Blog

Importance of Reporting
03/02/2018
Julie Lovett's picture
Author:
Julie Lovett

Many clients who invest in an Integrated Workplace Management System (IWMS), Computer Aided Facility Management (CAFM) applications or Point Solutions know the expected immediate benefits of the module(s) implemented, i.e. having the ability to track leased or owned properties across a portfolio, integrating building data with the Building Automated System (BAS) for complete data capture of building information and/or  utilizing the space module to track and analyze space utilization and locate employees in a building. The immediate need for critical information may cause users to overlook the other significant benefits to be achieved in having fully integrated, reportable data. Access to integrated data through reporting will change the way Property and Facility Managers perform their jobs and manage their properties.
 
As companies prepare for the FASB regulations in effect January 1, 2019 (with a two-year lookback) and work to integrate their financial systems with key real estate management systems to report the necessary FASB information, the topic of reporting is on everyone’s mind. What reports are available? How do we recreate our 50 reports in the new system? Can we modify the existing reports that come with the application?
 
The long and short of the answer is depending on which solution you select there could be hundreds of reports available. The recommended approach is for organizations to analyze the reports they have today versus the reports they will need in the future. Some key questions are:
 
·   Are any of the reports I have today very similar? If so, could they be combined into one report?
·   Is there data that I need today that I do not have the ability to report on?
·   Are my users looking for detailed reports or do they really need dashboards which highlight issues and allow them to manage by exception?
 
We tend to stick with what we know which causes many organizations to fall into the trap of looking to duplicate their existing reports instead of really analyzing how useful those reports are. Applications today have not only the capabilities to run simple retrieval queries where detailed information is needed, but also to produce dashboards that allow end users to focus on problem areas within the portfolio helping to streamline business processes to address issues quickly and efficiently.
 
At EBUSINESS STRATEGIES we believe in Technology Enablement which means that we not only implement applications, we implement solutions to help support business processes which requires strong reporting. Understanding client reporting requirements up front allow us to help not only with the implementation of a selected application, but also with product selection. Many of our team members have extensive industry experience and understand that the success of an implementation relies in the ability to retrieve and report data accurately. If you are considering selecting an application or if you have implemented a solution but are struggling to access your data in a meaningful way, we can help. Please visit us at askebiz.com for more information on our service offerings. 

 

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