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8 traits to look for in a Business Intelligence tool

Businesses are getting bigger and so it is imperative for them to have better insights into their data. Business Data is also increasing at a faster pace. So to use them to the fullest, make right decisions on right time and that too without much ado should be of prime focus. Here, Business Intelligence tool comes to your rescue. Business Intelligence (BI) is the key to make those decisions because it joins data, technology, analytics, and knowledge to help you take decisions for your organization’s growth. BI helps you in transforming huge piles of data into actionable information.

Not only big organizations but also SMBs are adopting Business intelligence to get deeper and wider insights of their business data. Before selecting a BI tool for your business, look for these 8 traits to get the best out of it.

1 . Easy to implement and use

One of the major issues with traditional business intelligence tool is that it has complex, time-consuming implementation process. Even intuitive design in using the tool has become a necessity. Using your BI tool should be just as easy as using your smartphone. There was a time when implementation of such software was complex and using it was even a tough task. Fortunately, things have changed dramatically with advent of technology. What once took months or years to implement can now be accomplished within a few days or weeks.

2. Unified data sources

It’s difficult to get the whole picture of your data when it comes from many different data sources. Many organizations face problems because they don’t know what to analyze and what no to. Modern BI tools are intelligent and solve this problem. They provide insights from varied data sources within an integrated dashboard. You can also customize the dashboards as per your business needs. While choosing a BI software, make sure it is able to give you a full picture of your data and not just parts of it.

3. Gives real-time insights
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Traditional BI tools require much of your time, money and people. But still, it can’t give you insights when you need them. This leads to delay in decision making and faulty decisions. Today, Business Intelligence tools have evolved. Modern BI tools are now able to give you real-time information from your raw data. make sure to choose such a BI software that can be there for you, whenever you need it.

4. Data Visualization

If a BI software provides you only a static view of your data, it’s not going to meet your demand of dynamic reporting and real-time insights. Getting insights from raw data in the form of charts is nothing new now. Today BI tools are such that you not only get data in charts form but also stunning visualizations and interactive dashboards. These provide a consolidated live view of your enterprise and its performance. For instance, Power BI Desktop offers a free-form canvas for drag-and-drop data navigation and a huge library of interactive visualizations, simple report creation, and fast publishing to the Power BI service.

5. Cross-functional

Business Intelligence tool should require minimum IT skills to use it. Anyone from your organization should be able to operate your BI tool and that too, relevant to their roles. With modern BI tools, not only C-level people but also anyone from Management, Operations, IT, Finance, Marketing, and Sales are able to gain insights and make the right decision in their domain. When choosing a BI tool, be sure that it supports multiple user roles and access controls.

6. Advanced Security

As the quantity and accessibility of data increases, the concern for its security decreases. Thus, today, data security and privacy is a major concern for almost every business. Modern Business Intelligence tool allows you to control exactly who sees what. Using groups and roles, you can ensure a user gets information only which they need and nothing more. While selecting a BI software, also read terms of services which shows the level of security offered by that software.

7. Mobile Access

Mobility has become a necessity these days. It is crucial for your people to feed and get the information they need whenever and wherever they want. This has led to a huge surge in the demand for Mobile BI capabilities. This is why mobile BI feature is a must for businesses. With this feature, your users are on-the-go and can access reports and dashboards on their mobile devices, versus being limited to desktop access.

 

mobile business intelligence tool

 

8. Affordable

It is not necessary that a BI tool with the above mentioned features need to be expensive. BI tool used to be a privilege of large businesses. It’s not that small companies don’t need a BI software – it was just too expensive for them. Time has changed and so has technology. Technology is advancing and the costs have come down. Cloud computing is becoming widespread which has led to reduction in implementation prices. BI tool such as Power BI by Microsoft is affordable and yet containing all the features you require – whether yours is an SMB or a large corporate.
So before thinking of choosing a BI tool for your business of any size, make sure it fulfills these 8 factors to get the best out of it. Find out more feature of our Business Intelligence tools. If you’re looking for business intelligence software for your organization, give us a try.

6 Reasons your business needs a modern CRM system

Are you still stuck with outdated CRM?
Earlier, CRM systems were actually nothing more than just electronic business cards. These CRM systems were just business contact management and nothing else. They were used to track opportunities  and reporting too but there was no relationship management or customer service management. CRM systems have evolved to be a full solution of actual customer relationship management.
Here are six reasons why you should be using a modern CRM solution for your business:

1. Reporting via Dashboards

You don’t have to maintain an Excel to show your daily work. Reporting can now be done through various customized dashboards. With some default dashboards and some customizations, you can have all the data on one screen. From last follow-up date to next follow-up date, current status, activities and pending tasks can all be viewed on a single dashboard.

2. Mobile CRM

CRM in your mobile can give you flexibility of entering and receiving data from anywhere, anytime. You get freedom to access and enter information from any device. Hence, you don’t have to open your laptop or desktop just to enter few details. Though on mobile, you get access to all the features.

3. Document Management

Get rid of managing piles of documents in paper or on every system. In modern CRM, you can store and manage documents. Based on user rights, everyone can access related documents of accounts. You don’t have to search your system every time someone needs a specific proposal or agreement or project plan. You can easily access them in CRM.

4. Social CRM

CRM is not just about managing customers. Since the workforce is mobile, they need to be able to share and collaborate within themselves. No salesperson can work in isolation. There is always a give and take of information from everyone. CRM systems allow for conversations and sharing information between users. This feature helps in staying up-to-date about the lead status, avoiding miscommunication with prospects.

5. Personalized Reporting

There was a time when you had to ask an IT administrator to customize and generate system reports. While in modern CRM systems, the dashboards available are easily customizable as per your need. Slice and dice the information based on the parameters important to you and create your own reports.

6. Sales, Marketing, Service – All in one

CRM systems were meant just to handle contacts and accounts. These have advanced so well that you can not just manage the contacts and accounts but also manage your customers, carry out marketing campaigns, and much more. CRM system streamlines processes and increase profitability in your sales, marketing, and service divisions. A strong CRM system is a multifaceted platform where everything crucial to developing, improving, and retaining your customer relationships is stored.

Ready to adopt a modern CRM system?

Microsoft Dynamics 365 is a combination of  intelligent business applications including the latest advancements in customer relationship management. All in all, a modern CRM is an asset for your organization. Adopt this for your business and see your business prosper. Interested in a demo? Give us a call on 079 26404107 or send an email on sales@intech-systems.com.
Let’s reimagine your business productivity.

CRM: Why is it the most valuable asset for your business?

What is the most important asset of your company? The answer differs according to the business, industry and your business state. But the one thing that is common for every type of business is they yearn to gain more customers, thus more business. Customers are important for every business. They are the reason businesses succeed or fail. But still, once businesses acquire customers and get their payment, they neglect their customers. You will lose most of your customers if they are not taken care of after their purchase. This is the point where CRM comes to your rescue.

A complete overview of your customers

Do you still use Excel to maintain customer data? Do you spend most of your time in updating the customer data? If you say yes to these questions, you need a CRM software for your company at the earliest. Excel files may get lost and outdated. Business cards are of no use if there are piles of them on your desk. A customer database increases in value when everyone works together on filling it with data and when it is updated without much ado.
Here are 4 reasons why CRM can be the most valuable asset for your business:

1. Leads, opportunities, customers – everything in one place

CRM lets you add contact or leads in the system and helps you nurture them. Right from prospect to after sales service, CRM helps you stay updated about the status of every contact in the system. It lets you organize your customers and contacts so that you can take any action, whenever needed. CRM helps you bifurcate the data into suspects, leads, prospects, opportunities, lost cases, and custom fields too to give you accurate insights.

2. Know what to do next

You get an idea of how many leads you are working on and how many of them got converted. This ratio can be less but you can always keep your leads warm by keeping them in touch with your company. It is important to keep them engaged so that instead of losing them, you can convert them in future too. And if you have an effective email marketing strategy or a great seminar plan, their business might be yours for the next quarter.

3. Stay updated about interactions

It doesn’t matter who is handling which case from your organization, you know the status of every case. You know what should be the next step and which stage your lead is in. Keeping records of every interaction helps you know your prospect/customer better. Building relationships through various channels, campaigns and ads then become easy.

4. It retains all the customer data

You don’t need to rely on outdated spreadsheets and keep them updating. Even when your employees leave the company, stay assured that the data is safe and secured in the CRM system. Don’t let the external changes affect your customer data.

Conclusion

Without a CRM system, it’s difficult to handle your customers. Companies using CRM are already realizing its value. They have learned how to satisfy their customers, how to build long-term relationships and how to get the most out of their customer data. Companies have started using modern CRM system which helps them enhance their employees’ performance too.
Still managing customer data manually? Try Dynamics CRM free for 30 days and decide by yourself.

Integration of Dynamics ERP and CRM for Retailers

Retail is a customer-centric business. To succeed in such an industry, retailers need to have the power of both ERP and CRM that supports top business processes. Integrating them can be a time-consuming and daunting process if not done efficiently. But the integration of ERP and CRM can work wonders and provide a compelling return on investment. This integration provides control not only over your operations and finances but also delivers insights to maintain customer relationships. The robustness of ERP modules and comprehensiveness of CRM gives you more in less.

Some of the benefits of the integration of ERP and CRM software for Retail industry are as follows:
Manage store from one place

You can manage your Point-Of-Sale terminals with visual and functional profiles and with that which attracts customers. The in-built analysis feature helps you gain insights with consistent and accurate data. You can also update your people about loyalty points, inventory and financial information, and sales orders. You have access to all your staff at all levels – store, regional, and global depending on business needs.

Manage Omni-channel

The integration helps you in providing more visibility and control across all your channels. Make the customer buying experience smoother by allowing them to buy online and offline both. This will also enable promotions, campaigns and make quotes directly from the system.

Merchandise powerfully

With gained insights, you can set up campaigns on discounts, coupons, mix-and-match and various other deals to match your business needs. Assort and arrange your merchandise with scheduling, tracking, item hierarchy, and category management functions.

Enhanced customer service

With customer insights, you can identify trends and offer personalized service with access to real-time, actionable data. Maintain records of leads, opportunities, and customers and their details for future interactions.

Manage inventory

The power of ERP and CRM helps you manage inventory based on schedule or need. Keep track of inter-company transfers, purchases, requisition, and replenishment processes. This helps you to keep your inventory up-to-date on a real-time basis.

Marketing made easy

With all the customer and prospects data in the system, you can set up campaigns easily. Target specific audience as per your business needs and implement promotions, discounts, etc. through social sites. Not only this, get customer data and analysis of the marketing campaigns you carried out.

Manage orders and supply chain

Create orders and quotes in real-time for customers by using POS order capabilities. Accept, fulfill, and track orders and thus, manage inventory levels too. With ERP in action, apply and manage tax schemas too.
In conclusion, integration of ERP and CRM gives you a seamless view of your organization and streamlines your business processes. This, as a result, eliminates duplication of data and increases ease of communication across the systems. Your sales and service staff get a greater hold on the activities they do leading to a marked increase in customer satisfaction.
If you wish to integrate Dynamics ERP and CRM to flourish your business, get in touch with us.

Consequences of Non-compliance under GST

GST is not an unknown topic now. GST made its way into Indian Economy from July 1, 2017. The implementation of GST is a huge step in the indirect taxation reform. However, it’s vital to not only implement any tax law smoothly across the nation but also to take steps against tax offenders. Therefore, the government has laid down various measures to check noncompliance under GST. These vary based on the severity of the offense. To encourage compliance with India’s new GST tax regime, the government has come up with a three-pronged approach: interest, monetary penalties, and prosecution.

 

1. Late fee

 

Offense Late fee
A person fails to furnish details of outward or inward supplies, monthly return or final return by the due date ₹ 100 for every day during which the failure continues, subject to a maximum of ₹ 5000
A person fails to furnish the annual return by the due date ₹ 100 for every day during which the failure continues, subject to a maximum of quarter percent of the person’s turnover in the state where he/she is registered
Deductor fails to furnish TDS certificate to Deductee within 5 days of credit to govt. ₹  100 per day, subject to max of ₹ 5,000
2. Interest (Rates yet to be fixed)

 

Offense Interest
A person fails to pay tax despite being liable to pay tax Interest on the tax due will be calculated from the first day on which the tax was due to be paid
A person commits any fraud activity related to input tax credit or output tax liability Interest on the undue excess claim or undue or excess reduction
A recipient of a service fails to pay to the service’s supplier the amount of service value, along with tax payable thereon, within 3 months from the date of issue of invoice by the supplier Interest on the amount due will be added to the recipient’s liability
3. Cancellation of Registration

 

The circumstances under which a person’s registration will be cancelled are:

  • Not furnishing returns for consecutive 6 months despite having a regular transaction
  • Not furnishing returns for 3 quarters
  • Failing to commence business within 6 months from the date of voluntary registration
  • Obtaining registration by fraud or by wilful misstatement or suppression of facts
4. Penalty

 

Offense Penalty
  1. Supplies goods and/or services without issuing or issuing incorrect or false invoice
  2. Issues an invoice without supply of goods and/or services
  3. Fails to pay the tax to government even after collecting the tax from the consumers
  4. Fails to collect the tax or collects less tax as decided by the government.
  5. Takes input tax credit without original receipt of goods and/or services either fully or partially
  6. Obtains refund of tax by fraud
  7. False financial accounts/ false return filing.
  8. Fails to obtain registration despite being liable to be registered
  9. Furnishes false information regarding registration
  10. Transports taxable goods without documents
  11. Hides the actual details of turnovers
  12. Fails to maintain books of accounts and documents
  13. Issues an invoice or document by using the identification number of another person
 10,000 or an amount equivalent to the tax evaded.
Aids or abets any of the offenses listed above Penalty may extend to ₹ 25,000
Any offense for which a penalty is not separately provided under the law Penalty may extend to ₹ 25,000
5. Confiscation of Goods and/or Conveyances and Penalty

 

Under GST, certain offenses will lead to confiscation of goods and/or conveyances and levy of penalty both. The amount of penalty will be ₹ 10,000 or an amount equal to the tax evaded will be levied under the conditions that a person:

  • is liable to pay the tax for the goods he/she is dealing with but hasn’t applied for registration
  • intents to evade tax by breaching any provisions while supplying or receiving goods
  • breaches any provisions by using a conveyance for carriage of taxable goods
6. Imprisonment and Fine

 

Offense Period of imprisonment
  • Troubling the officer in his/her duty and is trying to destroy any kind of witness
  • Failing to supply any information required of him under the law or supplying false information
Imprisonment of 6 months with fine
 
Amount of tax evaded or wrong refund or input tax credit wrongly availed is between ₹ 50 lakhs to ₹ 1 crore Imprisonment which may extend to 1 year with fine
Amount of tax evaded or wrong refund or input tax credit wrongly availed is between ₹ 1 crore to ₹ 2.5 crores Non-bailable imprisonment which may extend to 3 years with fine
Amount of tax evaded or wrong refund or input tax credit wrongly availed exceeds ₹ 2.5 crores Non-bailable imprisonment which may extend to 5 years with fine

 

Though the steps for noncompliance under GST are strict, they will avoid tax evasion and corruption in the country. Surely this new tax structure is alien to people and so, many organizations argue that the actions against non-compliance should be made lenient. Hence, Government has ensured that if  noncompliance under GST happens erroneously, there is an ample room for minimal penalty.  Though the burden of proof always lies on the assessee.
Check if you are ready for GST or not. If you have any queries regarding GST compliance, get in touch with GST experts of Intech.

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