BDO NETHERLANDS - BDO Scope: Management Reporting
07 October 2016
Original content provided by BDO Netherlands
Management reporting is a complex, multi-stage activity which takes place in the context of other business processes and makes use of the multiple information systems that may have been provided for other purposes – general documentation, project management, financial control, email communication and business presentation.
Managers treat information from these sources as ‘harvestable, contextualisable data', which is combined, summarised and reinterpreted in management reports. There are a wealth of opportunities and plenty of scope for improvement in your organisation. Yes, even yours. I’m referring to all those larger and smaller areas where diversions and uncertainty are hindering your decision making process. Where your reports are being delayed. Where you have to manage using assumptions, which results in missed opportunities.
You’ll find opportunities for improvement in every company and at almost every level. Some will lie on the surface. Others will be more deeply embedded. More still will be found in better coordination between departments, in end-to-end communication and in the fine-tuning of your client processes. If you manage to dig this data out of your organisation and unlock that knowledge, the benefits will be there for the taking. That’s what this issue of BDO Scope is all about: how to optimise knowledge flows within your own organisation, through management reporting, financial and tax reporting and process mining.
We’re kick-starting this issue with valuable insights from some of the leading experts in the field and we follow up with inspiring, practical examples from large and complex organisations that are turning in a markedly better performance thanks to excellence in reporting.