Keyhole visibility is a concept that is familiar to many Small & Medium Businesses (SMBs). This type of business visibility is equivalent to trying to see what’s happening in a room by looking through the keyhole of a door. Likewise, with a narrow view of your business, you are forced to make critical decisions with only a small portion of information.
It’s largely due to keyhole visibility that SMBs are constantly challenged with responding quickly and efficiently to the customer needs in order stay profitable and competitive. The top three of these challenges are as follows:
1. Disconnected processes
This makes it difficult for you to understand how customers engage with you across different channels, or how profitable they are to your business. For example, this may happen when sales have one view of a customer, customer services another view, and marketing yet another view. Information is gathered and stored in silos, and processes around these are not connected.
47 percent of SMB owners believe that integrating information across multiple disparate systems to get a single view of their business is one of their top three challenges.
2. Spreadsheet chaos
Most companies, regardless of size, tend to have data tied up in spreadsheets that have been dumped out of business management solution that helps run their company. This means that there’s no way to get the real-time, accurate insights that you need to respond to critical issues in your company thathappenat any given moment.
51 percent of SMB owners state that getting information about how their business is doing in a timely manner to drive faster, more informed business decisions is one of their top three challenges.
3. Costly, laborious processes
Complete visibility requires a certain level of automation of data and analysis that can be available to all that need it to make decisions. This means doing away with long, drawn out processes and equipping your business with an intuitive Business Intelligence solution that pulls insights from your business management solution, and places them into interactive reports to help your people share and collaborate information. This will also give real-time insight on key performance indicators that matter to your business at little cost.
43 percent of SMB owners believe that getting better, timely reports and information to drive down costs is one of the top three challenges they face in optimising their business visibility.
No matter what your requirements are, becoming aware that it’s time to unlock and open the door to complete business visibility is the first step on a journey to running a smoother, more successful business. Check out our e-book,Unlocking the door to complete business visibility, if you’re tired of standing on the outside of your business.