Management Reporting is used primarily by those within an organisation with a view of offering forecasting value to decision makers within the organisation.
In today’s ever changing economic environment, companies require broad, cross-departmental views of operational and financial drivers in real time. Additionally, it is crucial organisations gain control over financial reporting and disclosure processes to satisfy requirements of regulators, shareholders and other stakeholders.
Enormous challenges fall on finance managers shoulders to provide trustful and reliable reporting information, commonly from multiple sources and through the use of multiple spread sheets. Not only is a greater level of detail required, but the need for a speedy reporting process;
Common problems encountered in the management reporting process include:
- Inability to monitor the status and track strategy, budget or forecasting plans
- Performance gaps are not identified
- Inability to track budget versions
- Challenge of complying with regulator standards
- Consolidating data from multiple sources
- Maintaining data reliability and integrity
- Quick access to relevant data for management and statutory reporting
If you need more information on our Consolidation Solutions or would like to arrange a consultation, please feel free to email email@example.com or call us on 01 603 4300.