Washington, D.C. (PRWEB) September 09, 2014
ClearPoint Strategy, an organization dedicated to delivering a cloud-based management and reporting solution, recently conducted research on the most commonly used reporting processes and the effects that these processes have on employees. Surveying individuals across a wide spectrum of organizations and industries, ClearPoint sought to learn how teams manage their reporting process, the primary tools to complete these reporting tasks, and individuals’ overall opinions on their organization’s process.
Results found that on average, it takes individuals an astounding 89 hours to create a management report. Unsurprisingly, Microsoft Excel was seen as a tool that is frequently used for management reporting. But, 92% of respondents found building reports in Excel to be too time consuming. The survey also revealed that, on average, eight people are involved in the creation of a management report. In some organizations, spreadsheets are forwarded around to more than 20 people each month.
When asked about their most frequent problems with Excel, managers listed their top issues as spreadsheet errors, last minute changes, and a time wasted copying and pasting Excel into other presentation tools, such as PowerPoint. Managers also had issues with version control, broken formulas, invalid macros, and copy & paste errors.
These findings demonstrate the growing dissatisfaction with traditional reporting models, and an increased demand for a more seamless, integrated tool. ClearPoint, a cloud based solution, hosts both quantitative and qualitative data in one place, which can be easily converted into graphs, visuals, and management reports.
“ClearPoint was built from the ground up to help make managers more effective,” stated Dylan Miyake, co-founder of ClearPoint Strategy. “The problem we’re trying to solve with ClearPoint is the massive waste of management time that’s spent compiling, proofreading, and distributing monthly business reviews. Even at starting MBA salaries, 89 hours of management time translates to over $5,000 per report.”
Results from the survey, along with other reporting statistics, are featured in ClearPoint Strategy’s Infographic entitled, “Excel Hell”. This infographic, which takes a user through a relatable reporting process, can be found here: https://www.clearpointstrategy.com/road-excel-hell-paved-good-intentions-2/
About ClearPoint Strategy
ClearPoint makes complex management reporting easy and helps make managers more effective and productive. Built by managers, for managers, ClearPoint Strategy is a cloud-based reporting application that combines the ease of use of spreadsheets with scalability of a modern web application. Learn more at http://www.clearpointstrategy.com.