Efficient marketing! Cost-effective client acquisition! “Big data” seems to promise improvements on every level. But while many organizations already amass copious amounts of data, it remains isolated in operational silos and disparate formats. The keys to uncovering opportunities and creative solutions within your company’s data are increasing transparency and making it easy for users to generate custom business expense reports.
First, you’ll need the right tools for the job: enterprise-level analytics and accounting reporting software. These tools integrate diverse data from hundreds of different sources and provide access through user-friendly dashboards. Managers and executives can then use the software to generate business expense reports, view trends, and analyze the organization’s expense spending.
Putting this process in motion soon creates greater transparency into business expenses and across departments. This allows managers and executives to analyze expense spending using any number of factors, including client, amount, expense type, region, vendor and date range.
Ease of use is an important consideration. Management should be able to generate compelling reports and detailed analyses without relying on help from technical staff. A good analytics platform like Chrome River ANALYTICS should make it easy and intuitive to complete such basic tasks as building a simple query, converting reports to charts, and publishing and sharing the final custom report.
Together, transparency and ease of use can translate into effective decision-making, streamlined operations, and greater control over your organization’s expense spending. Opportunities for savings and increasing revenue are probably already waiting in your organization. User-friendly tools for generating business expense reports can help you uncover them.
We’d appreciate your feedback. How often do you use analytics to generate reports on expense spending? Do you find your current tools intuitive and easy to use, or do you usually need assistance from technical staff? Share your comments below!
Comments