In competitive market conditions where businesses strive daily to streamline operations and keep costs down, organizations often invest in software to improve their processes to drive further efficiency. Yet transforming their data into clear and actionable insights is no mean feat.
Traditional reporting tools may be cumbersome or require significant technical expertise to use effectively. The disconnect between data and decision-making creates a barrier to success. Limited visualization options and static reports with basic visualizations or slow report development can also hinder the ability to respond quickly to changing market conditions and incur extra costs.
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In addition, using the full potential of complex reporting tools often requires specialized technical knowledge, limiting the options for non-technical users – a significant obstacle that could prevent teams from extracting the full value from data and impede data-driven decision-making.
Working towards democratized analytics
A recent study by Dresher + Jain found that companies with a culture of “democratized analytics” see a 20 percent increase in operational efficiency and a 15 percent boost in revenue growth – emphasizing the positive impact of using data for insights.
Hearing from financial reporting solution provider, insightsoftware, cost-reduction through its Wands and Angles solutions can also contribute to improving processes.
For instance, Wands for Oracle can enable teams to work together on financial reporting and analysis in real-time, within a secure environment they trust to prevent data silos and fragmented workflows.
Similarly, the solution can help cut through a multitude of data to streamline financials, adding real-time insights to help close the books faster and with fewer errors. This can open the doors to less time spent wrestling with reports and journal entries, and more time dedicated to strategic analysis.
Angles Enterprise for Oracle, in turn, can help support multiple Oracle ERPs with a best-of-breed portal to obtain, manage and use data from all instances of Oracle ERPs, whether they are on-premises or in the cloud.
In addition, Angles protects reports from database structural changes coming with enterprise application upgrades, ensuring established reports continue to work through upgrades without disrupting current functions. The solution can also bring ease of IT management
and allow for custom relationships and content to be created and deployed from a central location.
By zooming in on data and reporting, businesses can be seen improving their agility in tough economic conditions and getting a boost while on the journey to well-informed decision-making.
