Challenges posed by the flood of data
As digitalization progresses, every company is generating more data at a rapid pace. Investors, regulators and internal decision-makers expect the flood of information to increase - and there is little to suggest that this will change in the future. At the same time, data must be available faster and faster and the quality of reporting is becoming increasingly important. The creation of reports is often a resource-intensive and challenging process that involves different areas of a company. Data often has to be obtained from various sources and then laboriously prepared or manually entered, updated and supplemented.
For this reason, most companies are left with the mere possession of data without utilizing the hidden potential. The Reporting Factory helps to exploit this data potential. It provides a lean strategic approach to data analysis that leads to the effective and rapid exploitation of value creation potential step by step.
The Reporting Factory makes it possible to design the reporting process holistically and efficiently and to provide analyses in the shortest possible time.
What is a Reporting Factory?
The Reporting Factory is designed to relieve departments such as Controlling. Less time spent on reporting means more time for strategic management issues.
In order to achieve this goal, a clear unit (Reporting Factory) is defined, which is centrally responsible for the creation and provision of reports. This unit can, for example, consist of employees, a team or a department and Microsoft Power BI. Frequent and standardized activities are bundled in one organizational unit, which then supports the other company divisions with highly automated reporting services.
The core tasks of the Reporting Factory consist of standardizing the systems, automating reporting and improving system support.
The aim is to significantly increase effectiveness and efficiency by centralizing reporting. The aim is to establish scalable and robust architectures as well as improved and cost-effective reporting processes at a higher performance level. The implementation of transparent communication and a central knowledge database will free up employee resources that can be used to focus on the company's core tasks.
Advantages of the Reporting Factory:
- Long-term cost reduction
- Reduction of complexity
- Bundling know-how
- Standardized database and increase in data quality
- Increasing transparency in reporting
Disadvantages of the Reporting Factory:
- Initial outlay
- Partial conversion of processes
- Familiarization of employees
How do we proceed?
With our SCRUM-based process and agile project management methods, new and further developments as well as reporting maintenance can be implemented in a structured and efficient manner. Using the proven SCRUM process, the requirements are first defined and then divided into work packages. The packages are processed in iterative sprints and their results are evaluated. New requirements are created from the feedback collected, resulting in continuous improvement.
The Reporting Factory takes care of the process from the initial requirements, through the creation of reports and analyses, to the distribution of reports within the company and daily support.
Inventory & analysis
We review the existing BI environment and develop a suitable data strategy. The current data and report inventory is recorded. This is analyzed to determine evaluation and optimization options. It doesn't matter whether you are a BI beginner, advanced or expert.
Development of key figures
Together we define the necessary KPIs and key figures. Our business intelligence specialists help to develop suitable industry key figures from the data pool to measure a wide range of objectives. Depending on the requirements, a functional or analysis workshop is an option.
Creating reports
During the practical implementation, the necessary backend and frontend requirements are first created. Suitable reports are then created according to the latest design standards and individual CI guidelines.
Distribution within the company
With the help of a detailed authorization concept, the reports are distributed to exactly the right people within the company.
Ensuring availability
The Reporting Factory ensures the daily availability of reports from BI tools such as Microsoft Power BI on all devices at all times. The Managed Service Package ensures top availability of the BI environment.
Our BI / Analytics team, consisting of SCRUM experts and BI professionals, specializes in improving reporting with agile development processes. We provide support in information processing, the creation of targeted dashboards and reporting with BI tools - from strategic conception to the implementation of suitable application systems.
This enables fact-based decision-making and thus saves valuable time.
For further information, please get in touch with our Microsoft Power BI certified contacts.
