Why automate reports
Excel is the most common reporting tool used by many companies. It provides options for both basic and advanced level reporting. One of the easiest way to create these reports are using PivotTable. This allows to categorize, sort and group data. This is one of the simplest way to reduce noise from a large data set and build small and concentrated reports for various needs.
By automating repeated tasks like creating reports, companies can achieve
Generating reports can be complex and time consuming. Automation tools on the other hand, can link multiple data sources and generate reports. They speed up and improve the efficiency at which these reports are generated.
Automated reporting helps achieve consistency in both how a report is presented as well as the data accuracy. It helps avoid human errors and other underpinning impacts like non-compliance that arises because of such errors.
Bots can be triggered both on demand and scheduled. This gives the ability and flexibility to execute reports when needed. But more importantly, bots can be scheduled to execute on a certain day that helps creating reports on a timely manner.
One of the major shortfall of manual reporting is preparedness. Automated reports are helpful during audits. Bots keep track of all activities and can quickly determine data changes over a period of time. The audit trail bots create not only aid identifying changes over a period time, but can help to quickly correct them.
The possible candidates for automation are
- Same type of report generated
- Different type of reports generated for different type of audiences
What determines the need for automated reports?
- When generating manual reports becomes time consuming
- High error rates
- Missed deadlines