The New Era of Business Software and Reporting

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When you hear «business software» or «reporting» You may imagine binders stuffed with charts, spreadsheets, and footnotes. There are conference rooms that are filled with executives working through slides. What’s missing is the potential for business value creation.

This is changing because of a few digital technologies that are shaping the future of reporting. Machine learning and cognitive tools will take over much of the mundane work of gathering data, making reports, and then disseminating them. This allows humans to focus on more exciting work.

Utilizing pricing based on usage can also assist teams in gaining more value from their data. By cutting down the cost of data access this model helps companies to determine the value of their investment and enables them to swiftly increase usage and grow their efforts.

Software companies must reconsider their methods of building, distributing, and charging for their products if they are hoping to win in the Age of Connected Work. The winners in this new era will redefine what is meant by «product-led» in the broadest sense of the term and use their products as engines for customer acquisition retention, expansion, and acquisition. This will require a fresh tactical focus and a willingness to expand «as-a service» offerings beyond the fees for membership. It will also necessitate incorporating PLG principles into the way they design, develop, and deliver their products. To stay ahead, businesses must develop an integrated technology ecosystem that offers the structure, strategy, stewardship and oversight required to leverage data as an asset.