The reporting built into most systems is geared towards a very tactical summarization of the data that a particular system contains, such as a Job Cost Report or a Bid Take-Off listing.
Prioritized, Actionable Information
Your various systems all contain a lot of data but it is the reporting that turns these massive amounts of data into prioritized actionable information. Getting this information into the right hands at the right time is what truly drives results for the organization.
“All intelligent people given the same information will generally come to the same conclusion.”
– Jack Welch, Retired CEO of General Electric
Take your business to the next level by designing Key Management Reports that focus everyone’s attention appropriately. We approach management reporting by focusing on 4 key areas, then designing and building reporting systems that support specific functions and levels of management within the company.
- Exceptions: Many of the things that “go wrong” can be found within the data your company already has. Design reporting systems that mine for exceptions such as missing change order budgets, past-due RFIs, missing journal entries, take-off quantities that are outside of particular metrics, etc. This will improve your operations as well as the quality of all other reporting.
- Integrated Systems: Often the best information and exceptions comes from looking at information from multiple systems; for instance tying together project pipeline information from a CRM system to WIP run-off from the Job Costing system in order to create a manpower forecast.
- Forecasting: There are no crystal balls for predicting the future but over time you can build a lot of logic specific to your business into reporting tools that allow you to look at probably future performance driving better decision making. Examples include a P&L or Cash Flow forecast based on your overhead budget, work-in-progress and project pipeline or the forecasted cost at completion on a project based on current production rates.
- Automation: Designing systems so that particular reports are produced and distributed on a regular schedule helps align everyone on a team around an operating rhythm. We often focus on a “Cascading Delivery” where exceptions are dealt with first before higher-level management reporting is distributed.
Few things will align your team and drive results more than the process of designing, building and utilizing a great management reporting infrastructure.