The New Era of Business Software and Reporting

When you hear “business software” or “reporting” you may think of binders filled with spreadsheets, charts and footnotes. Or maybe conference rooms packed with executives slogging through slide presentations. What’s missing is the potential to create value for your business.

This is changing because of a handful of digital technologies that are shaping the future of reporting. Machine learning and cognitive tools will do a lot of the mundane work of gathering data, constructing reports, and then disseminating them. This will free human workers to do more interesting things.

Usage-based pricing is yet another way to assist teams to benefit from the benefits of data they already have more efficiently. By reducing the cost of accessing data the model makes it easier for companies to connect value with expenditure which allows them to rapidly ramp up usage and scale their efforts.

To compete in the Age of Connected Work, software companies need to rethink the fundamentals that guide their approach to creating, distributing and price their products. The winners in this new era will redefine what is meant by “product-led” in the truest sense of the word and use their products as engines for acquiring customers retention, growth, and even expansion. This will require a renewed strategic focus and a willingness to expand their “as-a-service” offerings beyond membership rates. It will also necessitate incorporating PLG principles into the way they develop, design, and deliver their products. To stay ahead, companies will have to build an extensive technology ecosystem that offers the design, stewardship and oversight required to make data an asset.