Presenting benchmarking of business performance and company key figures based on artificial intelligence
Delft, 14 January 2020 - Exact introduces its Winter '20 Release with benchmarking functionality in Exact Online as one of the key innovations. Benchmarking allows entrepreneurs to compare their business performance against that of comparable businesses in their industry. Through benchmarking, accountants create advisory opportunities to better serve customers.
The benchmark functionality has been developed using Artificial Intelligence (AI). In addition to the usual ratios based on specific company data, Exact Online now shows the ratio of companies from the same (sub) sector and size. This provides insight to improve the competitive position.
Phill Robinson, CEO Exact: "With the innovations in the Winter '20 Release, we support entrepreneurs and accountants in making well-informed decisions. Benchmarking business results with similar organizations within the industry provides broader insight than a comparison of key figures from previous years. The data that is used for the benchmarking functionality has been anonymized and comes from the database of Exact Online".
The in-product benchmarking functionality is a logical next step following the Exact SME monitor that was recently introduced. The Exact SME monitor provides an up-to-date picture of the state of Dutch small and medium-sized enterprises (SMEs). New to the SME monitor is the industry overview for manufacturers. Additionally, it’s now possible to view trends over a longer period than 12 months via historical data. This overview includes a trend line that excludes seasonal influences for the economic indicator revenue, cash flow, liquidity position and payment terms.
Winter '20 Release: innovations for digital efficiency and international growth
In addition to the introductions in the field of Data Science, the Exact Winter '20 Release offers innovations aimed to help business with scalable international growth, digital efficiency for trade, production, services and construction, and automated data entry in their administration.
Supporting scalable, international growth
Exact Globe is equipped with the latest legislation and regulations in over 40 countries. In 2020, the software will receive further product updates focused on legislation and regulations and smarter working. The recent changes and innovations for smarter working can be found in this overview.
Digital efficiency for wholesale, manufacturing and service providers
Reliable delivery, faultless operation and clear communication. These are three concepts that lead to higher margins for service providers, construction, trade and production companies. Exact's latest innovations support this.
Digital efficiency in bookkeeping
Exact Online for Accounting, Payroll and Accountancy have been given powerful functionality that further reduces manual data input. Next to the ability to benchmark in Accounting and Accountancy, Payroll comes with a renewed app, new dashboards and is equipped with the latest legislation and regulations. See the full overview.