6 steps to designing an awesome reporting blueprint that kicks-ass!

June 14th, 2019 Posted by accounting, alastair, blog 0 comments on “6 steps to designing an awesome reporting blueprint that kicks-ass!”

written by alastair barlow [blog]

Over the past 20 years, I’ve seen the good, the bad and the ugly of reporting. There’s one theme I see time and time again; Finance teams produce what they think is relevant and stakeholders don’t really value what they are given. There is a huge mismatch between the two. But why?

Well, it comes down to expectations management and communication, or in too many cases, a lack thereof!
At flinder, we have a different approach. A very simple and basic fix to this – ask stakeholders what they want and deliver it. My view is that finance should not only be supporting the business (and certainly not only providing basic financial information) but really helping to drive and deliver the strategy.
Below is the approach we adopt for both our finance function clients and our consulting clients, and ultimately transform their reporting into something that’s highly regarded and essential to run their business.
When describing their revised reporting, Mark Henderson, Chairman of the New Craftsmen commented:
“We see this as hugely, hugely valuable thing for us, we literally could not operate without these measures in place.”
So how did we transform this for Mark and many others? We adopted our Reporting Blueprint approach which really engages the business, gets them excited and delivers something that’s valuable to them and the business.

 

Now, this is just the start of the reporting journey; discovery and design, but ultimately, once it’s developed and deployed into the business it delivers greater insight on which key stakeholders can make much better-informed decisions.