Real Life CFO Challenges Topic 7: Real-time Reporting

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CFO-challenge-6-social.jpgMeet JohnCFO of a medium sized company that needed to replace their periodic reporting with real-time accounting.

John's business data grew annually at an average 56% per year which made it virtually impossible to manually sift through important and valuable information. 


In post #7 of the Real Life CFO Challenges series, we'll dive into John's reporting challenges and how his business achieved real-time accounting.


John's Challenges:

  • Too much time spent preparing management accounts and reports
  • No flexibility to slice and dice across all facets of the business
  • Difficulty identifying important data
  • Spreadsheet chaos and data fragmentation due to rapid growth

 

John's Requirements:      

  • Real-time reporting at a glance
  • Customise business reports with ease
  • Gain data insight together with graphical representation of that data
  • Key reports - Available anywhere, anytime, on any device


The Solution: 

John found a Real-time reporting & business intelligence system that is mostly event driven, and uses traditional processes and techniques to enable events to be analysed without being first transformed and stored in a database. These in- memory techniques have the advantage that high rates of events can be monitored with minimum data latencies.

John now has user friendly features at his fingertips with intuitive slice and dice and drag and drop tools is key for productivity. This tool automates the reporting process to streamline his efforts, resulting in greater efficiency in his business. Good business data makes for better business decisions. The value add gets John's data under control, turns it into useful information and boosts reporting productivity across all data silos.

The latest technology enabled John to securely access reports on various devices and access personalised reports anywhere anytime.


The Benefits:

  • Let staff use their existing knowledge to easily write and edit reports, giving John instant visibility across his business.
  • Spend more time focusing on analysing information and less time retrieving and sorting through data.
  • Design customised reports that suit John's business’s unique requirements.
  • Accurate and timely reporting
  • Graphical views of expenses and trends
  • View top performing customers, most paid suppliers, best-selling stock
  • Immediate drill down information at finger tips
  • Develop detailed financial, operational, customer, and vendor reports.
  • Efficiently view, manipulate, analyse, and distribute reports.
  • Aggregate or consolidate data from multiple entities, departments, and databases.
  • View company in countless ways through organisational tree level reporting. 

If you would to learn more how to advantage of real time reporting, we can assist you choose the solution that’s right for your business requirements, talk to us today.


We understand your organisation is unique. Your technology should match your business processes - your unique way of doing things. We help your organisation perform better by designing and developing the solutions that work for you - all delivered on time, within budget and with faster time to benefit. With offices in Sydney, Melbourne, Brisbane, Perth and with over 50 Awards received from Microsoft, SAP, Sage and Accellos, MicroChannel has outstanding credentials as one of the most respected solution providers in Australia.

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