Management Reporting

It is easy to fall into the trap of thinking that Management Reporting is just about 'doing the monthly accounts'.  Although our background is in accountancy too, we recognise that it isn't all just about 'counting the beans', or about reporting what just happened.

Management Reporting should be purposeful - it should, in the best traditions of EPM, provide useful information that enables targeted action.  To that end, it needs to be

  • forward-looking, not just retrospective - which is why forecasting is such an important element of the process
  • insightful - it needs to answer the why, not just the what.  That almost invariably means it must tie non-financial metrics together with the financials, and provide well-constructed exception reporting based on appropriate performance indicators
  • timely - the best report in the world is useless if it arrives too late to help inform a decision about what needs to happen, not just inform a lively discussion about what did happen
  • good enough - in support of being 'timely', information needs to be just accurate enough to help make appropriate decisions. Materially correct information available when it is needed is better than precisely correct (whatever that means) information that is too late to be useful

To do Management Reporting well needs good systems, good processes and good people.  It also needs to be looked at in the context of the surrounding processes above, below and next to it - statutory reporting, consolidation, budgeting and forecasting, cost allocation etc.

If it sounds like we're speaking your language, Please contact Nigel Dahl through LinkedIn using the button below, or call him now on +44 (0)7799 664165.

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Who's behind epmgurus?

Nigel Dahl

Nigel Dahl,

Managing Director of epmgurus, brings 30 years of diverse experience to bear in helping organisations and teams through change – of size, structure, systems, management or ownership.

Nigel has run, advised, supported or worked with Finance functions from one-person operations up to globally dispersed Finance departments of several thousand people. He knows what good (and bad!) looks like.

View Nigel Dahl's profile on LinkedIn

What is EPM?

Enterprise Performance Management (EPM) is a broad term covering any business process that seeks to improve performance through a continuous loop of data collection, reporting, analysis and, most importantly, informed and targeted action.

In practice, Finance EPM is generally considered to cover at least Strategic, Financial and Operational Planning, Budgeting and Forecasting, Management Reporting (MI), Financial Consolidation, Statutory Reporting, Profitability and Cost Management, including Cost Allocation.