Part five: 3rd Party Reporting Tools

Welcome to the final part in our Reporting with Purpose series.

Why is reporting from multiple data sources important?

Reporting with your 3rd Party solutions will give you a holistic view integrating data from various tools and business metrics (e.g., sales, timelines, customer feedback) to provide a complete picture of the product launch. This allows the retailer or brand owner to make better decisions by providing a unified view of all relevant metrics and insights.

How does reporting with 3rd party reporting tools help retailers and brands?

-?????? Automation of Data Collection: 3rd party reporting solutions can automate the data collection process from multiple systems, reducing the manual effort required. This automation minimizes human error, ensuring data accuracy and reliability. Additionally, it allows for real-time updates, providing instant access to the latest data compared to manual collection methods, which can be slow and prone to errors.

-?????? Improved Overall Performance Tracking: These solutions enable performance tracking by consolidating KPI measurements from various tools. This holistic approach ensures that all aspects of the product launch process are monitored and evaluated, from supply chain efficiency to sales performance and customer feedback.

-?????? Benchmarking and Comparative Analysis: 3rd party reporting solutions facilitate the comparison of performance against industry benchmarks and past launches. This comparative analysis helps identify best practices and areas needing improvement.

-?????? Enhanced Risk Management: Reporting with 3rd party solutions support risk management by identifying potential issues early in the product launch process. Early detection of risks allows for proactive remedial actions and effective contingency planning, minimizing the impact of unforeseen problems.

-?????? Alignment with Goals and Responsibilities: 3rd party reporting solutions help retailers and brands align their activities with their strategic goals and responsibilities, such as Extended Producer Responsibility (EPR) regulations. For example, they enable the comparison of primary packaging weight data with sales figures, ensuring regulatory compliance and supporting sustainability initiatives.

-?????? Resource Optimization: By providing detailed insights into the efficiency and effectiveness of various tasks within the product launch process, these solutions help identify bottlenecks and areas of waste. This information allows retailers and brands to optimize the use of resources, improving productivity and reducing costs.?

Access to accurate and reliable business insights is critical. The ability to generate on-demand reporting, supplier performance metrics, process KPIs and category analysis will support instant decision-making, creating business agility.

Opal BPM is a comprehensive process management and artwork approval software platform, used by leading retailers and national brands to give them complete control and visibility of their packaging and labeling, ensuring products reach the market safely, legally, and on-time.

Our integrated reporting capability enables our clients to track, measure and report on multiple data points from every stage of the product launch journey including supply chain performance, internal team efficiency and operational KPIs.

Contact us to meet with one of our product specialists [email protected]