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Decision support is the data, information systems, and human knowledge that give you what you need to make better business decisions. Whether you’re trying to decide how to grow your business, identifying weaknesses in your operations, or addressing a crisis that has arisen and requires immediate attention, decision support makes you and your company stronger by facilitating good choices and establishing a knowledge base for future planning.
Decision support services help you make better decisions about the operations of your business, and they help you feel more confident about those decisions because you know that they’re based on facts and reliable data. Back Office Center’s job is to provide you not only with data but also with information – hard data placed in context, so it can be understood and put to good use – so that your choices and plans for the future are sound ones.
You don’t have the time to make decisions that are not informed. But that doesn’t mean you have time to hunt down the relevant data, determine what it all means, chart potential outcomes, and implement major plans based on that information. We have all of the necessary data and resources already on hand, and our time is devoted entirely to you, your needs, and the success of your business. We perform and present the analyses that will help you throughout the decision-making process. All you have to do is take that information and apply it to your business choices – still not a simple task, but made easier by having Back Office Center to do advance work on your behalf.
We know what information you’ll need to make those decisions. A lot of data goes into major and even minor business decisions – more than you might think, and in formats different from those you might expect. We know what that data is and have it in the form of documents, records, and analytics aggregated through the suite of functions we’ve performed for you. And we know where it is – stored centrally and securely to avoid opportunities for data loss, corruption or human error, but easily accessible to give you everything you need to make informed choices.
We have that information – and more. Understanding of your industry, our experience, the financial and accounting field, and the current economic climate lead to analysis and forecasting that is more likely to be and remain pertinent. We combine your data with research, observation, and the knowledge and expertise of our analysts to turn it into information that is relevant for real-world application.
We rely on the best of the best resources. We start with technology – an integrated system that takes all of your available financial data, isolates relevant data for your needs, and compiles it into comprehensive reports, analyses, and projections. We move forward with experienced analysts and financial experts, working from industry best practices to help you interpret that information and apply it to the issue at hand.
The decision-making process starts with a thorough understanding of where your company stands in the present. We use all of the data available to us to develop a model that can be used for forecasting and evaluation of potential business choices.
Document management. The very beginning of the decision support process starts with your first interactions with Back Office Center. As soon as we start sorting and imaging documents, performing functions like account reconciliation and payroll disbursement, and entering transactions into your books on a daily basis, our system has a growing body of the data it needs to produce usable reports and models.
Cash flow analysis. As your cash flow is a reflection of your assets, liabilities, obligations, spending habits, and business operations, a thorough analysis lays a foundation for future planning and decision-making. Detecting chronic shortfalls and missed opportunities allows us to recommend improvements that can be made before you commit to any further business decisions.
Resource allocation analysis. As important as knowing what you have is knowing how you’re using it. We survey your financial, physical, and human resources to develop a picture of your resource allocation and how your resources can be better used for stability and growth.
Comparative sales. Our system can compare current sales and sales trends to those from a week ago, a month ago, a year ago or longer to identify changes, both negative and positive, that call for action to correct or augment.
Once all of the necessary data is processed and the base analyses have been performed, we’re ready to put that newly generated information to use for purposes of forecasting and planning.
Concept ranking. All data is valuable when you’re making critical business decisions – but some data is more valuable than others. We help you establish a conceptual hierarchy and a decision-making workflow to optimize not just the information you’ll rely on, but also the process you’ll follow to address the problem you’re working to solve.
Multistage forecasting. Multistage forecasting creates a framework for customized modeling and forecasting. It aggregates, analyzes, and reconciles data over a series of stages to eliminate noise and inconsistencies and develop more accurate, tailored forecasts.
Revenue projection. Using the model built on your data by our system, we’re able to look forward in time to assess the health of your business in the wake of a number of different decisions. You’ll be able to see if you’ll have the resources necessary to expand when you hope to, or when you’ll need to course-correct or find some source of external funding if things start to dry up.
Benchmarking. Using the data compiled and synthesized throughout the process, and in light of recommendations arising from that process, we compare your company’s performance to that of your competitors. That helps us to identify weaknesses and opportunities to improve your operations, and to establish steps on a steady, measured path toward your goals.
As you arrive at your decisions with the help of our system, and as you develop and implement plans for next steps, we provide resources to help you maintain course.
Decision trees. A decision tree looks at the possible outcomes of a given choice – and then the possible outcomes of each of those outcomes, and so on until a map of results is created and positive outcomes can be traced back down the tree to determine which series of choices led to positive results.
Reports. For your own reference, and for the reference of interested parties, customized reports provide easy-to-understand information detailing the data analysis, forecasts, and projections developed throughout the process.