4 Business Benefits of Automated Report Distribution in 2024
Efficient data management helps businesses identify trends to make data-driven decisions in their business processes. Sharing data in the correct format and with the right personnel helps businesses to make accurate and timely decisions.
However, sharing data and financial reports manually in large business environments often results in delays and waste of resources. The manual report distribution process is subject to errors, time-consuming, and open to security risks. It can delay business processes significantly and cause losses.
Automation in report distribution can improve transparency, efficiency, and agility in business processes. In this article, we will mention 4 benefits that automated report distribution provides to businesses.
What is automated report distribution?
In a modern business environment, businesses share massive amounts of data in different forms including reports. Businesses use these data in a wide range of processes from analyzing buying trends to decision-making in vendor selection. However, timely and accurate business processes depend on a secure, fast and accurate report distribution system.
Automation helps businesses to have such standards. Automated report distribution software can create and send reports within and outside of a business in multiple formats.
What are the benefits of automated report distribution?
1. Prevent mistakes
Manual data retrieval from different resources is a troublesome and error-prone process. Automated report distribution software can transfer data into a meaningful structure in a short time and eliminates the chance of manual errors. This way, it saves businesses time and resources.
2. Ensure compliance with data governance
Storing and processing data is subject to data protection regulations. However, sharing data in multiple forms and through numerous ways such as email, memos, WhatsApp messages, etc. makes data protection difficult.
Automated report distribution guarantees that data is securely sent to concerned parties at the right time and in the right form. It helps businesses comply with in-company and government regulations and prevents legal risks by enforcing policies on those who own critical data. Besides, report distribution through automated software is secure as most of this kind of software constantly receives security update patches to minimize infiltration and malware.
3. Eliminate security risks with access management
Manual report distribution runs the danger of being sent to the wrong individual or an unaffiliated employee, which poses a security risk.
Automated report distribution eliminates such security risks by providing an access authorization system. With this system, only those who are authorized can have access to data. Or on the other hand, the report can be programmed to only be sent to authorized personnel.
4. Have audit trails to be more transparent
Automated report distribution leaves a digital footprint that can be traced back for internal or external use. The audit trail enables transparency by showing who created a report, shared it with whom, and who had been granted access to it.
Moreover, because of digitized archiving, the management can have access to previous reports through a simple click.
To learn more about finance automation, feel free to read our articles:
- Top 5 Benefits of Automating Your Financial Reporting
- 5 Accounting Automation Technologies & Their Use Cases
- 4 Ways to Improve Record to Report (R2R) by Automation
If you are looking for automation tools, you can visit our hub for the automation software landscape.
To gain a more comprehensive overview of workload automation, download our whitepaper on the topic:
If you have other questions about report distribution, we can help:
Cem has been the principal analyst at AIMultiple since 2017. AIMultiple informs hundreds of thousands of businesses (as per similarWeb) including 60% of Fortune 500 every month.
Cem's work has been cited by leading global publications including Business Insider, Forbes, Washington Post, global firms like Deloitte, HPE, NGOs like World Economic Forum and supranational organizations like European Commission. You can see more reputable companies and media that referenced AIMultiple.
Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised businesses on their enterprise software, automation, cloud, AI / ML and other technology related decisions at McKinsey & Company and Altman Solon for more than a decade. He also published a McKinsey report on digitalization.
He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem's work in Hypatos was covered by leading technology publications like TechCrunch and Business Insider.
Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.
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