Hi ,
My suggestion would be to look at the data collection ; starting with the reports is starting at the inefficient end , since a report is an output.
When streamlining a process , always start at the input end , because if this is not done , then inefficiencies which are present will just add up , and removing an inefficiency at a later stage is always more costly than removing it at an earlier stage.
If all of the data is first listed , giving the name of the data item , the source from where it originates , the recipients who are likely to benefit from it , and the format in which they would like to receive it , you can analyse this , and arrive at the bare minimum number of reports which will satisfy all the recipients.
You need to discuss with every data originator and every data recipient to see what are their actual needs ; a lot of reports are legacies , and in quite a few cases , especially where IT is concerned , recipients might like to change reports to suit their purposes , but have been told by their IT departments that this is not possible. Thus , discussing with both the sales people and the managers is a good way of weeding out the bad , and getting all the stakeholders involved in change.
Only after all this is done , should you start with where this central repository of data can or will be stored , how data entry can be done.
Report generation is the last stage , and if the earlier stages have been done properly , should be painless.
Narayan