I'm preparing a series of articles for AccountingWEB that hark back to a very successful series several years ago when we asked a lot of finance managers, What is the ideal monthly management pack?
The articles obviously struck a chord, but after talking to a few accountants and software suppliers recently, I'm wondering if the management pack has been pensioned off in favour of more immediate, interactive approaches such as KPI dashboards, reporting by exception and giving line manager online access to "self-serivce" financial data.
Have these new-fangled techniques had much impact on your working life, or do you still rely on an Excel P&L summarising the monthly totals alongside budget targets?
I'd be interested in hearing feedback from all comers on any of the following topics:
- What factors have affected your approach to management reporting - for example CSR and reporting more non-financial info; meeting demand for more timely and sophisticated data (eg real time visibility of costs, margins etc)?
- What tools are you using - and does Excel still rule the roost?
- What are your tips and techniques for improving management reporting?
I'm looking forward to an interesting debate!