Benefits of Report Automation
Applications are only as good as the data you can get out of them. Companies need internal reports and reports to give to clients. Automating these reports is beneficial for several reasons.
Report automation has been in existence for several decades. IBM was among the first firms to develop the automation concept. IBM’s operating system known as OS/360 was among the first initiative towards report automation to be tested. However due to complexities of reports and tasks, the system was unable to handle much. There was need for more advanced systems to accommodate the new demand. This pushed technology developers to come up with an advanced system to cater for emerging needs. That is how report automation applications came into operation.
Every company uses an ERP / application / database and has the need to get data out of that system in some form or fashion. There are canned reports that come with every ERP, but there is always the need for custom reports. By automating these custom reports, there is no longer the need for manual creation.
Many companies or firms are shifting from the manual way of generating reports to automation. The need for an efficient, cost and time effective tool is the force behind automating business reports. Are you still undecided on switching to report automation? I am sure this article will help you to move forward
Save time and improve efficiency
Time is spent exporting data out of applications and manipulating the data in an effort to get a final report. For example, data may be exported to Excel from several different reports and then manually aggregated. This can be automated so that each time the final report is needed, a user can just click a button. This greatly saves time by eliminating manual steps that have to be performed on a periodic basis.
Saving time is saving money
Time is money. If employees are wasting time by manually producing reports, think of what they could spend their time doing. They could be more productive on other tasks.
Get data that you haven’t been able to get before
Even after exporting and manipulating data, you still might not be able to get the data you need. By implementing an automated solution, data can be extracted in a way that allows end users to get the exact metrics needed.
Accessibility for your company and clients
By automating reports, you can allow all members of your company to securely access reports via a web page in the cloud. Clients can be given access to reports as well. Also, if you want to schedule the email generation of reports to be sent out on a periodic basis, that is possible as well.
Even the best people make mistakes. If reports are manually created, there will be mistakes. If the reporting process is automated, no user errors can occur. This reduces risk and makes reports more accurate.
The person using the system is always in control of the results. They can regulate who can access the reports. The system keeps record of every transaction and those involved hence minimizing fraud and errors. This means you can track down by who and when an entry was input in the system. It is all under your control!
Gives you an upper hand over your competitors
With many businesses lagging behind in embracing report automation, you will be leading the pack when it comes to efficiency, cutting cost, saving time and customer engagement. With a click of a button, your managers, your customer or client will be able to access reports or information quickly and easily. You can compete confidently without worrying about cost and many risks associated with manual reports.
Utilizing the potential of your staff
Since report automation is quicker, effective and almost error free, staff can do other assignments or tasks. This gives staff ample time to come up with ideas to benefit the company in other ways.
Report automation is accessible remotely.
It does not matter which corner of the world you are located, upon receiving access permissions from the administrator, you can run reports. There is not a time or location barrier to access reports online anytime.
Hindrances of report automation
Despite the fact that report automation is good for your company and the end user, there are several challenges. Navigating through these challenges is vital to guarantee smooth implementation of report automation. People will always try to resist change no matter how good it is. They will always give excuses. A survey conducted recently, showed that many IT operators had not automated their reports giving excuses without facts.
Below are some of the excuses they gave:
- No budget for the new technology
- Not enough qualified staff to implement the automation process
- Not having the required technical know-how of the automation options
- Not enough time to implement the innovations
- The fear of the unknown
- Not trusting the new systems, saying that they will implement their own applications
Out of those IT companies surveyed 57% were yet to implement or embrace report automation. This means only 43% of those firms had implemented the automation concept.
How ReportingGuru can help with report automation
ReportingGuru can help setup report automation by building custom reports for your company as needed. If a reporting solution is what you are looking for, we can analyze your data and implement the best cost-effective reporting system.
Why choose ReportingGuru?
We at ReportingGuru will analyze and automate your reports. We can engage as needed to make your business a success story on report automation. Whether you have an existing database(s) / ERP or all your data is in Excel, we can help.