What Is Reporting Software and Its Different Types

Reporting software, otherwise known as business intelligence, is an application that presents data in a concise and required format. This information is used for further analysis. There are many BI tools in the market. Some provide an outsourced solution while others are commercially available. Your choice will depend on your needs and your budget.

Generally speaking, business intelligence software lets you create a format, design a layout, and outline the data fields. Format and layout are two of the crucial aspects of this program. These features ensure that the data is printable, understandable, and properly created.

Furthermore, this tool works with the database because it is where data is located. Once you have designed your layout, some programming needs should be implemented. In that way, it will be easier for the viewer to see and understand the report.

Apart from the layout and format, there are other features that you will get from the data reporting software. However, the functions depend on the type of system that you use. The most basic components are as follows:

1. Database connectivity – This feature lets you work with the top databases, such as MySQL, MS SQL, and Oracle. Furthermore, it allows you to work with MS Word, PowerPoint, Excel, and flat files.
2. User-friendly – Because not everyone is tech-savvy, the software should be easy to use. Also, it should have built-in mathematical formula, query builder and filtering, grouping, and sorting features. In that way, the user doesn’t need to transcribe SQL queries or coding.
3. Generates complex reports – There are reports that are hard to produce. However, with the use of this program, you don’t need to spend a lot of time creating reports. The only thing you need to do is to gather information, embed objects, and create the layout.
4. Charts and Graphs – While text is the widely used reporting format, there are instances where you have to use graphs and charts. This tool has these features that you can put on the report.
5. Exporting functionality – This component lets you convert your reports into HTML, Excel, XML, and PDF formats. In that way, it will be easier for the authorized person to view the report.
6. Publishing and emailing – Obviously, no one will see the report if you don’t publish it. Hence, this application has emailing and reproducing features so you can send your report to authorized groups and individuals.
7. Security – The report generator software has sophisticated safety aspects that allow you to give access to authorized people.

There are different types of reporting tools, and these are expense reporting, KPI reporting, and health care reporting platforms. Let’s discuss these systems one-by-one.

1. Expense Reporting Tool

What is an expense report? TechTarget defines this system as a program that provides a clear picture of the expenditures of the company. With this program, you will be able to save money for future use.

Many people have trouble in deciding the best expense reporting software for their needs because all providers claim that they have the best tools. However, you can only tell if it’s the right program if it performs the following tasks:

Scans receipts – One of the functions of this software is the scanning feature. This component lets you easily manage the company’s expenses. The only thing that your employees need to do is upload the proof of purchase to the system.

To do this, the authorized individual must take a photo of the receipt using his smartphone or a webcam, upload it, and send it to a designated email address.

Apart from scanning and sending proofs of purchase, the user can also add a comment to the picture. He can even attach it to the report or to the person’s line item, depending on the program’s functionality.

Automatically extracts the information – Before you can use the data, it needs to be scanned and extracted first. This tool gathers and analyzes the information to ensure that you get accurate figures.

Currency conversion –When you’re in a foreign country for a business trip, you need to pay the locals with their money. This program comes in handy because it automatically converts your cash into their currency. With the use of this software, overspending will be minimized.

Credit card integration – This application is now integrated with the leading credit card providers, such as MasterCard and Visa. Hence, it will be easier to monitor all your card transactions. Furthermore, it lets you change your data dealings. For instance, you can remove your last month’s expenses and store it in the archive.

Mobility – There are programs that let you access the data wherever you may be. You simply need to use your smartphone and an internet connection to monitor your expenses.

Email notification – When there’s movement in the data, the system will automatically send you a notification. In that way, you can check the latest expenditures of your firm.

Overall, the expense reporting system lets you monitor your expenses and edit the information wherever you may be. You only need to have an internet access in order to perform these tasks.

2. KPI Reporting Tool

A Key Performance Indicator (KPI), as Klipfolio defines it, is a value that measures the performance of the company. Its purpose is to inform the business owner if you’re in the right direction. With these figures, you can create a plan that will increase the company’s profits.

However, you can’t make a productive scheme if you don’t know where to focus on. This is where the KPI reporting system comes in handy. With this software, you can measure the company’s proficiency and the KPI status.

However, there are other characteristics of this tool. First, it lets you specify the date of the report. You can choose a weekly schedule if you want to monitor the progress of your firm every week. You can even select the monthly reporting to get an update regarding your KPIstanding. The choice lies in the marketing and business managers because they are the chief users of the program.

Second, it presents the overall condition of your business. Because of the figures provided by the program, you will have a better knowledge of your company’s status. Knowing the firm’s health enables you to determine whether the workload is enough to keep or to improve its standing. So if the company’s rate is low, the manager can create a scheme that will save the business.

Also, it is able to keep the previous KPI reports to let you identify the cause of the change. For instance, your company’s status is decreasing. To save your business, you may use the past KPI records to identify the cause of the ratings. In that way, you can use the data in creating a plan that will help improve the firm’s ranking.

Moreover, you can delete the previous records if you want. In that way, you will have more space for new statements and analysis.

Lastly, KPI reporting platforms have spreadsheets, tables, charts, and graphs. You can use these attributes to determine the growth of your business.

Indeed, this tool will help you make better decisions for your company. If you want to know the overall performance of the firm, then this platform is the best choice.

3. Health Care Reporting Tool

The health care reporting program is an application that provides information about the hospital or clinic and its patients. It highlights a database where the data is located. However, this part is more than just a database. There are other components which you can use for creating an informative report.

First, this tool presents the physician’s and the patient’s information. The administrative office can use these details to find the right specialist for the person’s condition. Moreover, it helps the doctor in giving the right prescription to their patients.

Second, it allows the hospital units to exchange information. There’s no need to go to a particular department to get particular details of a patient. You simply need to ask for a copy, and the unit will send it to you.

Lastly, it provides a complete financial and medical analysis. With this software, you will be able to identify the things you should and should not do. Hence, you will be able to control your expenses and use the saved cash for other purposes. Furthermore, issues on medical malpractice will be reduced to nil.

These are just some of the types of reporting programs that are available in the market. With these aspects, you can determine the current standing of your company and create a clearer report. However, you need to ensure that your chosen software product fits your needs. You may visit some review sites to know the pros and cons of each brand.

Do you want to know what the best reporting software is? Check out CrowdReviews.com and read our user reviews of reporting software.