The world of business intelligence and data analytics is growing at a phenomenal rate, lots of businesses use are using data to track sales performance and a few other areas. Some businesses ask their accountants or analysts to design, develop and maintain these reports, this can be very time consuming and stressful for the accountant, as it gives them less time to focus on their main job.
Away from using a current member of staff some businesses may have a full time business intelligence developer to develop and look after the system, this can be great as the system will be designed, developed and maintained by the same person. While not looking after the system the developer could help with other areas of IT.
Another option for building a new business intelligence solution would be to hire a business intelligence contractor, the developer will have experience developing different systems through previous work and will be able to produce a system that will meet your business needs, once complete the developer will likely move on to another position and to build them a solution.
The newest option for a solution would be to use Bolt. Bolt can help spec, design and build your new reporting solution as well as maintain and support the business intelligence system at a much lower cost compared to the 2 above options.
FTE Pros: The full time employee will always onsite, invested in the company, can be used elsewhere and knows system.
FTE Cons: Company has to pay for holidays, sick pay and pension. There are also administration costs such as HR etc.
Contract Pros: Expert in system development, flexible, short contract lengths, no benefits to pay for such as holidays and sick leave.
Contact Cons: High daily cost, little interest in company after system completed, developer could be busy when updates are required.
Bolt Pros: System designed, developed and implemented to meet your business needs. No benefits to pay, lower monthly cost compared to other options, monthly support contract if needed.
Bolt Cons: High upfront monthly cost, not always on site.
FTE: £30,000+ Per annum Developer: £350 Per day Bolt: £5000 Upfront costs, £1500 per month (optional support contract)