Insights helps you to improve Costs and Spending.
Understanding and analyzing a company’s financial performance is critical for effective decision-making. MoreThanDigital Insights gives managers a detailed view of an organization’s costs and spending. This information allows them to track spending and cut costs in different areas and departments. With peer insights, this information can improve profitability and allocate spending better.
Analyze your Costs and Spendings.
MoreThanDigital Insights can help to see where costs are occurring to help reduce spending, increase efficiency, and free up capital to better invest in business growth. We can help your business make more informed decisions about where to allocate its resources by analyzing costs and spendings across all departments and benchmark it against industry averages or your relevant peers.
Analytics & KPIs
We help every organization to analyze relevant numbers and key performance indicators (KPIs) for data-driven decision-making. Focus on the analytics that have the biggest impact.
Comparison & Benchmarks
Insights allows you to compare your business to industry averages or customized peers to see how well you are performing. This information can help you make informed decisions about your business’ future.
Costs and Spending Insights
for Data-Driven Decisions.
Making data-driven decisions based on cost and spending insights is essential for businesses. By understanding where investments are made, companies can allocate resources more efficiently and strategically decide where to give future funding.
MoreThanDigital Insights can provide this information, allowing businesses to see where they are overspending or underspending in specific areas. This data can help companies to optimize their spending and make more informed strategic decisions.
Insights helps you manage your Costs and Spending
With MoreThanDigital Insights, you can understand your cost structures, analyze your spending across departments and compare the results with your peers.
- Costs per employee/FTE
- Costs in % of Revenue
- Spending per division
Why analyze your Costs and Spendings?
Organizations need to track spending and costs to get an overview of where the money is going. This information can help the company identify overspending or underspending in certain areas and take steps to reduce company expenses overall.
Analyzing costs and spending can help a company budget for future projects or events. By understanding where the money is currently going, the company can make more informed decisions about allocating its resources.
Cost analysis can be a complex process, but many software programs and tools like MoreThanDigital Insights help businesses track and understand their spending.
Some metrics that should be looked at when analyzing cost and spending are:
- Costs per employee or full-time equivalent (FTE)
- Costs as a percentage of revenue
- Spending per division
- Operating expenses (OPEX)
Business Analytics Platform
Business Dimensions measurable
Some Questions answered
Here are the answers to some of the most frequently asked questions about the MoreThanDigital Insights platform. If your question is not included, we’d love to hear from you!
How can I analyze my cost and spending data?
There are several ways to analyze your strategic investment and resource allocation data. One option is to track these investments in the yearly strategy workshops or through ERP systems.
MoreThanDigital Insights is an excellent choice for tracking and comparing costs and spending. It is easy to enter your data, use a guided flow and provide automatic costs and spending calculations, incl. peer insights. Additionally, your data will be kept safe, anonymous, and confidential.
How can I improve my company based on this data?
Insights gives you a highlighted overview of your company’s costs and spending KPIs and how it stacks up against the competition, peers, or industry.
Additionally, the maturity section will help identify where you need to focus your efforts on all relevant business dimensions, and the peer insights section provides a valuable resource for benchmarking.
Finally, the more you know what’s working (and what isn’t), the better you’ll make informed, data-driven decisions that improve your business.
Can anyone see my data? Is it safe?
Your company’s data and financial insights are safe with us.
Only you can see it, and nobody else can search for it. Insights meets the most stringent requirements for protecting your data in transfer and rest.
However, if you invite others to Insights and view your financial data, they may have access to that information. So please be careful when inviting consultants, employees, and managers. Our comprehensive User-Access Management will help you manage the visibility of your sensitive data; by default, nobody can see your financial data.
Who are my peers for comparisons/benchmarks?
In our free version, your peers for comparisons and benchmarks can vary depending on several factors, including country, industry, and company size and will be automatically set by our system. Your company will then be compared against your primary sector and relevant size classification within your country/state.
However, with our premium, you can choose your peers based on what best represents your company’s positioning. This could include data from multiple countries, a range of company sizes, or companies in complementary industries.
It’s also important to keep in mind that you should always be looking to set your peers right and aim for excellence in essential areas – this is what will help you stand out from the competition.
Is Insights really free? Are there hidden costs?
Yes, Insights is free for everyone. We believe that by making it easier for people to get insights from their data, they can be more successful in their businesses and positively impact the world. That’s why we’re committed to being the most accessible analytics platform.
To save server workload, we only limit peer data and report dept, which is then reserved for the premium version. For your personalized peer data set and more in-depth reports, please support our mission by buying a premium report.
Please read our #bethechange statement – why MoreThanDigital gives everyone access to such tools.