In the age of digital transformation, traditional paper-based reporting is increasingly becoming a hurdle rather than a tool for growth. Recently, In22Labs had the opportunity to work with one of India’s top chit fund companies to completely transform their approach to data and reporting. By using Power BI and Power Automate, we introduced a paperless, accessible, and insightful reporting system that has redefined their decision-making process. Here’s a look at how this transformation unfolded.

The Challenge: Breaking Free from Traditional Paper-Based Reporting

Our client had been using an ERP system to record their transactions, but every month, reports were still generated on paper. This outdated approach created multiple challenges:

Heavy Reliance on Paper: Reports were printed every month, adding to costs and increasing environmental impact.

Limited Accessibility: Only those with physical access to the reports could view them, slowing down decision-making.

Inconsistent Insights: While data was technically available, valuable insights were difficult to uncover without a modern analytics tool, leaving many opportunities unexplored.

They needed a solution that would reduce paper usage, simplify access, and unlock insights – without sacrificing accuracy.

The Solution: Power BI and Power Automate for Paperless, Insightful Reporting

In22Labs designed a streamlined, data-centric solution to address these challenges. Our approach focused on digitizing their reporting and automating key metrics, helping the company become more agile and efficient.

Step 1: Digitizing Reports with Power BI Dashboards

First, we converted their monthly paper reports into interactive Power BI dashboards. These digital dashboards replaced stacks of printed documents, allowing team members to access critical data at any time.

Customized Analytics: We recreated the logic from their paper reports in Power BI, adding advanced features like “What-If” analysis to model various financial scenarios.

Time Series Forecasting: By applying time series forecasting, the company could now project future expenses and income, giving them a clearer picture of their cash flow.

Step 2: Automating Notifications with Power Automate

In addition to the dashboards, we used Power Automate to keep the team updated on key metrics with automated email notifications.

Daily and Weekly Alerts: We configured Power Automate to send summary emails with essential data, keeping the team informed without requiring them to manually check reports.

Error Reduction: By automating repetitive tasks, we minimized the risk of human error, making reporting more accurate and reliable.

Step 3: Implementing Advanced Analytics for Smarter Decision-Making

To provide even deeper insights, we integrated additional analytics into the Power BI dashboards:

Dormant Customer Identification: A new module now highlights dormant customers every month, helping the team focus on retention strategies.

Spend Analysis and Expense Tracking: With an in-depth spend analysis feature, the team can track expenses and manage resources more effectively, increasing profitability.

Income and Expense Projections: Using advanced calculations, the team can now predict monthly income and expenses, enabling better financial planning.

The Impact: More Efficiency, Less Paper, and Better Decision-Making

The results have been transformative:

Time Savings: Generating monthly reports now takes just minutes, freeing up valuable time for deeper analysis.

Enhanced Customer Insights: By identifying dormant customers monthly, the team can proactively re-engage clients, which improves customer retention.

Streamlined Reporting: Report preparation time has been reduced from days to minutes.

Reduction in Human Errors: With automated reporting and notifications, human errors have been minimized, leading to more accurate reporting.

Sustainable Reporting: The shift to paperless reporting has not only cut costs but also supports the company’s commitment to environmental sustainability.

Conclusion: Data-Driven Success for the Chit Fund Industry

By integrating Power BI and Power Automate, In22Labs enabled this leading chit fund company to embrace a digital-first approach to reporting. With instant access to real-time insights and automated updates, they’re now making faster, more informed decisions, with a reporting process that’s efficient, sustainable, and insightful.

At In22Labs, we’re proud to support our clients in their journey to better data-driven decisions and sustainable growth. This project stands as a testament to the power of digital transformation, and we look forward to continuing our work with companies looking to achieve similar successes.