Reporting

Data-driven applications are crucial for delivering important business insights, which are now part of any online enterprise. Customers tend to utilize single interactive and intuitive user interfaces to visualize their data. Moreover, the informational dashboards are increasingly being used in tracking everyday activities such as summary of current usage, cost and balance of an online account, daily test reports or fitness exercise statistics.

The increasing numbers of products and changes in reporting frequency are just some of the challenges one faces when preparing financial reports. Most large investment banks suffer from over reliance on end-user developed spreadsheets. Controlling the growth of this spreadsheet jungle is a challenge from a data security, disaster recovery and operational risk point of view. If Finance requirements are being met thorough these local solutions rather than requests for online systems, then IT role as an enabler for financial reporting is questionable.