Transparency is a vital foundation for facilities management and security services companies. With clients entrusting them with large-scale projects and budgets, it’s important to share incremental updates to maintain trust and confidence.
Regular reporting is essential for the client/company relationship, ensuring ROI and KPIs are met, and potential risks are rectified sooner rather than later.
Even missing out the smallest details can conceal risk and overspend. Such issues always resurface later, at which point requiring lengthy and expensive error resolution.
Reporting can help keep things in perspective. Regular updates prevent issues from mutating, presenting your clients with unfavourable and unexpected results later down the line.
Transparent reporting can be make-or-break for client retention and industry reputation. Reporting back with timely and accurate information keeps you accountable to clients and shows them your ability to maintain their timelines and budget.
Where are FM and security services companies going wrong with reporting?
Poorly organised workflows and unequipped tech is often the route of the issue. Complex tech stacks made up of multiple, manually operated systems easily give way to human error. As well as this, the time taken to process data often means it is obsolete by the time it is input into reporting documents.
Overall, this leaves your clients with an unclear picture of how their budget and timeline are being managed. This limits their ability to raise issues or communicate new requirements, meaning the final result can easily fall short of expectations.
What do you risk in compromising reporting processes?
Erroneous and untimely reporting can have disastrous effects on your budget, project, and client relationships. Without this vital transparency, delays, temporary labour overspend, and risk can easily occur.
This can eventually lead to unexpectedly inflated invoices and poor project results, ultimately compromising your clients’ core business. Needless to say, the knock-on effect will be a loss of clients, reputation and profitability for your FM or security services company.
Taking on Tech for Improved Client Reporting
With a carefully selected tech solution, you can process data more efficiently and keep up relevance and accuracy for your client reports. There are a number of features to look for in a solution for optimal reporting. Here are a few:
- Cloud Computing: This allows data centralisation, meaning you can access it via a single login on demand. This also enables real-time updates, keeping data relevant and accurate up to the minute. Without the need for complex tech stacks, data never has to lose relevance to time-consuming processes or access limitations.
- Automation: By reducing manual operation, you reduce human error and keep your reports accurate and conscience. Along with real-time data, automation means your reports can better reflect your current project status and maintain transparency between you and your clients.
- DaaS: It’s vital that you don’t fall at the final hurdle in maintaining accuracy for reporting. Manually transferring data into excel spreadsheets for final reports can be longwinded and erroneous. DaaS functionality, however, can allow direct data extraction with automatic spreadsheet conversions. With just the click of a button, you can download complete, accurate and up-to-the-minute updates in CSV format to immediately share with clients.
Don’t Risk Client Relationships—Take on Tech for Transparency
Accurate and timely reporting is a vital foundation for strong client relationships and is critical for long-term retention. Keeping your clients in the dark or, even worse, reporting back incorrect data only causes further damage when things like risk or overspend inevitably come to light.
With an updated tech solution, you can process data with accuracy in real time and with easy data extraction, effortlessly send regular reports, keeping your clients in the loop and on your side.