Codit – IT specialist in the integration of people, applications and ‘things’ – was looking for a clear, versatile, and reliable system to monitor and analyze the figures in various branches worldwide. A new accounting package was linked to BrightAnalytics: a professionalization of both the strategic management and the operational approach. Thanks to BrightAnalytics, the complex matrix of branches and projects is easy to analyze and compare: an efficient approach for effective KPIs, both financially and operationally.
Codit connects organizations with their customers, employees, suppliers, and partners through technology. It brings together data from different systems to optimize the automation of business processes and to enable new business models. It is crucial that the right information, in the right form, arrives at the right place at the right time.
This is exactly what Codit wanted for its own financial and operational reporting: to report the right data to the right person at the right time. Working with various Excel spreadsheets became complex, time consuming, and incorrect. Therefore, the technology company went in search of a user-friendly reporting tool.
Exact Online, Codit’s accounting package, was the first to be linked to BrightAnalytics. Additionally, other business applications such as the time registration system Replicon were also connected, so that financial data could be combined with operational figures. This provides companies with services activities, such as Codit, clear insight into KPIs, such as the billable rate or gross margin per project, customer, or even employee. “The more extensive and specific the data to start from, the more versatile your reporting possibilities become,” explains CEO Stijn Degrieck of Codit.
“Every night at 2 a.m., the new figures are automatically loaded into BrightAnalytics. When I arrive at my desk in the morning, I always have up-to-date data available. Just the way I like it, because the dashboard is customized to our needs.”
Thanks to BrightAnalytics, Codit presents clear reports to strategic management on a monthly basis. A high-performance overview of direct and indirect costs makes budgeting concrete. “By comparing the budget with actuals and forecasts, we work on our KPIs efficiently. We are also on the ball operationally. We see where we can best deploy our people, monitor the utilization rate, analyze the profitability of individual projects and compare the performance of our branches.”
At the same time, a lot of manual work is saved, almost equivalent to a full-time employee. That time and energy now goes to the intellectual work: interpreting the figures and responding appropriately. Stijn Degrieck: “Moreover, we prevent human errors. The figures are 100% reliable. We now dare to take more risks, and develop to our full potential.”
A clear visualization based on actual data without any work on data collection: Stijn Degrieck is convinced of the positive impact of BrightAnalytics. “In my opinion, it is an added value for every company. You can be short on time with full confidence in the numbers and your reporting. I would recommend it to everyone.”