In the beginning, a pure startup mode will primarily invest in resources and assets that will directly impact the productivity and build the foundation of the business. For instance, if it’s a pharma manufacturer then the business owner would invest heavily in collecting the necessary items for making drugs, equipments, machines, and the team required to make the product. Little attention is generally paid to the backend office and investing in a software that can also impact the business line in one ways or the another.
If one has to believe in a smart tool that provides instant insights on hand, then it has to be Business Intelligence (BI). The ever-popular excel sheets and spreadsheets covering the desks of finance managers, sales heads and financial personnel are being retired drastically. They are being replaced actively with smart and intelligence tool that has personalized dashboards, reports and other capabilities. However, these are no new thing on board.