House of Control acquires Business Analyze AS: A Strategic Step within Business Intelligence

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Høvik, 21 April 2021: House of Control Group AS (HOC) announces today that the company has entered into an agreement to acquire Business Analyze AS. The acquisition will enable CFOs to gain better control over data from the entire business in a common dashboard, including the linking of House of Control’s ‘best-of-breed’ tools for the CFO.

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    News: Spring ’21 Product Release

    Product news. Spring 2021 release. New user interface. Faster…

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      New Busines Analyze User Interface (UI): How to navigate

       

      Dear Business Analyzers!

      We’re excited to share with you a major updates to Business Analyze user-interface.  During the past few years, you’ve suggested many ways to improve the overall user-experience – now are happy to bring those suggestions to life.

      We’ve recorded a 3 min video to help you understand the changes and take advantage of new features.

      Watch video

      If you have any question regarding the new navigation or when you will be upgraded to the new version, please contact customersuccess@businessanalyze.com.

      See also: Spring ’21 Product Release Overview

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        Data-driven Leadership: How to maneuver with KPIs

        In a world that is changing faster and faster, it is crucial for your business that you have up-to-date and reliable status information from day to day. Regardless of the situation, you want to know what’s happening so you can maneuver in the right direction. With clearly defined KPIs and a solid data base to help you make informed decisions, you are far better equipped to guide your team and reach key goals.

        Business leaders have long used KPIs (key performance indicators) as a valuable tool for implementing strategies.

        In recent years, the focus on KPIs has intensified and KPI-tracking is more important than ever before. Many businesses readily admit they are obsessed with KPIs.

        The obsession continues to grow as companies capture more data which they can use to improve performance. With the right application, data can be used to guide decision-making, optimize processes and reach goals across all levels and functions of the business.

        While there are many factors to consider when implementing KPIs, there are 3 steps in particular that will help you guide your team to success.

        1. Set a course

        A KPI is a measurable value that helps guide organisations towards their goals.

        To function effectively, KPIs must be linked to the company’s strategic goals. These are then broken down at a tactical level (department) and then at an operational level (individual), so that everyone in the company gets ownership of the goals.

        Choosing the right KPIs can be tricky. No matter which KPIs you land on, do not measure too many KPIs just because you can. When there are too many figures to keep track of, goal management becomes too complicated. Each department should only deal with a handful of carefully selected KPIs.

        What are KPIs for marketing, sales, finance, customer success and more? See KPI Examples.

        2. Navigate

        In order to navigate with KPIs, data must be presented in a way that is easy to understand and access. This is done with the help of KPI dashboards.

        KPI dashboards use data visualisations to help you continuously evaluate performance and make necessary changes. Easy to understand graphs and charts help you assess what’s happening and what you can do to improve.

        By using KPIs effectively you will be able to answer questions such as:

        • What is the  current performance level (status)?
        • How close the company, team, department or individuals  to their target (actual versus target)?
        • How is performance changing over the past days, weeks, months (trend)?
        • How is our performance compared to  to internal or external standard (benchmark)?
        • What an we do even better (segment analysis)?

        With these answers on hand, it’s easier to anticipate and adapt to changing conditions.

        Visualise KPIs on a dashboard

        Picture: Individual, regional and overall goals compared to progress on a KPI dashboard.

        3. Implement and follow-up

        It is essential your organisation has a common understanding of goals and what you are trying to acheive. Many strategies fail because goals were communicated once, but not continually reinforced. Leaders must gain and maintain commitment by ensuring their teams understand what they are trying to acheive and why they are focusing on exactly these measurements.

        Once teams are committed, KPIs are the basis for coaching, acting and motivating the organisation. Every step towards reach targets is an accomplishment which should be recognized.

        The real value of working with KPIs is realised when KPIs are used consistently and regularly in leader meetings, team updates, and one-to-one meetings. If all indicators are pointing in one direction, it doesn’t help if no one follows them up.

        Final word—Make it simple.

        Many organisations struggle with the complexity and diversity of their company’s data. Data specialists, sales operations, department managers and upper management can spend a lot of time gathering data and charting KPIs.

        Businesses should set up modern systems to organize KPI-data without manual routines. The majority of businesses have more than enough data in their current databases.

        An effective business intelligence tool will gather performance data, organize it into meaninful information, and help you motivate your team towards successful goal acheivement.[o

        Additional resources: Visit the KPI Gallery to see best practice examples of how to visualize KPIs for sales, service, finance and more

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          Real-time insight into channel partner performance

          Channel Partner Sales KPI-tracking and analytics

          Business Analyze enables organisations to effectively track performance (Partner KPIs) and gain insight into their channel partner relationships.

          By providing a simple way to analyze and share data, both Channel Partner Managers and their agents, resellers, distributors or other partners can monitor the activities that lead to success and work proactively to build strong partnerships.

          Why channel partner KPIs are important

          Companies invest time and effort into finding the right sales partners. Once the stage is set, the relationship must continue to generate clear and measurable value. If partners aren’t regularly reminded how their work generates value, they lose motivation and sales die out.

          While this may seem obvious, it’s easier said than done.

          A key problem channel managers struggle with is poor visibility into the pipeline. Without being able to see down the pipeline and track change over time,  it’s impossible to gauge revenues and assess forecast accuracy.

          Partners, on the other hand, may feel that sharing their pipeline is not worth the effort. “What value does it bring?” they ask.

          That’s where channel analytics come in:

          Channel analytics provide visibility into the relationship and enable partners to see how much value they generate. Transparency and communication is key to building trust.

          The benefits of channel analytics include:

          • Improved sales processes due to greater visibility into what works and what doesn’t
          • Greater transparency in revenue generation and financial compensation
          • Increased motivation by providing channels with real-time metrics and commission reports
          • Better forecasting accuracy
          • Less administrative paperwork with automated reporting

          When Channel Managers provide partners with real-time visibility into earnings, partners are more likely to provide quality sales data in return.

          Better quality data helps Channel Managers work proactively to help partners close deals. It’s a win-win situation.

          What partner KPIs to measure

          There are many KPIs and supporting metrics that may be useful in building relationships. Channel Managers define these together with partners based on growth goals and sales strategy.

          Some examples include:

          • Total and average revenue per partner
          • Revenue per product/segment
          • Number and value of open sales opportunities
          • Number of new opportunities registered
          • Lead time and other conversion rates
          • Contribution margin
          • Sales commission earned

          How to measure channel partner KPIs with Business Analyze

          Business Analyze collects sales data from spreadsheets, customer relationship management systems (CRM) or other databases and presents reports on live dashboards.

          Dashboards make important information about relationship visible and easy to understand – across channels and on channel-by-channel levels. Rather than emailing around spreadsheets, important data is readily available for review and analysis.

          Partners access their own information through secure portals. When the underlying data changes, dashboards are updated to ensure partner managers and their partners have the latest insight into sales processes and commissions.

          Each dashboard is customized to user requirements.

          Start with setting goals

          One of the most important steps in successful channel partnerships is to agree clear measurable goals.

          Once this  is done, you can start capturing data and track performance with  Business Analyze.

          For more information, contact sales@businessanalyze.com

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