The evolution from Excel to Power BI is not just a software upgrade—it’s a strategic development of your finance team’s capabilities. Power BI offers complete tools that address all needs of modern finance operations, from Corporate and Management reports to the team’s Performance KPi’s.
Here’s why making the switch to Power BI might be the next big step for your finance team, and how Penon Partners is uniquely positioned to guide you through this transformation.
- Saving Time on Deadlines
Power BI allows users to integrate data from various sources (Excel, ERP…) into a single platform. Its data modeling tool, Power Query (although this one is shared with Excel), allows teams to combine, clean, and refine data easily, regardless of coding knowledge. Say goodbye to VLOOKUP and pivot tables! Power BI integration, automation, and data processing features surpass Excel’s, reducing the time required for report generation and therefore, all the hidden cost of time spent on low-value activities.
- Improving Data Quality
Various studies over the past few years report that almost 90% of Excel spreadsheets contain “significant” errors. This statistic highlights the critical need for more robust data management and analysis tools like Power BI, which can help reduce the likelihood of such errors while improving security and compliance.
- Real-Time Analytics
Power BI, connected to your ERP, delivers live updates, giving finance teams the ability to provide management with the necessary insight to make informed decisions promptly.
- Superior Visualization Tools
Power BI offers advanced data visualization tools that go beyond the capabilities of Excel. Let’s be creative! Dashboards are interactive, easy-to-understand, and easily shareable. With drill-down and drag-and-drop functions, one report can fit it all!
- Implementing Key Performance Indicators (KPIs)
Customizable dashboards and real-time analytics allow for the implementation of dynamic KPIs for your Operation finance (Account Payable, Cash Collection, Billing…), enabling your team to track and achieve their performance objectives.
- Retaining and motivating Employees
With Power BI, the time to produce reports is minimized, allowing more time for analysis. Employees embrace monthly closing with serenity and stay under the impression of developing their skills. Reducing routine tasks and empowering users increase their satisfaction and help retain valuable team members.
- Cost Efficiency
The Forrester Total Economic Impact™ Study commissioned by Microsoft in March 2020 calculated an ROI of 366%, with a payback period of less than six months: improved productivity, higher autonomy from IT departments, faster access to information, better agility in decision-making, employee retention… Power BI offers a cost-effective pricing structure, starting at $10.00 per user.
- The Penon Partners Advantage
Ready to transform your finance team’s capabilities with Power BI? Let Penon Partners lead the way. At Penon Partners, our consultants have a financial background, combined with expertise in Power BI. We’re not tech developers with limited finance knowledge, we’re finance professionals who understand your language and your needs. With Penon Partners, you have a guide who speaks your language and understands your specifications.
Our goal is not to provide you with new reports; it is to help your teams make the switch to Power BI, to empower them so that they are able to maintain and create their own reports.
From system integration to custom dashboard creation, from contextual team training to 4-hands report development, we ensure that your journey to Power BI is smooth and successful.
Transitioning to Power BI with Penon Partners offers more than just technological upgrades; it’s a strategic investment in your finance team’s future.
If you’re ready to dive in or want to learn more, schedule a call with me here.