Reports can be automatically sent to specific collaborators on a set schedule

Description

Automated scheduled reporting in financial reporting software reduces repetitive tasks and labor each reporting cycle for the finance and accounting teams. This function eliminates manual efforts, reduces the chances of human error, and ensures that all necessary parties receive current data consistently without the need for reminders or follow-ups.

Example Use Case

Scenario: A mid-market corporation uses financial reporting software to provide department heads with monthly reporting to their inbox. Monthly spending reports are crucial for various teams like finance, purchasing, and operations for further analysis and collaboration.

Solution: Using the financial reporting software's automated scheduled reporting feature, monthly spending reports are automatically generated at the end of each month and sent to the respective teams' inboxes, IM, text, or available via login to the software. This timely delivery enables the teams to assess, collaborate, and decide on action points in a timely manner.

Considerations

Certain types of reports, such as updated KPIs, are exciting to receive in the inbox every month. Make sure whatever the users will receive is of value to them and not just a checkbox from finance. The key here is continual user engagement. Spamming dozes of reports each month will only cause the users to ignore their emails, or create a filter sending them to a dead folder.

Some reports are not appropriate for a set schedule, e.g. anything requiring a close process that does not get completed on a consistent basis. The last thing anyone wants to receive, or justify, are incorrect reports that the system sent out too early due to a rigid schedule.

Remember - automated reports should be valuable and wanted. Make them exciting with KPIs that matter to the user and other information that is critical for their performance.

Questions to Ask a Vendor

• Automation Capabilities: How easily can reports be scheduled and automated within the system? Can end-users adjust the schedules and recipient lists?
• Reliability: How does the system ensure that the scheduled reports are delivered with the appropriate data in the event we have not completed financial close?
• Customization Options: To what extent can the report's layout, frequency, and delivery method be modified?