Building a brand that is trusted, recognizable, and loved by many is not an easy task in today's competitive business environment. A good product or service is not enough anymore to set your company apart from the competition; you need to offer a personalized experience. Across industries, this shift is taking place, and it is no different when it comes to data analysis and reporting. The question is, how can this industry provide a personalized experience that will make clients feel valued?
The answer is white labeling. With this technology, agencies and other businesses are able to offer custom analytical capabilities to meet users' needs without having to invest in developing their own solutions.
Businesses and agencies can generate customized interactive reports and dashboards with white label reporting tools and features. Clients and other stakeholders benefit from personalized experiences provided by this technology.
Essentially, white labeling means being able to add all your branding elements to a third-party product (in this case, a reporting software) and make it look like your own. As a way of displaying a professional image to external stakeholders, like investors, or keeping a cohesive image with employees, businesses use white label reporting software.
So how do businesses do it? To understand the real-world implications of white label reporting, let's look at three distinct examples.
01. How reports create value to research and consulting companies
White label reporting can be beneficial for businesses of all sizes. Let’s take a look at how Verified Market Research (VRM) was able to use white label reporting to increase revenue and gain a competitive advantage.
Verified Market Research is a research and consulting company that provides reports, in-depth market analysis, trends and forecasts to individuals and companies looking to shape their strategy, drive growth for their organizations, and inform decision-making all while saving time and resources. VMR wanted to enhance the reports they provided by moving away from static PDFs while leveraging their recent investment in AWS. Their most important need was to convert one-time visitors to recurring users and grow their customer bases with a new offering. All of this had to be done by non-technical business users, as they did not have excess resources to address the current issues. The only solution white label reporting solution that could address all their issues and provide added benefits was Toucan.
Toucan had all the features VMR was looking for. A Low-code platform made for business users that VMR’s small team can build white label reports on with no technical know-how. An easy integration to AWS so they can leverage their data. Engaging dashboards that grab the user's attention and gave them actionable insights to make data-driven decisions. The best part was that VRM was able to integrate Toucan, build dashboards and roll out white label reports in less than 2 weeks.
Within a few months, VRM realized that they had increased sales closures by 10% because they had a competitive edge in the industry thanks to white labeled reports. There was great feedback from clients on the ease of use of the reports and the wow factor that came with it. VRM ended up reducing the time spent explaining data by 2. This lets them focus on providing better customer service and increasing the efficiency of their product.
02. Debt market company build trust with white label reporting
Mid-sized companies primarily use white label reporting to stand out from the competition. This is exactly what Onbrane did. Onbrane is an innovative technology-based solution for the debt market. Onbrane covers the debt needs of corporate, public and financial institutions with standardized and semi-standardized products. Onbrane connects all the players in the market from insurers and investors to brokers and paying agents.
Onbrane was looking for a white label reporting solution that could aggregate data from multiple sources and create reports that were easy to understand for debt staff of all technical levels. They also wanted the reporting solution to be built and maintained by non-technical users so that the tech team could stay focused on the core product. The biggest problem they faced while evaluating white label reporting solutions was the intense security requirements they had to adhere by. This is when they found Toucan.
Toucan had all the features Onbrane needed and more. Data security is Toucan’s highest priority. Toucan is one of the few analytics companies that complies with data privacy laws in Europe, USA, Canada and most of the world. Toucan’s data storytelling platform was built so that non-technical users could have access to data that is generally kept in ivory towers. Using Toucan, Onbrane’s business users were able to build out white label reports and dashboards without requiring technical support. They were able to integrate multiple data sources with Toucan’s connectors and produce the first version of their reports within 3 weeks.
The customer feedback was so immense for the white label reports created that Onbrane made Toucan the visual brick for their Machine Learning System. This is what Onbrane’s CPO has to say, “This solution is top of the game: we are very pleased to use Toucan every day.”
03. Enterprises
Most enterprises use white label reporting to save money and time in launching new features. This is what Deloitte financial services did. Deloitte financial services provide comprehensive, integrated solutions to the banking & securities, insurance, and investment management sectors. They aim to give each client a detailed view into their business health and cash flow. But their customers wanted a view not just into their company, but also the financial landscape. Their customers wanted to understand how everyone managed by Deloitte financial services was performing.
At this point, Deloitte had two choices. To build a reporting solution in-house to connect to their existing information, or buy a white label reporting solution. Deloitte decided to buy from Toucan. The decision came about because they realized that the staff, time, and resources that they would have to spend to create such an analytics solution would be 3 times more expensive than using white label reporting from Toucan. And even if they built the analytics in-house, they would be replicating already existing features and would not be able to provide something new and exciting to their client.
Deloitte launched industry landscape analytics within a month with the help of Toucan’s white label reporting. They saw an instant rise in customer satisfaction. The value customers got from the analytics was so high that Deloitte decided to launch it as a separate upsell service thus, creating a whole new revenue stream for them.
This just goes to show that white label reporting is useful no matter the company size. As long as you have customers who want analytics or a product that needs analytics, white label reporting from Toucan is for you.