When you hear the terms “business software” and “reporting,” binders full of spreadsheets, charts, and footnotes may come to thoughts. Perhaps conference rooms crammed with executives ruminating over slide presentations. What’s missing in these images is the potential for creating value for businesses.
This is changing thanks to several digital technologies that are shaping the future of reporting. Machine learning and cognitive tools will take over much of the grunt work of gathering data, making reports, and then disseminating reports. This frees human workers to do more exciting work.
Utilizing pricing based on usage can also help teams get more value from their data. This model allows companies to better align the value of data with their spending by reducing the cost to access it.
Software companies must reconsider their methods of building, distributing, and charging for their products if it is their intention to compete in the Age of Connected Work. The winners of this new era will redefine what it means to be product-led in the broadest sense and use their products as engines for customer acquisition, retention, and expansion. This will require a fresh strategic approach and a determination to expand “as-a service” offerings beyond the cost of membership. It will also require the integration of PLG into the way they design and distribute their products. To keep ahead of the pack companies must create a comprehensive ecosystem that includes strategy, stewardship, and architecture, as well as management, to harness data.
