In the world of business, information drives all of your decision making. Warren Buffett didn’t become a billionaire by guessing; he did it by meticulously analyzing hundreds of annual reports, understanding that the devil is in the details.
Reports aren’t just for corporations. They’re just as important for SMBs. Accurate reports help businesses like yours to navigate the complex landscape of financial responsibility, track business performance, identify potential risks, and make strategic decisions with confidence.
At Cin7, we have the reports you need. We’ve built our reporting feature to transform how SMBs understand and leverage their business data. This isn’t just about numbers on a page; it’s about gaining actionable insights that can propel your business forward.
Let’s dive into how automated, personalized reporting can become your most powerful business ally.
For product-based businesses, comprehensive reporting isn’t just a luxury—it’s a critical necessity that transforms raw information into actionable intelligence. Effective business reporting goes far beyond simple record-keeping; it’s a powerful tool that illuminates your company’s past performance, present condition, and future potential.
These reports allow you to monitor your financial health, identify trends (good or bad), and increase efficiency. Better yet, business reports enable you to make wise, data-driven decisions.
For example, a risk assessment report helps you spot potential risks or concerning anomalies that may have gone unnoticed if the data hadn’t been actively collected and analyzed. Now, you’re in the enviable position of seeing something before it happens and correcting course before it does.
Reporting also ensures regulatory compliance. With increasingly complex legal requirements like the Beneficial Ownership Information Report (BOIR) under the Corporation Transparency Act (CTA), businesses must now meticulously document and report specific organizational details. These mandates aren’t just bureaucratic exercises—they’re designed to increase transparency and accountability in the business ecosystem.
In an era where information is power, sophisticated business reporting is no longer optional—it’s essential. Whether you’re a small startup or an established enterprise, the ability to collect, analyze, and act on your business data can mean the difference between survival and success. Consider utilizing the following reports.
Sales Profit Summary: This report shows profit and additional financial summary for sales. Use this report to see an overview of the amount invoiced, amount paid, COGS, profit, markup, gross margin and FX gains/losses per order or per customer for a selected reporting period.
Cash Flow Statement: This report shows how much cash is flowing into and out of a business, providing insights into its financial health and operational efficiency.
Inventory Valuation Report: This report looks at how much inventory a company has and values it based on the quantity at a certain point in time. It informs the overall cost and potential profit of the inventory on hand.
Product Availability: This report shows available, on-hand, allocated, and on-order quantities, and stock value for every product in every location for every batch/serial number and expiry date. It informs users of the expected delivery date of stock currently on order.
Inventory Movement Summary: This report shows a summary of stock movements in a specified timeframe. See financial information such as stock on hand value, volume on hand (if dimensions are specified), unit cost and average cost for all active products.
Lot Expiry: This report shows all product batches with their expiry dates. Use this report to check how much quantity on hand you have of different product batch numbers and when they will expire.
Production Cost Analysis: This report shows completed finished goods within the selected time period. Use this report to analyze finished goods yield quantity, production cost, and cost of component products and services.
These and other vital general reports provide you with factual insights into how your business is currently operating. You’ll be able to evaluate your overall performance, recognize opportunities, and identify challenges, and most importantly, make strategic decisions about how to take your business to the next level.
At Cin7, we offer over 70 specialized reports through our comprehensive inventory management software because we truly believe in putting your data to work. In fact, we love and value reporting so much, we’ve taken it a step further with our new AI-powered demand planning tool, ForesightAI.
ForesightAI delivers additional reports that give you a leg up on your competition. Here’s a sneak peek at some of ForesightAI’s reports and how they can help you grow your business:
Overstock Report: This report shows which items are overstocked and which items are likely to cause stockouts. Now, instead of having your capital tied up in inventory, you can reduce overstocking and improve your cash flow, optimize inventory levels to reduce waste and increase efficiency, and use the report’s insights to run promotions or discounts on overstocked items, accelerating your sales and improving turnover.
Stockout Report: This report shows which items are out of stock or will be soon, when the expected stockout will start and end, and how much lost revenue can be attributed to each stockout. By proactively addressing stockouts, you’ll protect your revenue, meet customer demand (and earn their loyalty), and improve your demand planning through identifying patterns, and enabling better forecasting and supplier coordination.
Sales Forecast: This report helps forecast sales for up to the next 12 months based on your previous sales history. View expected quantities sold and revenue for each product and location. You’ll be able to plan for demand, production, and inventory replenishment, helping you eliminate over-and-understocking. And it will help you grow your business by aligning your inventory, marketing campaigns, and resource allocation with expected sales trends while reducing costs and boosting efficiency through local forecasting.
Winners and Losers Report: This report helps you see:
With this report, you can prioritize high-performing products with targeted marketing and inventory allocation, phase out low-performing SKUs (freeing up cash flow and storage space, in the process), refine your product strategy, and enhance overall profitability by investing in “winners” and cutting “losers” to enhance overall profitability.
For Cin7 customer Brian Higgins, Managing Director, ABC School Supplies, the Winners and Losers Report has been a game changer.
“Now, if we have losers, we can act by removing them. When we find winners, we’re targeting them through things like our Google ad campaigns,” he says. “With chasers, we’re giving products a chance. To be honest, for 20 years, we probably cut products that would probably be selling well today.”
Cin7’s reports help SMBs skyrocket their growth. And we’ve made utilizing Cin7’s reporting capabilities extremely easy with our step-by-step Introduction to Reports article (available through our Cin7 Help Center).
With Cin7’s sophisticated reporting, SMBs like yours will have the data you need to grow your business and achieve outstanding success. If you’d like to learn more, request a demo today.
