Interviewed by Jayne Gest
All too often, business owners and executives find their companies bogged down by the essential, noncore operational needs - things like communication, developing dashboards, creating reports, document management, project management, and regulatory and compliance management.
However, by implementing an enterprise operating system (EOS) to govern and streamline the data, a business can operate more effectively and efficiently.
"The platform provides you with many of the same tools you probably use today, but they can integrate and communicate seamlessly with one another. Your teams can collaborate better and provide you with fast and actionable insights, so you can manage your business better," says Sudhir Achar, CEO at EOX Vantage.
Smart Business spoke with Achar about how the data integration technology of EOS can be used to create custom solutions for your organization.
How does EOS work differently from other technology products?
One key challenge many businesses have is lack of visibility and control due to disparate data sources. Like the operating system on your smartphone, which works seamlessly with different technologies, an EOS is industry-agnostic, easily configurable without customization, and provides reasonable return on investment.
An EOS also can manage different departments that are physically or geographically separated.
What's an example where an EOS helped improve a company's business decisions?
A rental car business was managing data from various sources, pulling information from a manufacturer and a separate insurance company in order to distribute it to dealerships. Because that data resided on different platforms and it could be 30 days before new information was added, the data were often obsolete at the time the decisions were made.
With EOS technology, the operational segments were brought together, so both the dealership and manufacturer could easily see the average life cycle of a vehicle, the insurance issues and whether specific regions or dealerships were having problems. It let managers use data to determine whether to reward or discipline certain people, departments, groups or projects without bias.
In other words, the EOS helps with predictive analytics. It enables business leaders to more easily see patterns or trends, so they know where to put their focus.
This challenge of uniting databases so the CEO or COO can understand what's going on within departments happens across many industries, from manufacturing to insurance to health care providers.
How does an EOS help companies stop their spreadsheet woes?
Spreadsheet data are uncontrolled, duplicated and prone to errors, which leads to individuals who are very knowledgeable about the company but do not share that information with the team. Because of this, business leaders do not have actionable insights from data.
With its secure data environment, EOS unifies and controls data to provide a single source of truth. It also helps cut down on time, preventing data loss in communication, which in turn helps lower the margin for errors.
Can EOS assist business owners with regulatory compliance?
Regulatory compliance is a scary phrase for the C-Suite. EOS helps ease the nightmare and manage the regulatory checks for the company with the use of the dynamic organizational chart and actionable operational intelligence. Compliance happens at policy level. With the help of EOS, the business can have compliance at an execution level, which helps track execution against industry standards like ISO, CFR11, FDA, HIPAA or SSAE17.