Business Environment

One of the latest tools that has become available for today’s business managers is what is commonly referred to a reporting software. So, what exactly is reporting software and what does it do? Also, while it may be applicable to other businesses is it in fact applicable to yours?

Many Variations of Reporting Software

The fact, is that reporting software is available in several variations and is used for any of a number of purposes. In short, what it does is take raw data and convert it into an easy to comprehend format. At the same time it simplifies or refines this same data to make it far more easy to use.

Growth Brings Increased Potential for Losses

Unfortunately, as a business grows the financing of its operations can tend to spiderweb out in several directions. It’s just something that has become to be expected and accepted. Thus the margin for losses also tends to expand as well with growth.

Detecting Theft and Fraud

Reporting software allows a business to keep a tighter grip on their expenditures during these periods of growth, thus minimizing these expected losses. For instance, losses through theft or fraud can be far more easily and quickly detected with today’s modern reporting software.

Piles of Data Instantly Converted into Visual Format

One of the main reasons that reporting software makes managing a businesses expenses so much easier is that it instantly converts raw numbers and data into easy to understand charts and graphs. This is turn makes side by side comparisons a snap. Of course this in turn can make relevant correlations so much easier to see.

Quicker and Easier Information Management

No need for an accountant to crunch numbers and explain irregularities when they can be plainly seen on a simple bar chart. Also, subtle trends become not so subtle when they are laid out in plain sight on a line graph. In today’s business environment information is power and reporting software makes processing and managing information much quicker and easier.

Whenever people talk about great brands they invariably talk about Coca Cola, Federal Express, Pepsi, Harley Davidson, Nokia, Apple, Starbucks etc. If we carefully go through this list we can safely establish that most of these brands are consumer brands or business to consumer (B2C) brands.

Almost every expert in the field believes that brands in the B2C environment are essential to leverage market opportunities and boost company’s bottom line. But in the business to business (B2B) environment the managements are of the view that branding is not significantly relevant. This view has emerged from the belief that in the competitive business to business environment people invariably know the best supplier of the product and one who produce the best quality. With this access of information people often take their decision based on numerous trade inquiries and negotiations rather than call of emotion as in the business to consumer market.

Mokushla Consulting Research over 40 B2B companies has revealed that branding is as essential in the business to business environment as it is in the business to consumer environment. It plays an important role in not only business leads but also in negotiation process. Better branding not only positions the company in greater light to its other commodity market competitors but it also enables it to charge that premium in relation to its competition.

Some of the B2B brands have positioned themselves as consumer brands even though they essentially operate in business to business environment. These brands are Intel, Microsoft, HP etc. According to HP senior executive branding helps the company in not only better visibility among potential business customers but also gives sales people more time to convince them and close the deals.