Many organisations believe that reporting must occur through their ERP systems. This belief can create a significant barrier, as any changes to reporting often necessitate lengthy and costly overhauls of these systems. However, this doesn’t have to be the case. By leveraging a data lakehouse platform, you can integrate data from various systems effectively to improve your reporting processes.
Navigating complex IT landscapes
CFOs and sales teams often struggle with the complexities of managing different ERP systems and scattered IT landscapes. Many organisations, particularly those that have gone through mergers and acquisitions, deal with a variety of systems that complicate efficient reporting. The good news is that you don’t need to eliminate these extra systems; instead, you can efficiently pull data from them.
Take our client, a global provider of assistive technology, as an example. Operating within the field of medical devices, the client had high regulatory and reporting standards to meet, and they were keen on making better use of their data. We showed them that building the right architecture doesn’t have to be a long or complicated process.
Previously reliant on manually updated Excel sheets for reporting, which were refreshed weekly, the client partnered with Valcon to automate their processes. Using a master data framework tailored to the client, we enhanced their regulatory reporting with daily updated reports and timely access to crucial data. This change not only boosted efficiency but also kept knowledge intact. And if the person responsible leaves, the documented processes and code allow for smooth continuation and further development.
Does this sound interesting to you? Then keep reading!
Streamline your reporting with lakehouse technologies
There are various ways to achieve what we did above, and it can be challenging to find the right approach. At Valcon, we recommend using a data lakehouse as the industry standard. Combining features of data lakes and data warehouses, a lakehouse is best described as a concept that enables organisations to work with data more effectively. Lakehouses can be applied to various data-driven solutions, but are particularly valuable for reporting, especially in fragmented environments resulting from mergers and acquisitions.
Technologies that support the implementation of a lakehouse include Microsoft Fabric and Databricks. With these platforms, organisations can connect to various systems and consolidate data efficiently. This data integration saves both time and resources, enabling effective reporting without requiring a massive process transformation.
To achieve the value we desire from a lakehouse, it’s important to build the organisation around the lakehouse that will actually deliver the reports. Organisational structure, competencies and processes are essential for building ongoing capabilities. Once you’ve got that foundation set up, it becomes a reliable base for ongoing data management and reporting.
Get started with a small-scale approach
It can be difficult to know where to kick off your reporting journey. The trick is to start small. You don’t need to build a massive lakehouse from the outset; instead, it’s about gradually adding data over time. By introducing processes in bite-sized chunks, you can quickly access valuable management information that supports improvements to profitability and working capital. Focusing on the data that’s most crucial for your business means that even small efforts can yield significant impacts.
The benefits of a small-scale approach are clear:
- Quick access to valuable management information
- Higher frequency of reporting is achieved sooner
- Reduced risk of dependency on specific individuals
- Reduced complexity
- Less intrusive to existing processes and operations
How can we help?
At Valcon, we take a human-centred approach, ensuring that the changes we implement are manageable and tailored to your needs. We can help you find the right technology and implement it in a way that makes your data work for you without turning your processes upside down. As certified partners of Databricks, and with several experts experienced in Microsoft Fabric, we can connect seamlessly to multiple systems.
If you’re considering improvements to your ERP system but are unsure where to start, we’re here to help. Feel free to reach out to:
- Richard Thorsen, Partner: [email protected]
- Morten Ib Ingstrup, Partner: [email protected]
We look forward to hearing from you.
