When it comes to assessing your business’s performance and planning for the future, you need to rely on information that is relevant, timely and accurate

The reports produced by your business software are your scoreboard. They show just how well you’re doing and they help everybody plan, strive and speak a common language, so you’d better make sure you’re looking at the right one!

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What problems are being reported by your business?

Any business software worth its salt will provide you with a suite of reports that cover the basic requirements of balance sheet, revenue statement etc. If you’re lucky you’ll even get a few sales or inventory reports which give you some idea of what’s been going on since you last printed them out.

The two biggest reporting issues you’re probably facing are:

1. You can’t get the information you need when you need it

Even the best printed reports can only tell you what’s already happened. Some say that’s like trying to drive a car by looking in the rear-view mirror because everything you’re looking at is behind you. The least you should be demanding from your business software is that it shows you what’s happening in your business right now!

2. The numbers don’t tally up!

Or, more to the point, one report says one thing while another says something else. This isn’t as uncommon as you might think, especially in the case of reports that combine information from different areas of your business.

It’s great to get a birds-eye view of things but when the numbers don’t agree, how do you decide which report to trust? In fact, can you trust any of them?

How to fix it

Firstly, you need a solution which uses the same raw information for every calculation, otherwise you’re just compounding errors in already incorrect data. Secondly, the reports need to be produced quickly and in a format that can be further interrogated in a spreadsheet package or something similar.

And thirdly, you should talk to us at Sybiz Software. Contact us and let one of our experts show you how to better keep score in your business!