Answerthink, Inc. introduced Rapid Insight, a business intelligence solution framework which quickly and easily adds powerful decision support capabilities and financial analytics to leading business applications. The solution combines the capabilities of leading financial analytics software with integrated proven best practices and business metrics from The Hackett Group, an Answerthink company, to provide companies with clear insight into current performance and market trends, enabling executives to make smarter, faster and more efficient decisions.
Answerthink's Rapid Insight solution can help companies improve planning, forecasting, reporting, and analysis in as little as six to eight weeks, through the implementation of scorecards, dashboards, portals and other tools as an extension to existing Lawson, Oracle, PeopleSoft, SAP, or Siebel environments. Rapid Insight is designed to utilize analytics components from leading business intelligence software vendors, as well as embedded analytics capabilities in popular business applications. With this solution, companies can establish a foundation for world-class performance management in finance, human resources, sales and customer service, supply chain, procurement and other key areas by implementing up to 30 Hackett best practices in business performance reporting and analysis.
One major goal of Rapid Insight is to cut the time that companies spend compiling information, so that they have more time to analyze it. According to Hackett, average companies spend almost half their time compiling data and half on analysis. But utilization of best practices enables world-class companies to dramatically streamline the data compilation process, so that they can dedicate almost 90 percent of their time to analyzing information. Hackett has also found that highly effective business intelligence solutions can help companies reduce manual reporting by up to 50 percent, cut reporting cycle time by up to 75 percent, and trim support costs for managerial reporting by up to 25 percent.
To help clients implement Rapid Insight, Answerthink utilizes its Business Process Intelligence (BPI) approach and tools, which facilitates business performance improvement through a coordinated approach that simultaneously addresses the key business drivers of people, process, technology, and information. According to Hackett, companies that use this coordinated approach can achieve almost five times the business value that can be attained by focusing solely on a technology implementation.
Answerthink's BPI knowledge repository also provides Answerthink consultants with application-specific tools designed to simplify the process of implementing best practices in leading software solutions while maximizing the value clients receive. These tools include implementation and configuration guides, current state questionnaires, process flows, and fit/gap requirements matrices.
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