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Reporting Software Could Be Key To Economic Recovery

Reporting software could be the key to economic recovery, one new study sugges

For the last few years, businessmen, regulators, legislators and analysts have been trying to think of ways to turn around the flagging global economy. One new study, however, may have found the answer: reporting software.

There are several situations in which a company would benefit from

For the last few years, businessmen, regulators, legislators and analysts have been trying to think of ways to turn around the flagging global economy. One new study, however, may have found the answer: reporting software.

There are several situations in which a company would benefit from faster reporting, according to the case study analysis from software firm Windward. For example, breaking down marketing budgets by product line can help identify wasteful spending that may have been hidden by more profitable ventures. Adding health insurance information to a company's reports can also be done more swiftly - and less expensively - with the right reporting software tools, the study suggested.

"Most managers ask the question, 'is our reporting software capable of delivering the reports we need,'" pointed out Windward CTO David Thielen. "But usually that’s the wrong question. The question for most companies is, 'with our resources and needs, can we quickly create and revise the reports we need.' Companies need to use reporting software that, with the staff in place, can deliver the reports needed - quickly."

Moreover, companies are beginning to use cloud-based financial planning and reporting applications and software, according to a recent commentary on InformationWeek. Some providers have seen growth between 80 and 100 percent in the last few years.

Comments

Topic Expert
Barrett Peterson
Title: Senior Manager, Actg Stnds & Analysis
Company: TTX
(Senior Manager, Actg Stnds & Analysis, TTX) |

A procedural rule prohibiting expiration clauses, requiring permanent provisions, will provide much needed stability and reality to assist economic performance which needs predictability. End of the year enactment would still be a risk, but policy would be more transparent.

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