Microsoft Power BI (Business Intelligence) is giving small business entrepreneurs big business tools to simplify the chore of reviewing their books. There is a free version of the software, but even Microsoft Power BI Pro offers very affordable pricing. Read on to find out more.
Combing through monthly or yearly financials and understanding what it all means for your business can be a daunting task. Just because you own a business doesn’t mean you enjoy trying to read and cross-reference numbers. Data entry from your CPA or bookkeeper can provide quick-to-read financials for your entire team. The easy to use dashboard makes creating detailed reports fast and simple. Whether you have scattered colleagues or scattered ventures, having one home base to collect and store all your information can dramatically change the way you organize and analyze your business.
Microsoft Power BI Desktop is a new downloadable accounting software app created to let entrepreneurs better manage their data. It provides access from all major sources used to store data (Excel, PowerPoint, One Note, Outlook, etc.) and allows users to craft their own visual presentations. By combining several pieces of information from various points of entry it reveals a custom snapshot of information.
The dashboard is easy to navigate and to find resources to edit or review data. Changing and scrubbing new charts is just as effortless by adjusting the filter criteria used to form an array of graphs and charts. The illustrations your bookkeeper can create allow business owners to better understand what your data means for your organization.
The smallest of businesses can find the desktop version helpful when trying to identify seasonal trends and find solutions to cash flow shortages. As you look forward to the future of your business, data-driven forecasts can be used to assist with budget planning and strategic growth.
Microsoft Power BI Pro serves teams looking to connect and collaborate shared information to create a consistent and data-driven corporate vision. It has a tiered control feature that grants access to key members to edit some data while not being able to alter other work. This allows different branches of your company to come together to share ideas and information from anywhere.
The publishing feature keeps other members of the company engaged and informed while protecting the integrity of the information being presented. You can also engage with other industry Power BI professionals to see how your business is stacking up within your industry. Sharing some information inside and publishing your own information outside the perimeters of your organization provides an industry-specific community where entrepreneurs can learn from each other across the application. The Pro version grants access to forums and boards catered to users to help each other use the app.
Microsoft Power Bi pricing is incredibly economical. When it comes to understanding more about your business, the desktop is worth the free download. At the time this article is being written, when you download the Microsoft Power BI Desktop, it also gives you the option to sign up for a free sixty-day trial of Microsoft Power Bi Pro. After that, Pro is $9.99 per user per month.
Here at Fusion CPA, we are dedicated to helping entrepreneurs succeed in their career endeavors. With nearly seventy years of combined experience in business advisory, bookkeeping, and taxes, we partner with you to achieve financial success together. We understand transparency throughout an organization is critical to the longevity of its success.
By digging into the information we gather by analyzing your business data, we can help with the best strategic business plan based on your personal goals. Call us to find out how we can help your business succeed.
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