Enterprises Say Manual Reporting is Slowing Growth
In today’s fast-paced digital landscape, speed and agility are crucial for businesses to stay ahead of the competition. However, many enterprises are finding that their reporting workflows are not keeping pace with their growth. A growing number of digital teams are reporting that compiling weekly reports manually is delaying their time-to-decision, and experts are warning that this outdated approach is stalling growth.
Manual reporting is a labor-intensive process that requires a significant amount of time and resources. It involves collecting data from various platforms and systems, consolidating it into a single report, and then distributing it to stakeholders. While this process may have been sufficient in the past, it is no longer an efficient or scalable solution for modern businesses.
With the proliferation of digital platforms and KPIs, the amount of data that needs to be tracked and reported on has increased exponentially. This has put a significant strain on reporting teams, who are struggling to keep up with the volume and complexity of the data. As a result, many businesses are finding that their reporting workflows are becoming increasingly time-consuming and labor-intensive.
According to a recent report by IntellSys.ai, a leading provider of data automation solutions, manual reporting is a major bottleneck for many businesses. The report found that 75% of digital teams report that manual reporting is delaying their time-to-decision, with 60% of respondents citing that it takes them more than an hour to compile a single report.
The impact of manual reporting on business growth is significant. Delays in reporting can lead to missed opportunities, decreased productivity, and reduced competitiveness. In today’s fast-paced digital landscape, businesses that are unable to make data-driven decisions quickly are at a disadvantage.
So, what can businesses do to overcome the challenges of manual reporting and unlock efficient scaling? The answer lies in data automation.
Data automation is the process of using software to collect, consolidate, and analyze data from various sources. This approach eliminates the need for manual data collection and reporting, freeing up reporting teams to focus on higher-value tasks such as analysis and decision-making.
Data automation solutions can be integrated with existing platforms and systems, making it easy to collect and consolidate data from multiple sources. Once the data is collected, automation software can consolidate it into a single report, eliminating the need for manual reporting.
The benefits of data automation are numerous. For businesses, it can lead to faster time-to-decision, increased productivity, and improved competitiveness. Reporting teams can focus on higher-value tasks, such as analysis and decision-making, rather than spending hours compiling reports. And, with automated reporting, businesses can ensure that their data is accurate, up-to-date, and easily accessible.
In conclusion, manual reporting is a major bottleneck for many businesses, stalling growth and delaying time-to-decision. However, with the advent of data automation, businesses can overcome these challenges and unlock efficient scaling. By automating their reporting workflows, businesses can free up resources, improve productivity, and make data-driven decisions faster.
Source: https://www.intellsys.ai/
Note: The article is based on the report by IntellSys.ai and provides an overview of the challenges of manual reporting and the benefits of data automation.
