Reports can be shared via an understandable sharing mechanism

Description

Financial reporting software needs to allow for the generation and dissemination of reports in a simple yet secure manner. A well-designed sharing feature can enable the organization to exchange and collaborate on the reports, improving decision-making, team coordination, and productivity.

Example Use Case

Scenario: An eCommerce business uses financial reporting software to produce a P&L, Balance Sheet, and Statement of Cash Flow. Different stakeholders throughout the organization require access, each with different needs.

Solution: By incorporating an understandable sharing mechanism into the software, users with the appropriate rights can share product and channel P&Ls with the appropriate stakeholders, making sure to only provide the view that matters to them. The software also allows them to provide the report in their desired format.

Considerations

When viewing a demonstration on reporting sharing, make sure to consider both the ease of sharing but also the security capabilities within the reports. Viewers only need to see what matters to them - simply sharing a collection of reports ensures that the user will get lost.

Also consider the format of the reports. For example, some report recipients might not have a username and password to the reporting tool. In that case, they may simply need an attachment in email. Other recipients might be better suited for a live dashboard view (non-Finance executives in particular) and as such should be shared a dashboard as their first report.

This also brings into consideration software licensing. Some vendors offer completely free “view only” or “report only” licenses. Others charge for every single named user. Make sure the vendors license model suits your use case and protects you against future nuisance charges as your usage grows.

Questions to Ask a Vendor

• Ease-of-use: How intuitive and straightforward is it to share reports using your software?
• Report Formats: Can we provide different report formats to certain individuals or groups, such as live web reports for some and Excel outputs for others?
• Real-Time Updates: Is the shared data updated in real time across all users who have access to the report?
• Snap Shots: Can we share a snapshot (point in time) report with users?