3 Reasons Leading Enterprises Use Report Writing Software

August 25, 2016 Elizabeth Kaydanovsky

report writing software

Have you ever automated something to make your life easier? I do it all the time. My credit card payments are automated; so are my savings deposits. Even travel-related records - flight tickets/itinerary/receipts - all get emailed to me the second I book.

These things take just a few minutes to set up, yet the payoff is so valuable: more time, less stress, and less mental clutter. That’s actually the best part – I do not have to think about it. Automating even these small tasks makes my life easier. And that’s just on a personal level. Now, let’s talk enterprise level.

For an enterprise, minutes matter. Time can equal thousands or millions of dollars. Time can equal the difference between a happy customer and an unsatisfied one. Time, or lack thereof, drives the evolution of an enterprise.

Why automate report writing with software?

However, automating simple tasks is not enough anymore. If a company can automate something as complex as natural language generation (NLG) with report writing software, it’s an investment in not only time, but resources, and client relationships.

In working directly with our customers as a Solutions Consultant at Narrative Science, I see many reporting pains. I also see a desperate need for resources, time, and relevant insight. NLG is the game-changing technology to make this a reality. Here’s how:

1) Speed

Natural Language Generation software can generate a report in a matter of seconds – a report that can take up to two weeks if done manually. Companies have gotten very good at collecting data. It’s no longer a thirst for data, it’s a thirst for fast insight. Keyword: fast.

Quick machine-generated insight allows business users to do their jobs faster and better because it buys them time.

“Intended audiences –whether employees, partners or customers –receive accurate, insightful summaries in seconds, at a speed only possible when delivered by a machine.”

- The Automated Analyst: Transforming Data into Stories

2) Accuracy

Data is constant, but analyses vary. And in this analysis phase, there is a lot of room for human error. For example, in budget reporting, one missed or incorrect number can cost an organization thousands of dollars, millions even. There is simply no room for mistakes.

Report writing software narrows the margin of error. Since the data structure is constant, report writing platforms, like Quill, know how to interpret it and deliver an accurate report every single time. That precision is extremely important and is what makes the software reliable.

3) Talent Can Work On More Complex Tasks

Analyzing data and writing reports manually takes a ton of time. Report writing is complex. It’s being a data scientist, a subject matter expert, and solid writer all wrapped up into one job. That is not easy and it can quickly turn into a grueling task.

Report writing software removes this burden for the employee. It allows talent to do what talent does best: more complex tasks and solving more complex problems.

Here are some reports I’ve seen our customers automate:

  • Budget reporting

  • Audit flux analysis

  • Tax consulting

  • M&A analysis

  • Portfolio commentary

Whether it is used for internal reporting to improve operations or external reporting to enhance client relationships, companies using report writing software have a clear advantage.

To learn more about how NLG can help you with report writing, visit our Solutions page.

Automated Analyst research report link

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