So, you believe you have no time to improve or change your reporting or budgeting processes and tools?
That's unfortunate as other companies and your competitors are finding better ways to complete their reporting, in which saves them both time and money. Below is a short list of reasons you should reconsider your current reporting tools.
1. You have people battling with Excel
It’s not just you, but your staff and people in other departments who are using Excel to drive the business. If you add up the time every person spends on laborious work in Excel, you would be shocked! They have to collect data from various places, manipulate it, calculate it, and then report it. Your Excel workbooks might be excellent, but theirs are not.
2. You are not agile
Can you add a new account, change the company structure and in moments see the result on all reports? Oh, and that’s in your sand pit, that it doesn't affect the rest of the company. You competitors are doing this with BI technology. They have moved out of Excel so Finance departments, Analysts, and companies can be significantly more agile.
3. You have no analytics in place
Producing a new view of the data world should be easy, but unless you have the right tools and data collected efficiently, this isn’t just going to happen. Executives today expect slice and dice capability. Without it, they are back on point 1…
4. You can’t create reports by yourself
So, you have an IT person build your reports for you. That person isn’t in tune with the data, and still forgets to reverse credits, so revenue always looks wrong on the first draft. Two weeks later you have forgotten why you wanted the report, and you've used Excel while you waited. It felt like 8 hours of work in Excel, but it was 16.
5. All your reports are different
The data is different; the layout is different. Some you email, some you get via a portal or 3. So mashing key data in place is a nightmare! If board reporting takes more than 4 hours, it’s time for change people!
6. Your planning (budgeting and forecasting too) is very basic and rough
If your reporting system can’t handle planning like your more agile competitors, you and the rest of the company is back in rigid and mistake-riddled Excel.
I love reducing reporting to 0 minutes. That’s what I do best, and that saves money and makes you and your company more competitive. It's Business Intelligence. It's Business Performance Management. It's saving money and making money at the same time. Who doesn’t want that? And where do you find the time? Stop manual tasks today and instead, work on the new reporting/planning tool, because implementing that is faster than the time spent on reporting today. It's excellent BI (Business Intelligence)! I know this because it’s what I do.
Watch our video - about saving time with smarter and easier reporting.