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5 Top Tech Trends to Transform Your Reporting

Written by: A Friend of bluQube

Posted: 18 December 2015

 

 

With your business producing more data than ever before, the way you handle that information can make or break your business. Are you drowning in a sea of figures, never really trusting it’s accuracy? Thanks to developments in technology, you can take charge and make the decisions you need when you need to. Here are five key ways technology could help your business move forward. 

 

 

1. Real-time information

Across your business is a wealth of information, a lot of which is on third party systems like CRM and HR software. It can take quite some time compiling all that data to report into finance – so much so that by the time everything is ready, the data is out of date. 

 

All of those different systems cause another problem too. There’s no way you can properly access all the data and interrogate it. If you’re finance team can’t get a transparent view of the figures, what hope you and the management team got? But there is an answer. More and more companies are turning to modern interoperable finance systems that can integrate the finance system with all the legacy software via web service technology. 

 

You can pick and choose systems from different providers to suit your organisation. With an interoperable system like this, re-keying data by hand instantly becomes a thing of the past. That means you save time and money – and you save on any human error too. You’ll have a more transparent operation, plus you’ll have all the information you need at your fingertips to make informed decisions. 

 

 

2. Self help access

Finance software used to look intimidating to the layman. Now changes in design mean more and more non-finance staff can use the finance system too. Bright, bold colours and user-friendly screens help people find their way around, so you can start accessing your own reports without having to rely on the finance department to do it. 

 

Software has changed in other ways too. Now you can be extremely precise about who gets access to what. So when you grant departmental access to the finance system, colleagues are able to see the figures they actually need, the reports and dashboards that are exactly relevant to them – and none of the bits that aren’t. 

 

You will have the data you need to make smarter decisions, while your finance staff will be liberated to do other things. Members of the board can see top level information, and committee heads can keep tabs on their own spend and manage their budget. So you’re transparent across the boardroom, and across the entire business.

 

 

3. At a glance reporting

With endless columns of figures and complex tables, financial reports can be difficult to read for all but the expert. But nowadays finance software is making reports more visual and intuitive, so you can pick out the details you need with just a glance. 

Colours, graphs and charts make it easier for everyone to understand financial reporting. The software also lets you bring all the reports together in one place, with clear personalised dashboards for people to work their way around. Just drag, drop and click to look at the detail and investigate the figures. 

It’s so much easier to use. So departmental heads across your business can see the figures that are relevant to them, then take a deeper look if needed. 




4. Anytime, anywhere access

There was a time when where you were working had a real bearing on what financial information you could see. Now anything is possible. Thanks to cloud-hosted systems, you can access reports from any place or time. Just log in to your system via a web browser and you can see all your reports in one place. 

 

Software is designed to be mobile friendly, so you can log in via your Smartphone and take a look at the data. That’s truly liberating for you and your colleagues. See reports on your phone or tablet when you’re at a meeting. Work from home. Use mobile apps to make decisions on the go, and see the figures without having to come on-site. With anytime anywhere access, everyone can make decisions wherever and whenever they need to. 

 

 

5. So safe, and so responsible

In a modern world of data leaks and security breaches, you can never be too careful. Keeping everything confidential is absolutely crucial, so you want to make sure you’ve got the very best security systems in place. 

 

That’s why so many are moving to cloud-hosted finance systems. With this type of system, data is held in industry-leading data centres, with multiple power supplies and internet connections. Everything is constantly backed up, and the systems undergo the very latest in security testing. So the chances of anything going wrong are extremely remote. 

 

If something does ever happen, you can be sure that all the data will have been backed up – and you’ll have the option to restore your system to any point in the last 28 days. That’s invaluable peace of mind for you. Plus the best thing about cloud security... it doesn’t cost an arm and a leg. To take on that level of tech yourself would break the bank, but with cloud the supplier foots the bill and is able to spread the load across their customer base.

 

 

In a nutshell

In a world where transparency is crucial, it’s no wonder more and more businesses are moving to finance systems with this sort of modern technology. 

 

It’s worth you thinking about it too. As a  key stakeholders you’ll have access to the data you need, in a format you can easily understand, so you can make informed decisions – and you’ll be freeing up your finance staff. Crucially you’ll all also be able to access the data wherever and whenever you need. That means working more efficiently and speeding up processes throught the organisation.



So if you like what you hear, why not hear some more? Keep up to speed with all the advancements in business technology: www.bluqube.co.uk/modern-supplier

 

…or email us at: hello@bluqube.co.uk

 

 

 

http://www.bluqube.co.uk/blog/Modern-Supplier/5-Top-Tech-Trends-to-Transform-Your-Reporting.aspx

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