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Connect with us to discuss how we can assist you with operational and financial reporting across the business.
Business Challenge
Financial and management reporting is time-consuming and inaccurate
The challenge you face
- Trying to get a view of business performance or position is a manual and time-consuming exercise.
- The reported results are often inconsistent and contain errors.
- The business often misses performance targets, and you cannot understand the reasons.
Implications of not addressing the challenge
- Decision-making is often delayed due to reports that are received late. In certain instances, decisions have to be made based on gut-feel due to lack of reports and analytic insights.
- The causes of good or bad performance are not known and managers speculate on what they are.
- There is no formula to repeat good results and the business relies on luck.
- The impact of decisions that are made is not known.
What does success look like
- The business can set realistic performance targets based on rigorous analysis of data.
- Decisions are data driven and rely on analytic insights. There is a culture of fact-based decision making.
- Everyone in the organisation trusts the reports and the data they are based on.
- The production of performance reports is automated and instantaneous.
- Period end reporting is mostly automated.
- The root causes of good or bad performance are easy to determine.
Algonomix solution
- The solution involves the automation of data sourcing, preparation and analysis.
- The reports are mostly visual, dynamic, and enable self-service.
- Reporting and insights generation are embedded into the business process requiring minimal bespoke reporting.
- The reports are cloud-based enabling on the go access and faster decision-making.