Reporting Process Automation

Ask yourself this question: Is there a business or reporting process that you know that should be automated that hasn’t been? A reporting process that requires multiple staff member and several hours to complete when you feel there must be a simpler way? Almost invariably the answer is yes. Whether it is a manual lookup of details, consolidation of multiple Excel files, or some other redundant, time-consuming task, we have developed solutions in the past to automate those types of tasks.

Simple solutions to these everyday tasks can yield a significant return on investment. The FTE savings can allow employees to complete more meaningful tasks without being dragged down by time-consuming responsibilities. Automating reporting processes are a key opportunity for your organization to yield a tremendous ROI for your business intelligence initiatives.

Imagine this scenario: two members of your lending staff are stuck retrieving data from one or more applications, importing it all into Excel, modifying the data, pivoting or charting the data, and then sending the final report off to a manager or executive. Let’s conservatively assume these two FTEs dedicate 10 hours per week to their reporting tasks. For these two lenders, time spent compiling reports means time spent away from reaching out to loan applications or generating new loans.

Assuming a $50,000 compensation package for each lender, 25% of their time – equivalent to $12,500 each – is spent manually compiling reports. Suppose each lender no longer had to spend 10 hours per week handling manual report compilation because those reports were simply automated through the use of SQL, SSRS, and/or SSIS. We just developed a solution with a $25,000 per year value associated with it.

We aren’t done yet! Since those lenders get 10 hours each week back, they can spend more time generating and processing new loans. Let’s assume each lender can book one extra loan per week. Assuming an average loan value of $7,500 and a gross interest spread of 3%, this generates an extra $352,500 in loans (assuming 47 weeks to account for vacation, sick time, and holidays) yielding $10,575 in gross interest income.

All told, automating the reporting processes for these two lenders yielded $35,575: $25,000 in time savings associated with spending 25% of their time on the now automated process and an additional $10,575 returned by booking one extra loan per lender per week.

This the value of automating reporting processes! Here’s the best part: processes like these are EVERYWHERE. Truly understanding how data is being reported throughout your organization can potentially yield hundreds of thousands of dollars in time savings and organic value derived from those savings. This is one of the major reasons I encourage all banks and credit unions to look into our business intelligence/data strategy development consultations, so that we may explore the reporting environment at your organization and identify the many ways we can help save you time and money.

“Brewster is a highly functioning individual–socially and intellectually. He quickly applied his math skills into the business world of marketing and sales management, from forecasting a previously un-forecastable segment of our business to generating reports that informed us of our most fertile end user customer segments.

To say he is a ‘quick study’ is an understatement, and it’s near impossible to articulate how versatile and quick he is on the job. I can give him 10% of the instruction/guidance that I would give most other employees, and he does 300% more than what I asked of him, in 1/10th of the time it should take. I don’t know how he does it, but he does. I would truly endorse him with full confidence for any task/opportunity that you put in front of him. It was a true pleasure managing him, and would love to be able to hire him again on a more ongoing basis.

-Brian Mauriello, VP of Sales at Kinsley Power Systems


If you are interested in learning more, email brewster@knowlton-group.com

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