The CPA firm Beierholm has found that information sharing with TARGIT Business Intelligence creates a positive benchmarking culture within the company. Because it’s easy to see who is performing well, a healthy, collaborative atmosphere has developed in which people are more open to learn from each other.
Another important benefit for the management team is speed. Before implementing TARGIT, partners had to wait for monthly paper reports to evaluate company performance. Today, reporting speed has improved by an average of 20 days and irregularities can be caught and acted upon immediately.
The CPA firm is such a firm believer in the value of improved focus on key performance indicators that it urges clients to follow suit. Tage Borregaard Pedersen, Beierholm’s Managing Director and CPA states: “We recommend our clients to consider implementing an analysis and reporting tool like TARGIT. From experience with our own customers, companies are not able to use traditional reporting tools to get the corporate information and overview they must have. With a tool like TARGIT, critical details become graphically visible and the company can then act before it is too late.”
Employees and departments track their own performance on a daily basis. The TARGIT-based system monitors customer hour registrations, billable fees, sales by department, invoice statistics, budgets and budget follow-up, number of sick days, etc. As the information is available across the company, it quickly becomes clear when something or someone is not performing as expected.
TARGIT is a knowledge bank
The firm’s open information policy not only increases employee satisfaction – it also boosts productivity and profits. With offices scattered around Denmark, Beierholm went shopping for its own company-wide tool to transform large quantities of operational data into actionable management information.
After a thorough investigation of the market, the firm chose TARGIT. The solution is seamlessly linked to the company Intranet. Every day, all 350 employees quickly access analyses and reports with up-to-date corporate data. This “public knowledge bank” has now become the primary source of company information for partners and staff.
Beierholm provides a long list of Danish companies with accounting and business consulting services. Based on their experience with small and medium-sized enterprises in many industries, Beierholm believes strongly in empowering employees by giving them regular access to – and feedback on – key performance indicators.