Management Reporting - Outline and Benefits
Why we developed this service
“What gets measured gets managed.” – Peter Drucker
If you aren’t measuring your financial results and the key drivers of your business, you can’t properly manage them or implement meaningful improvement strategies. The better you understand your business, the easier it will be to make more money or reduce your working hours.
Our Management Reporting service will help you stay on track to achieve your goals. Your monthly Management Report provides a snapshot of your results, forcing you to take time out from working in your business to get perspective of your financial position and determine the best actions for improvement.
Having accurate and up to date information to base your decisions on is key. We want to help you to better understand and interpret your numbers and enable your success.
Who should use this service?
What is involved?
You’ll attend an initial meeting, lasting no longer than two hours, where we’ll:
- Determine the five most important Key Performance Indicators (KPIs) for you to measure
- Create your custom monthly Management Report
- Ensure you understand how to interpret your management report each month
- Identify the best way to collect key data for your report
When should I start?
Call us now to discuss our Management Reporting service.
Benefits of Management Reporting
- Establish Key Performance Indicators for your business and set achievement targets
- Receive a customised monthly Management Report to regularly measure your performance
- Obtain a visual dashboard summary of multiple reports that enables you to quickly interpret your results
- Improve your financial awareness so you know what you should measure and how to measure it
- Implement best practice monitoring to enable better decision making
- Create a benchmark to compare future results against
- Set aside time each month to discuss your financial results with a senior team member
- Measure your actual results against your targets
- Develop the discipline to prioritise reviewing your results each month to identify areas for improvement
- Understand the factors that impact your results so you can develop strategies to maximise your results
- Set the direction of your business and key areas to focus on
- Identify important trends in your business
- See the impact your actual results have on your targets