The New Era of Business Software and Reporting
When you hear “business software” or “reporting” you may think of binders filled with charts, spreadsheets, and footnotes. Or perhaps conference rooms crammed with executives slogging through slide presentations. What’s missing is the potential for business value creation.
It’s changing, due to a variety of digital technologies that are combining to change the way we think about reporting. Machine learning and cognitive tools will be able to take over a lot of the tedious work of gathering data, constructing reports, and disseminating reports. This will free human workers to do more exciting things.
Utilizing a usage-based pricing model can also help teams gain more value from their data. This method allows businesses to better connect the value of data with their expenditures by reducing the cost to access it.
Software companies must rethink their principles for building and distributing their products, as well as charging for their products if they want to be successful in the Age of Connected Work. The winners of this new era will redefine what is meant by being product-driven in the truest sense of the word; they’ll use their products optimizing resource allocation to maximize productivity and profits as engines for acquiring customers retention, growth, and even expansion. This will require a renewed strategic approach and a determination to expand “as-a service” offerings beyond membership fees. It will also require the incorporation of PLG principles into how they design, build, and deliver their products. To remain competitive, companies must develop an integrated technology ecosystem that offers the strategies, stewardship and oversight required to make data an asset.