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Let’s face it. You want to run a profitable business. But do you know how much each account costs you as compared to your profit on the account if it is paid in full? Do your account reps know how they are progressing toward their goals? This vital data is required to ensure that you are running your business profitably. Reporting on this information helps you determine which accounts are most profitable and identify which of your clients are most profitable so that you can invest more with those clients.

According to Rozanne Anderson, Chief Compliance Officer at Ontario Systems, “A Compliance Management System (CMS) does not exist as an abstraction. Rather, a CMS is a system that must drive behavior, detect and remediate nonconformities, and protect consumers from harm resulting from violations of consumer protection laws. One of the most effective ways to know if a CMS is functioning properly and meeting its intended purpose is to create reports that audit and evaluate compliance with policies, procedures, client expectations, and the law. Make sure your reporting tool provides you with the critical insight into your operation, evaluating the effectiveness of your CMS and supporting your change management program.”

The right reporting provides insight into data to help keep your account reps on track toward reaching goals and identify those who need help. But with so many choices, how do you know which reporting solution is best for your needs? Consider these five critical requirements:

  1. Usability – Your reporting guru should not only know your business, but also have the technical aptitude to quickly grasp a full-featured reporting tool without a steep learning curve that can leave everyone frustrated. A reasonably technical user should be able to create reports and dashboards with a short learning curve.
  2. Dashboards – They say a picture is worth a thousand words, or in the case of monitoring the success of your business, maybe thousands of dollars. This saying is true of reporting tools which is why you need one with charts and graphs that allow you to build robust dashboards to gauge progress (or lack thereof) at a glance at any time.
  3. Web Access – Getting the right data to the right people in the best format is vital. Among your most important audiences are your C-level and clients whom should not require a user license, nor do they need to stumble through a learning curve, to see the data they need to see. Your reporting tool should allow you to output to the web for easy access to those who do not run reports or who reside outside your company.
  4. Multiple Data Sources – Your reporting tool should allow you to report on data in disparate systems (for example, your costs are in one system and your profits are in another system).
  5. Support – Choose a tool that allows you access to report templates and experienced staff who know your business needs. When you buy from a behemoth, it’s often challenging to get the training and support you need, and it’s even more difficult to suggest product improvements. Buy from a company you know and trust, a company that provides you access to help from people who know you and who know your business needs.

In order to run a successful business and set yourself apart from your competitors, you need the right information available to the right people, 24/7. Keep these five requirements in mind when choosing a reporting tool that supports this goal.


For information about Ontario Systems’ Ontario Reports™ solution, and what’s new with version 8, click the Learn More button below:

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Disclaimer: Ontario Systems is a technology company and provides this blog article solely for general informational and marketing purposes. You should not rely on the content of this material for any other purpose or as specific guidance for your company. Ontario Systems’ advice, services, tools and products described herein do not guarantee compliance with any law or industry standard. You are ultimately responsible for your own company’s actions and compliance efforts. Because everyone’s situation is different, you must consult your own attorneys, accountants, and/or other advisors to obtain specific advice on your company’s compliance, legal, tax, regulatory and/or other business needs. Despite Ontario Systems’ efforts to provide current and up-to-date information, you need to recognize that the information contained herein may become outdated quickly and may contain errors and/or other inaccuracies. 

© 2018 Ontario Systems, LLC. All rights reserved. Information contained in this document is subject to change. Reproduction of this publication is not permitted without the express permission of Ontario Systems, LLC.

Posted by Lisa Kemp

As Partner Relationship Manager, Lisa Kemp is responsible for managing relationships with over 40 Ontario Systems partners. She leads the Data Link product direction and manages projects for that product. She also manages the Ontario Reports product. During her 23 years with Ontario Systems, Lisa has managed the Technical Communications team and worked on several special projects. She holds a B.S. in English from Ball State University.
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