Anthony Friday – Executive Director BrainBox
Enhanced Business Decision-Making
A Case Study
“We didn’t know what financial insight we could get until we started using Reach.”
Overview
The Company
The Brainbox Group is a collection of companies that are dedicated to unleashing the potential of both individuals and the organizations they work for. Their services are designed to address the unique needs of each client, with a focus on providing tailored solutions that help individuals and organizations achieve their goals. Whether it’s through leadership development, training programs, or other customized services, they are committed to delivering tangible results that drive growth and success.
The Challenge
Tony relied on Xero to maintain financial data across multiple companies, but he found that it lacked the reporting capabilities he needed to make strategic decisions for the future. To address this issue, he asked his accountants to find a financial data reporting tool that could assist him in making organizational decisions for the future.
The Solution
Brainbox continued to use Xero as its accounting platform, but Reach Reporting was implemented to pull data from Xero and populate metrics, reports, and dashboards that support internal business decision-making.
“Reach Reporting allows us to get deeper into our data than our accounting software does. Xero chooses what we can or cannot see, limiting what we know. Reach allows us to produce almost any metrics that we want to consider. It provides us with data that is always up to date and at our fingertips,” said Tony. “For me, Reach Reporting is not a financial tool; it is the most valuable business decision tool we implemented across our business. Reach Reporting lets our accountants focus on our fiscal strength whilst enabling the Directors to make agile and fully informed decisions.”
The Summary
Reach Reporting enabled Brainbox to enhance its business decision-making by providing a comprehensive and customizable reporting platform. The platform’s ability to pull data from Xero and present it in easy-to-understand reports and dashboards allowed Tony and his team to make informed decisions quickly and efficiently. With Reach Reporting, Brainbox was able to streamline its financial reporting process and focus on its fiscal strength while making agile and fully informed decisions.
Benefits
Presentation and Interpretation
“For non-accountants, Reach Reporting makes it easy to see critical changes and trends that usually elude us when looking at statements. Executive decision making is rarely a single-person cycle, it involves people across and throughout the organization, including some who may not have a financial or accounting background,” Tony shared.
Bridge the Gap
“I know what I want to see, but the data provided by the Accounting team often needed more explanation to move from ‘data’ to ‘information’. Reach Reporting bridged that gap effectively for us, allowing us to interrogate and consider our Xero data in ways that we had not previously thought possible,” Tony continued.
More Profound Knowledge
“Every month I needed to impatiently wait for results to be presented. However, with Reach, when I change the reporting period, all my metrics reflect my data exactly how I want to see it for any report I want to, in seconds without the wait.” Tony said.
“It is easier to drive the company’s direction when we receive, understand, and can manipulate the data we want on demand.”
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