Optimize your quarterly reports - Best practices | Floway
Ways to optimize your quarterly reports - Floway Blog

Ways to optimize your quarterly reports


Quarterly reports are an important part of running a business. They provide precise data on how various elements of the company are doing and help adjust these factors to perform better in the upcoming time. The market changes constantly and stakeholders need confirmed, accurate, and timely reports to make informed decisions. Let’s look at some ways you can optimize the process of developing your quarterly reports.


1. Use quarterly report templates

There are some free templates that you can find online to make the quarterly reports easier and quicker. They include the most important information such a report should consist of and are a perfect go-to if you’re only starting. The downside? They don’t include specific information concerning your business; therefore, you still need to spend some extra time on customization. A quarterly report will only be valuable if it’s tailored to your business, so make sure to include your company’s stage, goals, position on the market, competitor benchmarks and KPIs.

2. Digitalize your company using SaaS

The easiest way to optimize not only your quarterly reports but also the whole organization is to digitalize the company. Most businesses do already keep all their invoices, important correspondence, and documents digitally, but they’re saved on personal computers instead of a shared cloud. It results in additional communication needed to acquire necessary files. With a SaaS, you can choose who to share the information with, ensuring both transparency and security.

3. Analyze your metrics regularly

If you only look at business data when making an important decision or when you’re developing a quarterly/yearly report, it might be overwhelming. It also minimizes the chance of noticing arising opportunities. Make analyzing your metrics a part of your weekly or monthly routine, depending on the size and type of business you run. Leverage the software you’re using and pull real-time data on the business activities and prioritize them accordingly to the decisions or reports you’re about to make. This way you establish a data-driven operation that’s objective and your business stays competitive.

4. Automate the reports

Finally, the best way to optimize the quarterly reports is simply to automate them. Business Process Management software can streamline the process of collecting all data and drafting them into a report. This method helps to create the report much quicker and limits the possibility of errors. 

With Floway, you can develop a personalized document form and connect it with data, so that the report fills itself in. Collect all necessary information from the team using flow templates and remind them of deadlines with custom notifications. That way everyone knows what they need to deliver and when. Automatically send the report to your supervisor and see when it’s approved. Our advanced workflow tool will manage all of the elements we shared in this article, and can standardize not only quarterly reports but everyday business as well.


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