By Lisa Maxwell on January 29, 2019
Can anyone explain why creating and running reports make us nuts? I believe it has to do with the tools we have in our toolbox or business management system (ERP). It is like anything else, if you don’t have the right tools you have a problem.
Recently, I had to put together a treadmill. It’s that time of the year for resolutions. Well, I didn’t have the right Allen key to secure one part and it was frustrating. I had to go to the tools I had one hand and search and search and nothing seemed to fit right. Oh the torture, I just am thinking I want to kick off my fit fix for this year without a hassle. Finally, after trying to locate and rig up a tool to secure this part, I decided it was time to head down to my local hardware store and just buy the correct Allen key. Low and behold they had it and for the less than $10 I was on my way. I got home and within minutes secured the part and was too exhausted from the day’s events to use the treadmill. I started fresh the next day! I keep thinking about the time, stress and agony I went through trying to make something work when it just couldn’t without the right tools. Well, that is the reporting in a nutshell.
Here are 3 reporting solutions that can help your organization’s bottom line and increase productivity:
1) Fixed Assets Reporting - Wouldn’t life be that much easier if you could track and manage your fixed assets through their entire lifecycle? With a Fixed Assets solution you can eliminate all that manual calculations, reduce the chance of errors and let’s face it, save time. Don’t believe me. Here is a fixed assets calculator to see what your return on investment (ROI) would be if such a product was implemented in your company. Hey, the numbers don’t lie.
2) Tax Reporting- The days of not collecting sales tax are long gone. With various government rulings, changing rates, and industry rules, it is an extraordinarily stressful time for many businesses. Compliance slip-ups are costly. With an automated tax reporting solution, you can meet your needs today and have the solution grow with you tomorrow. The best part is when states pass new legislation or your business enters a new market a proper tax solution will take care of business for you. This ROI is well worth the price and will eliminate you from tax non-compliance and fines. Plus the automation factor will alleviate manpower in cross-checking thousands of rates, rules, and jurisdictional boundaries.
3) Intelligence Reporting- Think of how efficient your business would be if you could make fast and informed business decision with a click of the keyboard. In today’s business environment, we have no time to wait for information. We need it now, instantly and of course in the cloud. With intelligence reporting, you’ll know what information has an impact on your business and how it affects your business within the accounting, financial and enterprise areas of your organization. This reporting tool should provide ready to use reports, as well as the ability to have you customize reports for your specific needs. Also, consider a solution that has a dashboard in order to get regular insights into your business’s key performance indicators.
This is just a tip of the iceberg in the world of reporting, but these three should be able to get you started. Also, these reporting solutions provide a very good return on investment and within a year you should see a significant benefit to your organization. Get the tools to propel you forward as I know firsthand without the correct tools you can be just wasting time and getting nowhere.