In this article, we’ll explore the details of preparing for a financial reporting implementation that is a success.
In today’s business world, financial reporting is unavoidable. Whether you’re working with a homegrown Excel reporting process, a legacy software applications, a third party vendor product, or a native accounting tool reporting feature, every company is relying on financial and operational reports. Making an investment in your first dynamic report writer should translate to automation of financial reports, easy collaboration, modern security, and business user friendly analytics. If it all sounds like gibberish to you, this article will explore how to prepare for your first reporting implementation, so you are able to pick the right report writer to best manage and analyze your company data.
Financial reporting tool enables organization to customize reports that showcase a summary of your general ledger (GL) transactional information, whether integrating right from your enterprise resource planning (ERP) system and/or from a BI data store, like a data warehouse (DW) or an online analytical processing (OLAP) cube. Report writers collect your data and present your analyses. Reporting makes data digestible and accessible for accurate, simple and streamlined analysis and related decision-making. LogiAnalytics discusses reporting as “the art of collecting data from various data sources and presenting it to end-users in a way that is understandable and ready to be analyzed. In the second sense, reporting means presenting data and information…as well as [acting] on it.” When making an investment in a reporting solution to upgrade your data management and analysis processes, it is essential to shop around for choices when it comes to business user friendliness, integrations, and platforms.
Let’s start by looking at four tips for preparing to implement a reporting tool for the first time.
To read more, learn some tips, and understand what goes into an implementation,