Management and board reporting
The quality of management information is critical to deliver the best possible basis for decision-making to business managers. Leading companies are already starting to confront some fundamental issues, such as:
- Do we have the right information at the right time to run the business?
- Is too much time spent producing the numbers rather than gaining real insight?
- Are our performance measures transparent? And how can we clarify accountabilities for performance management across the business?
- How can we align rewards with performance to drive the right actions?
- How can we develop a performance language that fosters non-threatening analysis and discussion of business issues and opportunities?
Information isn't management information until it is actually used by decision-makers. To ensure that relevant information and insight drives actions at the operational front line, there are some critical steps that can help instil a culture of performance management:
- Combining high quality financial and nonfinancial information
- Generating insight
- Clarifying accountability
- Aligning executive behaviour
- Driving front line performance
Our recent work with clients points to the conclusion that significant rewards await companies that take steps to achieve such a transition ― see the insights from our survey below
Of further interest
Related challenges
- Making smarter risk decisions
- Strengthening governance and regulatory compliance
- Corporate reporting improvement
- Managing people