Reporting plays an essential role in the success of a business. It’s an integral part of an organisation’s decision-making process. Thanks to digital technology, real-time reporting is achievable. Gone are the days when companies prepare reports manually. This time-consuming process affects all other business concerns since the delivery could take a while.
With real-time reporting, data access is more convenient, accurate, and up-to-date. Let’s explore further what real-time reporting is all about, how it works, its advantages, and its importance.
What is real-time reporting?
Real-time reporting automatically updates reports to deliver the most current data available. It’s a business intelligence feature of a business solutions platform. It can produce information such as operational data, sales and inventory reports, performance metrics and other management-related figures.
Common features of real-time reporting
Wojo offers real-time reporting with all the convenient features that companies are looking for to organise their reports.
- Ease of use – Real-time reporting elevates the workflow. Users will find all the familiar and important tools they need to create a complete report– charts, tables, bars, and more. Because it is an integrated feature, real-time reporting is designed to seamlessly connect to other features and be accessed by multiple users anywhere.
- Scheduling – Users can monitor and assign report delivery schedules in multiple channels on time.
- Automated – Users can generate any data automatically with reliability and accuracy in its content.
- Export Formats – Users can save reports in different formats such as PDF to cover all reporting requirements.
Advantages of real-time reporting
Maximising the functions of real-time reporting in your workflow process will greatly improve the overall performance of your business. Here are the key benefits of real-time reporting:
Reduced manual work
Making financial reports and other numbers-related data manually can damage the accuracy of the reports. In addition, the data is always changing, which might add more time to complete it. Real-time reporting helps save time and money by automating data collection. It also improves productivity.
Data visualisation
Interactive data visualisation is one way to improve company reports and presentations to clients. Users can create data visualisation to show the changes and movements within the business goals. Businesses can gain a competitive advantage because of accurate reporting and data-based decision-making.
Improved transparency and trust
The transparency and trust are not only built between the management and its employees but also extend to the clients. Sharing real-time reports become a collaborative approach that allows them to view how the team works. Clients put more trust in the process, especially in sharing their critical data.
Better customer service
Real-time reporting is a tool that companies should maximise in order to provide better customer service. With accurate information on hand, businesses can lead their clients in the right direction through data analyses of past and present information. Clients, on the other hand, are provided with a clearer picture of their milestones and implement new effective strategies for their business.
Reduced miscommunications and data errors
Accurate reports show confidence in a company’s performance. Real-time reporting also enables a client’s sense of ownership of their data. Further, users can customise the essential data they need without wasting effort in gathering information that is not related to the project.
Quickly resolves operational issues
With real-time reporting, the management is able to detect operational issues and decide quickly on how to resolve them based on the data gathered. Performance results are also easily recognised because the impact reflects in the report from historical data to present information.
Wojo empowers businesses with an innovative and all-in-one management system to help transform business operations. With our simple yet powerful and user-friendly ecosystem, Wojo will help increase your business’s productivity and profit with solutions that save time and costs.
Schedule a demo today and experience how you can streamline your team’s operations with Wojo.
