas affecting your profitability: enhancing customer interaction, reducing touchpoints, driving productivity and uptime, reducing waste and inventory, optimizing consistency and repeatability, and providing business intelligence (this is shown below). When evaluating your business, you should consider where these factors have a positive impact on the bottom line.
For this blog, let’s focus in on Business Intelligence – it is being used in a wide variety of industries (from engineering to healthcare) to analyze data to make informed decisions about businesses.
So what does Business Intelligence really do? It combines data from multiple sources (internal and external), prepares the data, and allows you to analyze with tools. This leads to fact-based decision making for strategic planning and operational issues. By combining data from multiple sources and providing easy-to-use interfaces, it allows the full value of the data to be leveraged.
Using Business Intelligence will provide companies with a distinct market advantage— including making easier decisions based on sound information that has been correctly collected, verified and analyzed. This structured approach will help drive increased productivity, which leads to the business being more efficient and competitive in the marketplace. Leveraging the data will provide improved customer service and satisfaction. Importantly, it will provide information that can be used to improve companies’ profitability and market share.
Prinect Smart BI was developed as a tool for all company sizes in the printing industry to be able to leverage their data. By combining production and business data in the cloud, it gives companies the tools to take their business to the next level of profitability.
So what can you do with Business Intelligence? You can:
Respond more quickly to business inquiries
Utilize current reports with important metrics anywhere
Understand your business strengths and weaknesses
Obtain indispensable insights into customer behavior
Identify opportunities for additional and follow-up sales
Establish your actual production costs
Optimize warehousing and materials
Business Intelligence will allow you to make better business decisions, providing you an improved understanding of your past, current and future business state.
Want to learn more about Prinect Smart BI? We have a free webinar discussing Business Intelligence on March 15! Sign up here.