Recession Proofing Series – Reporting

 

“What gets measured gets managed.” – Peter Drucker

 

Imagine you’ve decided to drive to somewhere you’ve never been to before.  I’m going to pick Alesund in Norway (random but it looks amazing!).

Now imagine you’ve got no dashboard.  No idea of the time or date, the amount of fuel on board, the speed you’re travelling at or if the car is running properly.

And you’ve got no satnav.  No idea of where you are, compared to where you should be, the direction you’re travelling in or how long is left on the journey.

Are you heading in the right direction?  Do you have enough fuel left?  What is up ahead that you need to avoid?  Do you need to change the plans along the way?

You’re driving somewhere but have no feedback as to whether it could be done faster, more efficiently or with less stress & pain.

Now, if you’re not measuring your financial results and the key drivers of your business, you can’t properly manage them or implement meaningful improvement strategies.

Management reporting is the dashboard for your business.

 

Our Management Reporting Service

Our Management Reporting service helps you stay on track to achieve your goals, with monthly or quarterly Management Reports providing a snapshot of your results.

It ensures you take time out from working in your business to get perspective of your financial position and determine the best actions for improvement.

If you want to regularly monitor the key drivers in your business and your financial results to ensure you’re on track to achieve your goals, this service is essential.

 

How it works

You’ll attend an initial meeting, 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

Each month or quarter we’ll send your Management Report then follow up with a 15-minute momentum phone call to discuss your results and help identify areas for improvement.

 

Benefits of Management Reporting

By undertaking Management Reporting, you’ll:

• Establish Key Performance Indicators (KPIs) for your business and set achievement targets
• Receive a customised monthly or quarterly 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
• Create a benchmark to compare future results against
• Set aside time each month or qaurter to discuss your financial results
• 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

 

Get in touch

If you need help measuring your results and managing your KPIs, get in touch.