9 in 10 finance teams generate useless reports, and yet management reporting is Finance’s best opportunity to promote financially informed decisions.
Many finance teams think that real-time reporting will fix things, but the better way forward is to make reports more relevant.
To improve data relevancy, Finance should focus on two key areas:
- Creating insightful reporting: Leading teams don't deliver precise and definitive recommendations, but rather they disrupt conventional wisdom, illustrate financial trade-offs, and anticipate decisions.
- Improving forecasts: Leading teams use rolling forecasting to provide greater visibility into future outcomes and better identifies risks and opportunities.