The 5 reporting challenges EVERYONE faces

How to master timelines, budgets, and performance

The reporting dilemma

Running a profitable agency isn’t just about client work—it’s about understanding its impact from start to finish. Yet, a third of leaders say reporting is a top concern. Real-time insights are key—discover solutions to streamline your reporting and keep your agency on track.

1. The reporting breakdown

Many agencies face challenges due to a lack of proficiency with reporting tools and difficulties in sharing them internally. 35% of agency leaders highlight this as a top internal challenge for 2024.

Quick tip: Invest in team training to enhance tool proficiency and adopt a project management tool that has an intuitive user experience. The easier the tool is to adopt and use, the more accurate data you'll get out of it.

2. The tool conundrum

Outdated reporting methods are keeping many agencies running in second place. Only 33% use project management software for client reporting, and just 32% use time tracking tools or templates.

Quick tip: If this sounds like you, consider upgrading to advanced reporting features in platforms like Teamwork.com to leverage integrated reporting tools with real-time data. This will streamline client reporting, enhance efficiency, and ensure that you have the insights you need to stay on track.

3. The accuracy issue

Manual processes lead to inaccuracies in reporting. 37% of agencies believe this reliance results in unreliable reports, and 58% find their efforts fail to demonstrate ROI.

Quick tip: Implement AI and automation to cut down on manual errors and regularly align with client expectations for accurate reporting.

4. The data deficit

Without real-time data, accurate reporting is nearly impossible. 29% of agencies face challenges due to a lack of real-time insights.

Quick tip: One of the biggest issues agencies face is having data on different types of work located in different places. This makes it difficult to get one view of what your teams are doing, and where your time and budget is being spent.

Consider investing in tools offering real-time data integration for timely, accurate reporting that keeps projects on track.

5. The forecasting fallacy

Effective forecasting is crucial but many agencies fall short. 35% find financial performance and budget reporting challenging, indicating a need for better forecasting models.

Quick tip: Develop a robust forecasting model that integrates with your reporting tools to enhance accuracy and support growth.

As an agency grows and evolves, it's easy to end up with too many reports that are overlapping. Pausing and evaluating what reports matter the most has enabled us to integrate key reports and drop some that were no longer serving a purpose. Utilizing new technologies and systems also plays a key role in this evolution.

Kevin Moore, Chief Executive Officer, Legacy Communications

The takeaway

Don’t let reporting breakdowns and tool inefficiencies sink your agency.

Fixing these critical issues isn’t just about avoiding headaches—it’s about transforming your entire operation. By addressing reporting breakdowns, tool inefficiencies, accuracy issues, data deficits, and forecasting challenges, you’ll revolutionize your agency’s reporting capabilities.

Imagine streamlined processes and real-time insights that boost client satisfaction and trust. Accurate and timely reporting means clients are more confident in your work, while better forecasting and reduced manual errors translate to smarter financial decisions and higher profitability. Tackling these areas head-on will not only solve persistent problems but also unlock your agency’s potential for greater efficiency and success.