Business Intelligence is hot. Really hot. If you’re doing any reading on business technology and you aren’t seeing data and cybersecurity as predominant themes for 2017, then I’d reevaluate your news sources.
Everything that we do at GadellNet is driven by data. Our recruiting and hiring process includes behavioral, cognitive and personality testing with quantified data points. Our leadership bonus structure forces accountability through data. Even our customer service (visit us here: www.gadellnet.com/feedback) is measured by a 3rd party source and shared with the world in real time.
Readily available data also allows us to speak the same language too. I don’t know many IT companies where every level of the organization can speak to our up-to-the-minute customer satisfaction score, our profit and our cash flow. Our investment in BI tools that provide that data in a simple and easy way.
Let me give you a glimpse into how, as CEO, I manage my day through data points. We use a business intelligence tool that we’ve customized in-house (did you know we have a data analytics team that provides this service to clients?) to provide our leaders and myself with up-to-the-minute insights into data.
My day begins with me logging into my Business Intelligence portal and reviewing some of our key business areas. For obvious reasons, I haven’t included all of our metrics, but included a few that demonstrate the power of these tools (and the integrations built by our teams) to help shape and guide decision-making.
Do you struggle with any of the following?
- When should I hire?
- What is my anticipated cash position 45 days from today?
- How happy are my clients?
- Am I utilizing my teams as effectively as possible?
- Who are my high performers?
- What is my ROI on a particular investment?
- Is my marketing initiaves working?
- Will we grow this year?
At GadellNet, we believe in focusing on what we do best and thus have made the strategic decision long ago to outsource our finance and bookkeeping. Thus, I do not have a full-time controller or CFO on staff. How do I remedy that? Automation through technology of course. In a single BI dashboard, I can review daily (with NO manual report preparation):
- Current Cash Flow
- AR by Client, by Status
- Profitability by Product Line and Team
- Revenue and Margin by Category
- Expenses (and Outliers!) to Expenses
- Rolling 12 month previous of a myriad of important financial metrics
- And quite a few other predictive metrics that give me real-time and future insight into the business.
- Current customer feedback? I know it.
- Backlog? I know it.
- Mean Time to Restore Service on ALL tickets? I know it.
- Ranked Performance by Engineer? I know it.
- Utilization? I know it.
- When should I hire a new engineer? I know it.
- How long it takes from picking up the phone to closing a ticket? I know it.
- And 50 other metrics that we review regularly to understand how to prioritize and triage continuous improvement efforts.
GadellNet has been blessed to be a 4-time Inc. 5000 award winner for growth. We measure our pipeline and sales by specifically managing some key metrics through the sales process.
Business Intelligence isn’t scary, nor is it that expensive. Out of the box tools combined with some custom integrations can provide you with the needed data to set your company apart from the market. That said, you do need a professional team of people to ensure data is accurate, easy-to-access and readily available. If it’s not from us, work with someone – it’ll reshape the way you manage 2017.