Why real-time reporting is essential for business growth

We’re often asked why we think month-end reporting is on its way out. But don’t take our word for it, here’s how…

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Why real-time reporting is essential for business growth

Running a business of any kind is difficult. There are hundreds of considerations for you to make at every turn and you need answers to all of the questions you have.

What will happen if we hire more staff? What happens if our customers take twice as long to pay us? Can we expand within the next 6 months?

The traditional way that we look at our businesses has been labour intensive and would run at a huge time lag. It is also completely inefficient as data is entered into different systems or spreadsheets over and over again.

Picture the scene:

I have a restaurant, it’s the 1st July and we launch a new menu. The next day, suppliers raise their prices, but I am reliant on my accountant preparing month-end management reports, so this doesn’t become apparent until the 2nd/3rd week of August. I lose all of the forecast profits for the summer season.

That’s one industry example, but it applies to all. For management to make informed decisions it is better to have 90% accuracy today, than 100% accuracy weeks later.

Cloud accounting has meant that we can extract data every day, automatically and crunch your numbers. These “actuals” don’t just give you the current performance data for you, your team and your stakeholders, but, crucially, they feed into our FUTRLI forecasting engine, powering your rolling forecasts.

Eliminating the risk of the unknown, and delivering one clean, clear view of today and tomorrow gives you complete efficiency and empowers you with the information you need. This fully integrated and powerful real-time reporting also drives FUTRLI’ predictive alerts. Delivering you complete peace of mind that your business is being monitored while you sleep!

 

“Fantastic product, intuitive and easy to use. Elevates the service offering to clients and offers a real time solution for management information ensuring decisions are based on up to date accurate information.” - Anthony Snoddy

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