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Optimizing Reporting Processes for Smarter Insights

 
May 2, 2016

With massive amounts of data pouring in every day, 56% of enterprises are planning to increase their investment in Big Data analytics through 2018. As analytics takes center stage, reporting systems assume critical importance in extending business intelligence to the right decision makers. Simplifying reporting that draws information from disparate applications and systems is a challenge that many organizations continue to face.

How does your reporting system stack up? Does it actively empower your business? Or does it just maintain the status quo at best and create roadblocks at worst? If your answer to the last question is yes, it is time to revamp your enterprise reporting infrastructure. With an agile reporting system in place, you can get more out of your analytics investments, improve productivity, and reduce costs.

So how can you embrace a modern approach to designing, implementing, and managing a dynamic, automated reporting system that delivers more value? What are some ways to reduce errors as well as save time and effort involved in creating user friendly reports? By deploying automation and leveraging the right reporting tools, it is possible to maximize consistency, accuracy, and reusability of data across units. Heres a look at reporting teams that overcame their enterprise reporting challenges to achieve greater efficiencies.

Its all about simplification

The reporting team of a leading organization was looking for ways to simplify the creation of bulk reports from databases stored across different systems. The key issue the team used a range of disparate applications to get the job done. Team members spent a lot of time ensuring that the right computer and applications were available for processing requests. To add to the complexity, they had to manually monitor the reports, which often resulted in delays.

To make this easier, the reporting team provided inputs to design a robust tool that not only helps create reports faster but also drives greater accuracy and cost savings. The tool helps route the reports to the right computer, check the quality of content, track their status, and monitor and troubleshoot report processing across computers.

Standardization is the way to go

Manual processes and lack of standardization can spell trouble. The reporting team at a large company created a vast number of product performance reports for different markets across regions. With the number of reports increasing over time, the team was unable to maintain consistency. Varying formats and structures were used for generating reports.

To correct this situation, the reporting team focused on standardization and automation. They segregated the reports into categories, use of charts and pivot tables, and other customized requirements. Based on the identified patterns, the team designed and developed an automated reporting tool to quickly navigate large volumes of data, and deliver accurate and faster reports. Eventually, they were able to save 40-50% of the time spent on creating reports.

Level up your reporting capabilities to keep up with digital data

Thriving in a competitive business landscape with rapidly evolving customer demands, technology, and regulatory requirements can be challenging. An intelligent reporting system can simplify and make information easier to consume. It can also analyze real-time, complex data in greater granularity, translating it into easy-to-use business views. You can opt for user-friendly web solutions with pre-defined, self-service reports and role-based portals and alerts to streamline access to information. You could also consider investing in cloud, machine learning, and open-source solutions to improve enterprise reporting.

What does all this mean in terms of business benefits? You acquire the ability to make quick fact-based decisions for improved efficiency, compliance, and governance, ultimately leading to greater profitability.

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Deepan Chandramohan is part of Master Data Management and Reporting Services Offering team within the TCS Business Process Services unit. He has over 10 years of experience in BPS with Master Data Management and Reporting Processes. His key areas of expertise are in Delivery, Transition, Solution Design and Process Transformation.