Giddh, May 25, 2020

Business Reporting Tools Turning Data into Information & Information into Insight.

Analysis has never been easier, more productive and immensely profitable with the Giddh Dashboard and its business reporting tools!

Business Reporting Tools Turning Data into Information & Information into Insight.

Every growing business reaches a point where the “old way” of financial reporting and its analysis just stops delivering the way it used to. This usually happens when your business — and the data it generates — becomes more & more complex and harder to comprehend. It’s when the decision makers of your business require more from each metric and each insight. It’s when the existing reporting limit you into submission, and there’s no choice but to upgrade to a more powerful solution.

Scaling Your Reporting Demands for Growth

Aside from needing greater visibility into business financials and operational data, decision-makers need to know more about what’s actually driving business growth — and what it’s going to take to keep moving forward.

Financial professionals and decision makers of a growing business are constantly tasked to make use of information that’s:

  • On-demand — So that issues can be quickly identified and problems solved anytime, anywhere.
  • In real-time — For the most up-to-date data.
  • Relevant to every vertical — Because numbers can be interpreted in different way by different people such as- management, admin, investors or partners.
  • Available in the most comprehensible formats — Since different people ask for different insights in different ways, it needs to be both simple and actionable.

These are challenges that simply can’t be met by the manual, spreadsheet-based method of reporting, especially if you or your term depend on financial reports to take a new step or implement a newer strategy.

This is where business intelligence tools come in. But before going on the tools, let’s first understand what business reporting is in the first place.

What is Business Reporting?

Also known as enterprise reporting, business reporting is basically “the public reporting of operating and financial data by a business enterprise,” and “the regular provision of information to decision-makers within an organization to support them in their work.” It’s an initiative by companies and organizations to move towards the sphere of business intelligence and knowledge management.

What are Business Reporting Tools?

Business reporting software or business reporting tools are application software that can help collect volumes of unstructured data from internal and external systems such as books, journals, email, video and images. They help in identifying information with the help of queries. They can also help prepare data for analysis to create reports, dashboards, and data visualisations. This can empower both employees and managers to help take accurate decisions, accelerate efficiency of operations, analyse market trends, and identify KPIs and fresh revenue opportunities.

Features of Business Intelligence Tools

Business tools have a number of functionalities. They are:

  • Analysis – The reporting tools help analyse raw data, factoring in seasonality, trends, and scenarios
  • Reports – The business reporting tools help create reports for better analysis of the data
  • Monitoring – Real-time monitoring of the operational data can help businesses take informed decisions
  • Dashboards – The business reporting software offers dashboard where businesses can monitor, measure, and manage performances all in one place
  • Analytics and visualization – One of the most important functionalities of business intelligence software are the ability to get advanced analytics and visualisation options to analyse them.
  • Collaboration – You can also choose to collaborate on the different aspects of the reports or data with internal departments or external partners.
  • Adaptability – Finally, with the rise in the use of mobile devices, the reports and data can be easily accessed on any mobile device.

Taking your reporting capabilities to the next level requires taking your software to the next level — and to the cloud — with Giddh. With Giddh, your team can take advantage of built-in accounting and financial reports. You’ll have the tools to:

Expand and Improve Visibility on Activities

As any growing business needs, with Giddh you will be able to view activitis that concern your business such as audit logs that populates a list of all activities of deletion or creation in your accounts, and a daybook which lists out every financial activity done. That means more data, more reports, more information, and more insight.

With Giddh’s trial balance, profit/loss statements and balance sheet, your team will have access to big-picture as well as granular insights in just a few clicks.

Analyse your Business from Any Angle

With the Giddh dashbaord you’ll improve decision-making and get faster answers to your questions by analysing performance based on your company’s financial day-to-day activities.

Giddh’s Dashboards includes ten built-in tools for capturing and reporting on business context: total receivables-payables, net worth, expense, revenue, financial year. And ratio analysis tools with current ratio, debt equity ratio, proprietary ratio & fixed ratio.

With this data-driven reporting: your team will be able to analyse, evaluate and summarise your financial data so it’s most relevant for the problem being solved.

This functionality helps you meet the needs and decision-makers across your company, whether they’re in finance, sales, marketing, operations. And since you’re not manually importing data to form these charts and graphs, your information is always up-to-date in real-time. That means you can create a roadmap for your business in both long and short term — and in a variety of ways.

Share the Insights with Ease

You can run reports and share them on-demand. Even your team or whoever you have shared your company with, will be able to choose from flexible delivery option like email, so insights can be pushed-out when it’s most convenient. And reports can be outputted in PDF, CSV, or Excel format — whatever works best for the person who needs them.

Giddh’s reporting statements and its dashboard opens a new and exciting world of reporting to your business. And it’s designed to scale — so it can grow with you as your company expands and your reporting needs change.

You can read more on how you can do more with the Giddh dashboard here.