Sell more—more intelligently—with MYOB Acumatica’s BI reporting

We explore how BI and data analytics capabilities in MYOB Acumatica (formerly MYOB Advanced) helps businesses boost sales through better decision-making.

Identifying what information is important and what actions to take is becoming the central struggle for businesses, who now collect and manage enormous amounts of data. 

Data overload is not unique to large corporations—even small to medium enterprises are generating significant amounts of information from multiple sources including websites, e-commerce platforms, business management software, CRM, social media, in-store/POS technology, and the Internet of Things (IoT).   

Writing for marketing platform Hubspot, Allie Decker says data has overtaken intuition as the driver of effective sales management because it provides metrics that inform better decisions across the entire customer journey.

“Today’s businesses need to make sales decisions in response to market changes, competitor activity, customer preferences, and company-wide campaigns. Plus, as the cost of acquiring new customers continues to rise, sales teams need to focus on targeted efforts to preserve resources,” Decker says.

To spend less time on the wrong prospects or interpreting data, and more time growing your revenue—business intelligence (BI) capabilities are critical. Given the growing complexity of customer touchpoints and data streams, it also makes sense to manage BI within an integrated environment. 

MYOB Acumatica is a powerful enterprise solution that helps you centralise business data and transform your reporting, analysis and day-to-day decision-making for improved sales. 

A cloud ERP Solution makes analytics at scale a viable option

Research by McKinsey found that fast-growing sales organisations from around the world are those that use analytics more effectively.

According to McKinsey: “Well-designed analytics programs deliver significant top-line and margin growth by guiding sales teams to better decisions. But that only happens when companies can do two things well: focus on areas where analytics can create the most value, and implement wisely.”

Embracing BI often poses a barrier when it comes to:

• Ensuring reporting and analysis is based on accurate and complete data
• Ensuring the most relevant metrics or activities are captured and surfaced
• Making it easy for your team to find/interrogate/share data without IT expertise

This is why a flexible, cloud-based enterprise solution that incorporates BI tools, configured specifically for your reporting needs by an experienced implementation partner, is an excellent way to kick-start your business analytics capacity. 

MYOB Acumatica is the ideal enterprise-wide solution for small to medium businesses looking to leverage data because it gives you:

• high-quality, centralised data, 
• powerful reporting insights delivered in an intuitive self-service environment, and 
• an integrated system in which to take action, through streamlined cross-functional processes and workflows. 

Give sales and marketing more ammunition with MYOB Acumatica

MYOB Acumatica is a comprehensive cloud-based enterprise resources planning (ERP) solution that includes customer relationship management (CRM) functionality. 

Your marketing and sales activity will be more coordinated and automated with the platform’s customer management module. Importantly, this customer data is seamlessly integrated with your company’s financial management, supply chain processes, projects, and field service activity. 

Furthermore, a single view of customers and the sales funnel is enhanced by fantastic analytics and interactive dashboards. BI reporting is a standard inclusion of MYOB Acumatica. 

In-built BI and reporting functionality allows your team to extract insights from all data captured within the platform. Sales team members can also customise the KPIs they see based on their specific role, region, product lines, and customers.

Managers can easily access real-time insights into sales trends, top customers, product performance, costs and margins, opportunities, orders, and outstanding balances.  

Sales dashboards drive more insightful decision-making

Reporting dashboards in MYOB Acumatica help your sales team direct their efforts where they’re needed, and close more sales. Because it’s a cloud ERP solution, your team can access MYOB Acumatica’s reporting tools on any device, at any time.

Every dashboard is interactive, allowing users to quickly drill down to the source transactions. 

Let’s say your sales manager tracks month-to-date sales in comparison to previous months, and notices that sales for a particular month are well ahead of what was expected. The manager can click through to see what was actually invoiced and by who. 

Analytics of this kind—not easily available in many businesses—can lead to important revelations about:

• Products or product categories that contribute most to profits
• Changes in customer buying habits, eg., order size/quantity/frequency 
• Changes in product preferences and seasonal popularity
• Changes in customer mix (industry/size)
• Performance of different regions and sales representatives

Knowing more about where your money comes from and what your customers want is critical for purchasing the right inventory, setting margins, spotting trends, and remaining competitive. For instance, you might discover a contingent of customers who previously bought 2-3 products from your portfolio but now only buy one product. 

Armed with relevant information, you can reach out to your team or directly to customers to determine:

• Was there a change in the quality or effectiveness of your products?
• Did they switch to a competitor to source products at a cheaper rate?  
• Is there a newer/better version of the products available elsewhere?

BI reporting and analytics in MYOB Acumatica enable your team to thoughtfully nurture sales, develop marketing strategies, and engage customers in order to increase revenue growth. 

Leverage data for better sales management with MYOB Acumatica

By implementing MYOB Acumatica to run your business, finance, sales and customer management processes—you’ll benefit from a unified database, efficient workflows, incredible company-wide visibility and robust reporting and analytics.

Finding the ideal customers, selling the right products at the best price, and maximising each customer’s lifetime value are all easier when you leverage data to more accurately understand customers and adjust sales tactics.

You’ll be able to perceive sales performance like never before, discover where you’re actually making (or losing) money, and make timely decisions that enhance customer service, profit margins and cash flow.  

Get in touch with the Leverage Technologies team to chat about boosting sales by leveraging the BI capabilities of MYOB Acumatica (formerly MYOB Advanced) within your business.