Background
Management reports for the company’s leadership were prepared manually in Excel and only once a month, as collecting and organizing the data was time-consuming. Comparing actual sales and financial data with forecasts and previous periods took at least 8 hours for one person, with a high risk of errors. Additionally, department heads frequently disputed the accuracy of the management reports, claiming, “These are not the correct numbers,” and presented their own versions of reports.
Our Solution
We implemented a management reporting solution that:
- Automatically consolidates all necessary components from different sources
- Validates data against predefined rules
- Calculates ratios and metrics
- Compares actual results with previous periods and set goals
- Displays business-specific management reports in an easily accessible format via the company intranet or BI software
- Allows for applying various filters, displaying results and KPIs (Key Performance Indicators) graphically or in tables
- Includes tools for detailed analysis when needed
Outcome
- Immediate availability of both departmental and consolidated reports
- Simpler and clearer management through metrics, trends, and visuals
- Disputes over data accuracy replaced by meaningful discussions
- More effective management decisions due to instant access to all critical business metrics in one place
- Freed up resources (8+ hours/month)
Why is this important?
Leadership can make the right decisions only when up-to-date, reliable, clear, and universally understood management reports are available. Faulty reports lead to stress, tension, additional workload, poor decisions, and unnecessary disputes. By implementing a management reporting environment, all drama around numbers disappears, allowing focus on what truly matters.