Why is reporting that important?

What is reporting?

Reporting According to Wikipedia, business reporting or enterprise reporting refers to both “the public reporting of operating and financial data by a business enterprise,” and “the regular provision of information to decision-makers within an organization to support them in their work.” Reporting is primarily used for business success. Especially in reporting, information is the basis for extensive decisions. Therefore we ask why reporting is that important? To make important decisions more quickly, the speed of delivering relevant reports at ever shorter intervals is increasing. This requires fast and reliable reporting.

The most common sources of error in reporting

reports

  • Wrong information and wrong thematical reference
  • Incorrect interpretation of the analysis and therefore incorrect conclusion for a sound decision
  • Poor data quality
  • Time delay of business relevant information

Considering these causes individually or in combination can lead to far-reaching decisions being made in day-to-day business; and all this due to incorrect information in reporting that can be prevented.

So how do I create a successful reporting?

Successful reporting works best when the most common sources of error are excluded as far as possible or are known at the right time when the reports are created. 

Preparation

The delivery date and the individual availability of the data are essential success factors that are responsible for the report’s quality. Other important factors are:

  • Preparation and presentation of the data
  • Chart type of the visual presentation
  • Consistency between the report target and the prepared figures

Software tools that support reporting

Create reports for your company in a breathKLUSA Enterprise

The creation of regular project reports is largely automated in KLUSA. At a multi-project level, all project reports can be viewed filtered, missing project reports can be identified and, if necessary, locked.

Further functions that support you in KLUSA’s reporting

  • Permanent plan/actual comparison – you always have control over your deadlines, project targets, costs and benefits
  • Deeper analysis options at multi-project level and direct access to the respective project
  • Create weekly, bi-weekly, monthly, quarterly, yearly and ad-hoc reports for your project team and your management
  • Filtering the project volume on time periods, cost types, cost centers or other parameters
  • Read more on this subject under KLUSA Controlling
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