Reports in an Organisation – Is it a Bottomless Pit?

It won’t take a week to render your Financial Reports. With Flexi Financial Reporting, it can be done within minutes

Time equals money. This is something that every corporate organization knows, hence the emphasis on completing a task on time. When it comes to one of the integral functions of a business, financial reporting, it is a bit like a bottomless pit. Feed it with information, and yet when you are looking for something more specific, you are required to dedicate more time and efforts for it.

Reports are often generated for analyzing financial numbers as to where an organization stands and its way forward. Keeping aside the forecasting or the planning aspect, there goes a lot of information just for financial reporting. From real time application, a few of these tasks are possible which helps a customer generate a report. But, not with all that the customer wants (dimensions).

CHALLENGES

As one explores the intricacies in this field, there are a few evident challenges:

• Management reports cannot be generalized. One-size-fits-all will not work. Each user will generally need different reports with different dimensions according to a given situation
• There will be elements like revenue, expense, profit, taxes and depreciation which users may want to see very dynamically for different purposes, which is not always easy to create
• In most ERP applications, the user community seeks support of their IT and development team to change existing reports, or create new reports on which significant amount of time has to be spent
• In certain cases , the customer has to revert to the software solution provider who will then work on it and deliver them or depend on a system integrator

SWISH AND A CLICK

Now, there may not be a magic wand which can fix things with a swish and flick, but Ramco’s Dynamic Reporting Framework can definitely support in generating reports with relative ease.

Ramco’s Flexi Financial Reporting can configure different dimensions on the go, to see your results in a report. We empower the users to take charge and make use of the flexibility to modify the reporting structures by adding different dimensions, allowing mathematical expressions by way of formulae, deriving consolidated financial statements etc., wherever pertinent to their specific needs resulting in dynamic generation of desired report.

EMPOWERING USERS

With Ramco’s Dynamic Reporting framework the users can define their own reports, adding different dimensions, be it a time dimension or any other business dimensions and measures, and get instant results. Yes, the power is indeed in the hands of users.

Most ERPs will expect new report formats to be designed manually involving a lot of efforts, which can take up to 5-10 days depending on the complexity. Ramco’s Flexi Financial Reporting can help in generating a number of reports from a single screen in less than a few minutes. The optimization in the underlying reporting architecture has resulted in a drastic reduction of time while generating a report. This tool also offers a smart preview of the final outcome, while defining the report itself without actually waiting for generating the final report, thus allowing the users to visualize and make the relevant changes to dimensions before they actually go ahead to generate their final report.

Ramco’s Flexi Financial Reporting allows one to add several business dimensions while defining or creating a report. These can be used to compare the actuals with the budget across dimensions as well as compare it on the time dimension, along with a facility to drill down to the source transaction. Thus, enabling organizations to save time and stay ahead of the curve.