What is reporting?
The primary goal of reporting is to create and deliver information relevant to making management decisions.
It is vital to provide quality analysis and information about the performance of your business and the health of the company. Without reporting, you don’t know where your company is going and whether it can maintain a profit in the long run.
An important factor is also the setting of long-term goals and their comparison with reality, and the timely adaptation to the current situation.
It is an integral part of the company for making decisions and setting up the company’s operations.
Reporting is performed through the compilation and control of information within a specific area, such as finance, sales, operations, inventory control, or any other business area in which performance is monitored and measured.
Reporting is an integral part of the company for making decisions and setting up the company’s operations.
What the report focuses on
The report focuses on financial and non-financial information for current data, data for the previous year, plans and goals, and forecasting future results.
This information is provided on a regular monthly or ad-hoc basis (as required by management).
Goal setting and KPIs
It is important to set what goals you want to pursue and who is the recipient of this information.
For this reason, it is necessary to define the KPI (Key Performance Indicators) that the report will contain.
If there is also a plan, it is necessary to monitor its deviations from reality in the report.
Types of reports
- Regular (daily | monthly | quarterly | annual)
- Irregular (according to the current requirements of the client)
- By recipient hierarchy (Management level)
Reason for reporting
- Product inspection report
- Performance control
- Business and marketing report
- Checking the plan
- Development forecasting
- Inventory reporting
- Market analysis
- Customer analysis