As a business grows, the technology that serves as a rigid backbone of the organization needs to be able to adapt and grow with it. Processes that rely on manually entering data should be one of the first targets in a digital transformation – the time saved from automating manual processes is justification enough to make updating these processes a priority.
The benefits of upgrading outdated manual processes can help optimize overall efficiency gains across an entire organization, allowing both IT and financial teams to devote more time to more strategic efforts – like enhancing the customer experience to retain business, for example. Any manually entered financial data also has the risk of falling victim to human error, which in turn could lead to errors when addressing year-end close.
While still reliant on manual processes, teams can take up to a month to get through the financial reporting that’s necessary at year-end. For businesses that are constantly ‘on’, like a hotel or a retail environment, the ability to accomplish financial reporting in a speedy manner shouldn’t be underestimated.
It’s the failings of manually entered processes that serve as the fuel for insightsoftware’s Spreadsheet Server. Most financial teams will still rely on Excel for inputting financial data, something that Spreadsheet Server takes advantage of by integrating fully with the software. The software provides automated formatting of the data while being connected to up to 140 different ERP systems, including Oracle, Sage and NetSuite.
The data gathered from whichever ERP system a business is connected to is implemented fully into Spreadsheet Server. insightsoftware’s solution drills down into crucial data, like journals, payables and receivables and helps collate the information into important and relevant reports.
Accurate financial data is what drives leadership to make the right decisions, backed up by the information gathered from Spreadsheet Server-enhanced custom reports. More users can create reports without the need for an IT team, and the UI has been crafted to allow anyone to design, maintain and run queries.
Integrating live ERP data directly from an Excel spreadsheet and empowering a team to create their own custom reports, which in turn leads to better decisions from leadership, are signs of a robust solution. There’s no need to rely on an overworked IT team or expensive consultants anymore when a self-service reporting tool can be the solution for manual-reporting woes.
