Speed Up Your Performance & Improve Risk Monitoring With Automated Reporting Software

Automated reporting software has the ability to monitor your data and alert you to any risks that may jeopardise your financial strategy. Even so, many financial companies opt to populate their databases manually, resulting in fewer checks and balances, including those related to human bias.


The Human Bias Issue in Trading

We have been in the financial data business for over 20 years and, throughout this time, we have seen many things evolve. Yet one thing that has sadly remained a constant is the amount of financial companies that continue to expect their employees to manually populate their Excel sheets.

This is a thankless task that comes with multiple pitfalls

  1. It’s a time-consuming process that requires employees to go through many sources and input the data themselves. 
  2. Its repetitive nature increases the chances of human errors
  3. More importantly for today’s topic, having such a process means that the system relies on human beings to check and act upon the data, leading to potential human bias that could cost you opportunities.

But what is this human bias?

According to Psychology Today, human bias is the ‘tendency, inclination, or prejudice toward or against something or someone’. Of course, some of this could be positive, but in terms of trading, what this often means is that traders may interpret data in an inaccurate manner due to their past experiences, fears, or dislikes.


Automated Reporting Software Is the Perfect Solution

Automated reporting software does away with human bias simply by following a strict set of rules based on your strategy. This results in reports that are based solely and purely on data that is devoid of human bias, giving you a clearer picture of what you truly have to work with.

Having said that, this software is not here to replace the hard-earned expertise of traders. In fact, it still requires people with knowledge of the markets to determine the path it should follow, while the reports it issues are simply meant to offer unbiased insight into markets, liquidity prices, and so on.


Leave The Dirty Work To Machines

Moving on to automated reporting software ensures your company has the latest data analysed in a way that is unprejudiced, thus opening new avenues for opportunities. 

If you’d like that for your company, then get in touch with us to discover how our systems can be tailored to your needs at a fraction of the price of other customised software.