Your supervisors, financial analysts and others in charge of generating reports may not be performing at their maximum capacity. Tracking quantities, crunching numbers and generating reports require both time and energy. This means that they won’t be able to carry out other tasks detailed in their job description. And if they overexert themselves, chances are that they may end up making mistakes that could put your business in hot water with tax and regulatory compliance authorities. Therefore, rather than stressing out your employees, help them consolidate, calculate and validate figures you add to your reports with enterprise reporting tools.

If your enterprise IT infrastructure lacks this vital reporting software, here are four reasons that’ll make you change your current position.

#1) Keeping Up with the Ever-Changing Industry

Enterprise-Reporting-SoftwareThe hotel, retail and foodservice industries are constantly evolving. However, these changes are taking place at a marvelous speed, demanding business owners to depend on near real-time insight. Unfortu
nately, your traditional reporting strategy is bound to take at least a few days before you gather data, massage it, and provide input. By then, you won’t be able to take swift decisions that allow you to jump on opportunities or correct your current course of action. On the other hand, enterprise reporting offers both the speed and power necessary to keep your business agile and responsive.

#2) Ensuring Data Accuracy and Transparency

Generating reports through enterprise solutions will reduce the chances of human error. However, enterprise tools go the extra mile to ensure transparency, mitigating both operational and reputational risk that comes with filing public documents. Moreover, automated reporting ensures the security of your data, a feat your traditional spreadsheets won’t offer. Finally, you get to ensure an audit trail which in turn helps your analysts and compliance authorities go over your data with ease.

#3) Simplifying View of the Company

Your company is already complex, especially since you run a whole chain of restaurants/hotels/stores. Now different subsidiaries deal with their own list of suppliers, abide by their own set of rules, and have their own lingo. As the owner, you need a consolidated view of the company to make necessary strategic decisions. In that case, you need a single data source for reporting both financial and operational data. Enterprise reporting helps you achieve this quickly and without costly mistakes.

#4) Creating a Data Driven Organization

Data driven companies are the most successful these days. To join their ranks, you need to democratize information, i.e. you should be able to share data with the people who require it. If your staff needs to track down the right version of spreadsheets before emailing them to you, enterprise reporting is necessary to revolutionize your current system. After all, it provides you with the data you need when you need it.

With so much relying on your business’ reporting capabilities, you shouldn’t settle for mediocre software. If you truly want the best, start by checking out Xformity. The main business intelligence and reporting solution at the likes of Taco Bell and GiGi’s Cupcakes, this software has been able to help many clients achieve their goals. In fact, Taco Bell franchisee Michael Shasavari successfully decreased his restaurant’s labor and food costs by 1% to 1.5%.

Our comprehensive system can easily be integrated with your business applications. To further ensure ease of use, Xformity comes with a simple interface that allows you to customize reports with a click or two. As your enterprise reporting tool, it’ll provide you with a range of basic reports as well as ad hoc reporting features and data visualizer functionality. Thanks to the special mobile app that comes with this software, you can access data and reports from anywhere and at any time.

Request a demo right away and see for yourself why Xformity is the best solution for all your reporting needs.