In today’s information age, knowledge alone is not enough to make a business competitive.
More on Reporting:
– Reporting, Tracking and Dashboard Capabilities
– Why Every Business Needs Data Analytics
Companies of all sizes have access to facts, figures and reports, but unless this data is given context corrective action, it has little or no effect on the bottom line.
Business systems which are fully integrated can provide you with the context you need to make faster, better decisions. Whether it’s production line efficiency, delivery schedules or sales conversions. Having systems that communicate intelligently with each other gives you valuable insights, into how well the different areas of your business work together. Especially if they are all on the same management platform.
Integrating intelligent reporting has many benefits to your business performance. Here, we examine the top five ways these new digital tools can enhance the utility of your business reports, giving you the information you need to increase performance and profitability.
1. Real Time Data
Now more than ever, business leaders must act swiftly to capitalise on opportunities and mitigate risk.
Having access to real-time data from any mobile device gives you the power to act on information as it happens, saving time and administrative resources, and improving customer responsiveness.
The idea of ‘command centers’ or ‘war rooms’ are becoming more and more popular within organisations, where critical performance information is monitored in real-time on big screen devices on the walls of offices.
Real-time data is becoming the best way for every organisation to improve governance and control. This is not new, but previously this capability was very expensive and only accessible to big corporate businesses. Good news is that this capability has become so affordable, that even small businesses can have a ‘screen on the wall’.
Companies of all sizes have access to facts, figures and reports but unless this data is given context and corrective action, it has little or no effect on the bottom line.
2. Strategic Insights for Pro-Active Actions
Integrated operational data provides valuable insights into your business performance, but this can be greatly enhanced by interpreting it within the context of the rest of your organisation’s data.
What we mean by an integrated approach is, you can mix the data from your Safety Management solution, indicating the number of safety incidents linked to certain contractors. If you then mix this data with information from your Contract Management solution, you can gain an understanding of which contractors are most likely to have safety incidents, while delivering future contracts. This will then enable you to be more strategic with your procurement strategy, before giving them the next contract.
3. Transparency
Knowing how different areas of your business interact, influence each other and impact overall performance is vital to achieving optimal business efficiency.
By enriching the flow of information between operating systems, intelligent reporting tools can highlight not only efficiencies and cost drains but also the high performers. This helps you direct resources where they’re needed most and apply successful models to other areas of your business.
4. More Efficient Reporting
Management reports are essential business tools, but traditional reporting methods often fall short. They are:
- Time-consuming to produce
- Present static data rather than live data
- Take staff away from more productive, revenue-focused tasks.
Digitally integrated systems enable your employees to generate up-to-the-minute reports that represent overall performance, not just individual business units, so you can make informed, strategic decisions.
We all know how frustrating it can be to see highly skilled staff sitting for hours formatting charts or reports, so that it can be ready for the next management meeting. These menial tasks are a waste of time, which can be better spent on value added activities.
5. Streamlined Process
Optimal performance depends on clear communication and a common purpose.
By streamlining your operating systems through digital integration, every area of your business can share and benefit from the same information, leading to greater resource efficiency, customer service consistency and employee satisfaction.
Business intelligence is the most valuable resource available to leaders today. To make optimal use of this information, companies must ensure their systems and processes are aligned to a common goal. Digital integration gives your business the tools it needs to operate agilely and responsively, improving your bottom line and giving you an edge over your competitors.
Nimblex Platform is like a robot: “Take me to your manager.”
Imagine having an ‘office robot’ that sees all your data, across all your management applications, and delivers this data to you on a single platform, where you can monitor and track performance indicators in reports. Now, imagine this robot then automatically escalates issues and sends out communications and alerts based on certain conditional business rules on various data points.
Think of the efficiencies and pro-active management capabilities you could gain in your work environment. Think Nimblex. Contact us for more details.
