Leveraging your talent to unlock the power of corporate reporting
The blinding pace of cutting-edge technological change gets a lot of time and attention—and rightly so. Take corporate reporting, which has long been seen as an invaluable asset for corporations to inspire trust among consumers and investors. Thanks to transparency and smart tech, corporate reporting is currently undergoing a process of transformation.
And the potential this represents is staggering. With unprecedented levels of access to both financial and non-financial data, companies have the power to produce highly accurate, long-term, sustainable growth plans. This affords them a level of security that was previously unimaginable.
Yet, with all this potential, 49% of reporting teams still admit to spending more time gathering and processing data than analysing it. Why?
The answer can be boiled down to a simple maxim: your technology is only as powerful as the people using it. Investing time and resources in the right employees not only benefits them, but it also allows organisations to fully realise the potential of their technology.
First, it’s important to understand the relevance reporting has in the success of a business in today’s increasingly digitalised environment. The fact is, current financial figures are not enough to ensure your company’s success. To drive trust, businesses need to be able to effectively and accurately show that they’re future proof, producing actionable data that can be turned into solid plans.
New features and tools
Modern technology is unrivalled in its ability to overcome problems created by its increased capabilities. As previously mentioned, the amount of data produced is often overwhelming for reporting teams. This issue can be solved thanks to new resources such as automation, AI and blockchain, which means:
- Greater efficiency when gathering, organising and sorting massive amounts of data
- Automatic identification of patterns
- Accurate reporting and forecasting
- Saving employee time by automating repetitive tasks
However, benefiting from these resources is wholly reliant on people. Reporting technologies—like Smart CRM—require professionals who are specifically capable of supervising their use to ensure data security and accuracy in any report.
What skills should employees have?
With the rise of digital transformation, individuals who possess a high knowledge of CRM skills are increasingly in demand. Between 2012 and 2016, there was a huge growth trend in employees with CRM skills in data and business analysis positions.
As new technologies take over repetitive tasks, such as data gathering and analysis, employees have more time to engage in intellectual and analytical tasks to draw conclusions and apply insights to strategies and plans.
Fully leveraging this data requires employees who have a broad skill set, with a deep understanding of AI and blockchain. Alongside these hard skills, they should also display an innovative, adaptive mindset and a willingness to learn.
If you want to drive trust among consumers and investors, your reports need to be accurate, transparent and future focused. Whether hiring new staff or working with existing employees, cultivating these skill sets should be a priority to make the most of new technologies.
The power of Smart CRMs and an all-star staff
In addition to content, highly trained and versatile employees, a smart CRM solution is the key to mounting and running a successful reporting system that results in actionable insights. Quality CRMs, like SugarCRM, combine all previous technologies to improve the customer experience, while enhancing your company’s results and procedures.
Above all, CRM is an essential source of customer and sales data, which can be used to establish relevant KPIs for your company’s reports. But beyond providing financial information, SugarCRM helps companies measure clients’ interests, preferences and levels of satisfaction, alongside the effectiveness of their strategies.
These benefits also extend to the employees. As mentioned above, by cutting down on mindless, repetitive tasks, employees have more time to engage in more stimulating, intellectual work. This allows you to fully leverage the long-term growth power of cutting-edge technology, while also ensuring the well-being of any company’s most valuable asset—their employees.
At redk, our team of highly experienced tech experts fully embodies this principle. Thanks to our unrivalled expertise in CRM transformation, we’re able to help businesses meet their goals. Our services extend far beyond the initial CRM software implementation stage to empower your employees and help you build a tech-based, recurring-revenue model that drives lasting success.