Got the solution from Epicor.
It looks like the reports were not deployed at the
10.0.700 version which is something that is not clear in the instructions.
Please follow these steps to re-deploy the reports at both the Base (10.0.700)
version and then again at the 10.0.700.1 version. Let me know how it goes.
1) Go to Application Server Configuration
2) On the Application Server Settings tab, set the Apply
Update value to Base
3) On the Application Server Settings tab, copy the name
of the app server to the clipboard
4) On the SSRS Configuration tab, paste the app server
name into the SSRS Root Folder field
5) Confirm that the Create DB checkbox is unchecked,
Import Reports is checked, hit OK
6) Go back to the Application Server Settings tab
7) Set the Apply Update value to 10.0.700.1
8) Repeat steps 3 - 5