Reporting as a tool to improve business performance
Effective managers in any business rely on a range of reports to help them make informed business decisions. In the staffing industry specifically, reports are commonly used to identify trends, track performance, develop forecasts, and drive overall business improvement. In the midst of the global skills shortage and a candidate-tight market, increasing efficiencies and improving performance across all operations is critical for staffing agencies wanting to achieve growth.
Here are five ways your business can turn the data you already have at your fingertips into valuable information through the use of reports in FastTrack360.
One of the stand-out benefits of using an end-to-end platform is having all your data in one system. But, are you using that data to measure and drive performance?
KPI reporting can help develop good recruiting practices by measuring and displaying user performance against key metrics. Depending on your specific business objectives, some things you might like to measure include:
- Job creation
- Fill ratio
- Comment and activities
- Revenue generation
- As a basic rule – if you record it in the system it can be
- reported on and measured.
Bring your reporting to your users by embedding reports into your primary records. Reports can be embedded into the Dashboard, Organisation, Client Contact, Candidate and Job Order records. Embedding reports into these primary records where real-time data is immediately front of mind will drive user engagement with the reports.
USING REPORTS TO REDUCE ERRORS AND ADJUSTMENTS
Reporting can assist in finding and identifying errors before a pay is even run. What are the data errors you see regularly occurring? Can these be identified in a report at the interpreter level before running your payroll? Excess pay or bill amounts, incorrect pay and bill quantities, duplicate timesheets, missing data and other areas can all be identified through custom exception reporting. This provides a great opportunity to be proactive, reducing the risk of error and minimising the time spent on adjustments.
CUSTOM REPORTS TO REDUCE MANUAL PROCESSES AND IMPROVE ACCURACY
Do you extract data from several sources and combine it to produce an outcome for a client or for internal purposes? If the data is stored in FastTrack360 then developing a custom report to do this work for you could save a lot of time and repetition, and also eliminate errors from manual intervention. Review your business processes to identify areas of opportunity.
USE OF HOTLINKS TO DRIVE EFFICIENCY
Hotlinks can be added to reports so you can open Organisation, Job, Candidate, User and Timesheet records directly from the report output, saving you time whilst also reducing data entry errors.
In order for your reports to provide valuable insight, it is critical that the data used is accurate, timely and relevant. Automating, standardising and simplifying processes will help achieve this by eliminating duplication of tasks, reducing risk of manual error, and ensuring the correct flow of information. The business visibility and data flow afforded by using a single software platform for all business processes from recruiting and timesheets to payroll and client billing, cannot be underestimated.
FastTrack’s in-house professional services team provides training and support for customers wanting to use reports to their full capability through:
- Academy sessions (reporting basics)
- Basic report writing training
- Custom report creation
To find out more, please reach out to your FastTrack Account Manager to discuss your needs, or request a product demo via www.fasttrack.com.au/contact-us