You may use online banking to keep track of your personal expenses. It’s simple, right? You log in, and with just a few clicks you can understand the state of your personal finances, including cash outflows, inflows, debts owed, and payments scheduled. What about keeping track of your business records? This task is probably a bit more frustrating. Making sense of your business’s finances might involve traversing multiple systems that identify pieces of information differently and store it in different formats. Perhaps you made a wrong keystroke or misplaced a click, and the report you pull doesn’t actually contain the information you needed, so you have to spend time redoing your work. Then, the data might need to be compiled using extensive copying, pasting, and manual manipulation. And then once you’re done with all of this, you remember that the finished data is already ten or more days out of date because the original systems don’t provide real-time information. So, perhaps the task of making sense of your business data is significantly more frustrating.
But why should it have to be this way?
For example, let’s take a commonly-used financial report that isn’t typically offered standard in enterprise software packages: the 30-60-90 aged receivables report. This report shows all contacts with outstanding balances, broken down by the number of days that the balance has been outstanding: 30, 60, 90, and more than 90 days. It holds information related to one of the most important functions of your business: collecting payment for the goods or services you’ve provided to customers.
This information is important for many people within organizations. It’s important to customer service representatives for understanding the true state of accounts in order to properly handle customer concerns, it’s important to the finance department for forecasting receipt of payments, and it’s important to account managers to understand which accounts are delinquent and by how much. It’s a wonder that this information is so difficult to obtain when it affects the jobs of so many people.
What if business software could automatically aggregate data for such a report from disparate business systems, and present it in an easy-to-understand format? How powerful would it be for your business to have access to real-time, accurate information on all the payments it’s owed?
There’s already a solution to this particular source of frustration, built into Clear Software. Standard. Ready and waiting for your data. Interested? Contact us to learn more.
In case you missed them, check out the other posts in our Frustration series: