How to Optimize Your ERP Reporting?

Optimize Your ERP Reporting

Global Data 365
February 21, 2022

According to a recent study, nearly 81% of companies surveyed reported that they had either introduced the use of ERP software or were in the process of implementing it. So, what makes ERP reporting important? By leveraging ERP data analysis, businesses can create strategic plans, forecast future trends, and develop advanced strategies. To truly maximize these benefits, it’s essential to optimize your ERP reporting for more accurate insights and decision-making.

A depth of data indicates that financial reporting generates as much clarification as it creates confusion:

97% of CFO’s have uncertainty regarding the quality of reporting.

40% of CFO’s are concerned that information is reliable and precise.
87% of accountants function overtime to complete the financial closing.
86% of finance teams say that their analytics are not informative.

The only downside is that companies cannot be successful if they don’t have reliable, accurate, and detailed ERP reporting, which can lead to them making risky choices without even acknowledging it. The plus side is that optimizing ERP reporting is not a difficult task in comparison to the usual reporting process.

Listed below are the 5 ways businesses can optimize their ERP Reporting to make it quick and easy:

- Self-Service Reporting

Users often need to submit a request to IT before getting access to a report and wait in a queue until they can access it. Users must depend on technical experts because working with the underlying data is hard. For users who are not IT experts, self-service ERP reporting is intended to be user-friendly. This kind of reporting is less about the careful organization of data and more about being cost-effective and a time saver.

For instance, IKEA, one of the biggest retail company has enabled self-service ERP reporting after the implementation of Jet Reports and witnessed instant results. A report that may have taken hours for a warehouse manager can now be done within seconds. Time is saved by enabling self-sufficient ERP reporting.

- Automated Processes

A large-scale data organization effort is required to report on finance and operations throughout different departments. The workload includes tracking information from different sources, transferring it from one document to another, and putting time and effort to arrange it all in one clear performance portrait. Advanced automated processes speed up this effort by automatically placing data from ERP systems and other networks, then placing it for immediate analysis into pre-built ERP report templates.

Amref Health Africa, a major NGO in Africa, was having difficulty handling data manually before adding Jet Reports to its reporting toolbox. Now the organization spends less time on handling information and reporting.

- Flexibility

Reporting is a regular duty that changes with time. Depending on the same reports adds up to poor performance management, but it takes extra time and feedback from IT experts to produce customized reports. ERP reporting stops being a hassle when it is simple to track various metrics, rewrite reporting data, receive deep insight from reports into transferable data, and access real-time updates on request.

Using an ERP reporting tool, companies can keep track of their data in real-time. Fawaz Holding seized the benefit of customized reports when it introduced Jet Reports to operate side by side with its Microsoft Dynamics 365 Business Central ERP. By building flexibility into the processes, ERP reporting becomes easier.

- Business Continuation

Accurate ERP reporting is vital after the global pandemic. Decision-makers instantly require quality, updated data, but it can also be made inaccessible by the same situation that makes it essential. ERP reporting should function at any time, providing the same robust functionality even though users are operating from elsewhere.

Similarly, Enova Facilities Management started to save time on ERP reporting using Jet Reports. When COVID-19 struck, the business utilized those time saved. The challenge didn’t sway the method of reporting, instead, it provided leaders greater insight into the situation.

- Higher Standards

ERP reporting can be difficult when the processes are not automated. It leads to a lot of time and effort spent on manually documenting reports and generating analysis. Many ERP reporting systems allow the users data security. It is important to set high standards for data reporting, so businesses need to implement robust ERP systems to automate processes and receive greater insight into the workings of all departments.

Air Trade Centre, a Turkish electronics firm felt it needed quicker ERP reporting and relied on Jet Analytics as the solution. After that, reporting then demanded 60% less feedback overall, which reduced the time it took IT on reporting.

In Conclusion

Learn How to Optimize Your ERP Reporting as accurate reporting is a result of quality data, which is precisely the reason the process takes time. Data is an unruly commodity that takes an extra effort to control, protect, and manipulate. As the data volume grows, ERP reporting will fall behind and cause companies to delay acting. That is why it is important to search for strategies that make data as quickly available as possible by automation.

So, if you face any challenges in reporting, our experienced consultants can provide you with solutions to help you optimize your ERP reporting and make your business grow. Schedule a call to discuss your requirements. Contact us now.

Get a Free JET Demo Now!

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Global Data 365 is composed of highly skilled professionals who specialize in streamlining the data and automate the reporting process through the utilization of various business intelligence tools.

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Why Power BI is a Better Choice than Excel for Analytics

Why Power BI is a Better Choice than Excel for Analytics?

Global Data 365
April 21, 2021

Modern businesses depend on data, and we’re producing more of it than ever before. However, accumulating vast volumes of digital data is useless unless companies can leverage it effectively. Business intelligence tools, such as Power BI and Excel, can play a crucial role in this process.

Are you planning to introduce a platform to assist you in extracting valuable, actionable insights from your data? You have arrived at the right place. By harnessing the capabilities of Power BI and Excel, you can transform raw data into meaningful visualizations and reports, empowering your organization to make informed decisions based on real-time analytics.

Explore how Power BI and Excel can work together to unlock the full potential of your data, streamline your reporting processes, and enhance your business strategies. Let’s embark on this journey to data-driven success! We will go over the fundamentals of Microsoft’s flagship BI app, Power BI, in this article, like what it can do, what it costs, and what changes it can provide to your company.

Characteristics of Power BI Desktop

– Can link to several different data sources. With the Auto-Refresh option, you can keep this data up to date.

– It aids in the rapid modelling of data.

– Using the drag and drop map, it is possible to generate interactive reports.

Characteristics of Power BI Service

– It is a web portal that allows users to monitor and view reports generated with Power BI Desktop.

– Reduce the amount of time spent moving and sharing information.

– Data can be imported from a variety of on-premise sources (Excel, DB, CSV, etc.) or directly documented from a variety of cloud web services, including Azure, MailChimp, Zendesk, and Salesforce.

Why should you Choose Power BI over Excel?

Power BI has many benefits to offer compared to Excel. Listed below are some of the benefits.

- Convenience and Data Size

Power BI can handle massive amounts of raw data as well as several data tables. The analytical tool is capable of loading and processing large amounts of data into a single PBIX file. Multiple tables can be configured and, if necessary, combined based on common fields. In terms of user interface and ease of use, the Power Query Editor and Data Modeling parts are easier to use.

- Data Connectivity and Auto Refresh

One of the key reasons to use Power BI is that it can link to a broad range of data sources, including databases, online sites like Facebook, and Salesforce reports, among others. When compared to the previous data, the data is automatically inserted into the Power BI Workbook. Excel’s ODBC Driver takes up a lot of time.

Power BI has a great choice for keeping data in alignment with the source called Auto Refresh. To have all the reports updated, Power BI Desktop has a Refresh option, and Power BI Service has a Refresh Now, as well as a Scheduled Refresh option. When you choose Refresh, the data in the file’s model is replaced with the most recent information from the original data source. This form of a refresh, which takes place entirely inside the Power BI Desktop program, varies from Power BI’s Refresh Now and Scheduled Refresh solutions.

Power BI uses the information in the database to link to the data sources identified for it, search for updated data, and then upload the updated data into the dataset when you refresh data in a dataset, whether using Refresh Now or setting up a refresh schedule. In Power BI, unlike Excel, the dashboard can be refreshed.

- Reporting and Cross-Filtering

Power BI reporting is much more advanced and engaging than Excel reports, and a single graph can provide numerous perspectives. In Excel, cross-filtering is not possible, but it is possible in Power BI. This has an impact on how users want the filtering for data with table relationships to move.

- Alerts and Emails

To submit a mail and a reminder in Excel, a user has to use the VBA Editor to generate a macro. In Power BI, creating a warning and sending an email when a condition (such as a threshold value) is met has never been easier. This will keep users updated when on the move, and they will be able to view the report at any time and from any place.

Some other features include:

Natural Language Query (NLQ): By asking a common person question in Power BI Service, everyone can get a fast response from the current insights. It’s helpful when someone isn’t familiar with the data model but needs fast answers to questions about the insights. Furthermore, this saves a lot of time.

Deeper Insights: The backend program, which is driven by intelligence and algorithms, can generate interactive insights at the touch of a button. It will help you save time and interpret data more quickly.

Dashboards and Customized Reports: The reports produced can be modified to achieve the desired outcomes. On the dashboard, the report tiles can be rearranged and relocated as desired.
Sharing Reports and Access: The reports and dashboards may be shared with the public or only a small group of associates.

Downloading and Exporting Dashboards: The Power BI Service lets you download and transfer dashboards in various formats. The dashboards can be submitted as a .PBIX file or exported as a PowerPoint presentation, PDF, or event print.