Management reporting is common and, to some extent, indispensable in enterprise reporting. These are very useful as they provide corporate leaders with accurate data and detailed management conditions, making smarter decisions and improving strategies. In this article, we’re going to introduce the what, why, and how of successful management reporting and provide step-by-step solutions for you. After reading the whole passage, you’ll make it clear what essential practices contribute to a clear management report.

What is Management Reporting?

Actually, management reporting is information given to the company’s decision-makers to inform them of the business performance. By disclosing the relevant data from various departments, management reports provide insights into how the business is going and where there are opportunities to improve.

This is an example of management report to monitor the purchasing.
from FineReport

Unlike financial or accounting reports that only focus on financial data, management reports based on the business’s specific management appeals have a wider range of data sources. Also, it is optional for the company to choose to make a management report or not, and you can make them in the way you like. But making them is always helpful to identify where the business stands and where to go next.

Successful management reporting is supposed to present all the necessary information in an understandable and clear way.

Why You Need Management Reporting?

Management reporting provides detailed and valuable information that can help your business grow and optimize, so that leaders could know the performance of each segmentation clearly. Through solid data, they could discover the problems in time and make instant adjustments.

Also, they could improve and enhance communication among colleagues according to the reporting. Without management reporting, the leaders have to search for target information from different reports like human resource reporting, financial reporting, and so on, which is time-wasting and inefficiency.

In addition, they would lack the necessary indicators to help judge the business’s overall performance. While to the employees, management reporting indicates their individual performance to their leader. It looks like a supervision mechanism and could boost their engagement, inspiration, and motivation.

The ultimate goal of here is to help decision-makers grasp the business’s situation and make necessary adjustments in time. On the one hand, it helps prevent potential problems, both the business and employees. On the other, it’s a good helper in optimizing the company.

Different Types and Examples

By virtue of different purpose, management reports can be divided into various types. To show you what I mean, here are some examples.

Instead of traditional spreadsheets, the dashboard is to collate and visualize financial data. By accurately mastering the current situation and forecasting the future, you can make the best decisions and avoid business crises.

  • Financial Management Dashboard
Profit center dashboard is particularly designed for the financial management in the company
Financial Management -from FineReport
  • Production Management Dashboard
Manufacturing command room dashboard is particularly designed for the production management in the company
Production Management -from FineReport
  • Marketing Management Dashboard
This is an example for marketing management.
Marketing Management -from FineReport

How to Write Management Reporting?

Generally speaking, there is no fixed format on management reporting, and you can include relevant elements based on the management demand of your company.

However, in practical, management reporting usually covers financial and operational performance like budget, cash flow, staff productivity, project profitability, and so on. Because these data could reflect and track the key performance indicators of the segmented departments and staff. Thus the officers could make judgments of the overall situation of different departments and make data-driven decisions.

With the goal of maximizing the efficiency of your business, we strongly recommend that you follow the three stages for management report making.

  1. As an initiative, you should first clarify which indicators the manager hopes to know before making reports.
  2. Second, list all the information you have collected and logically sort them.
  3. Then the third stage is to start designing the report with your tools.

Here, we have also listed some key points that should be paid attention to when designing reports.

Key Factors of Successful Management Reporting

  • Make the objectives, key results and KPIs clear to the target audience: in usual, there’re more than 1 leaders in the business and they take charge of different departments, so you should choose the targeted indicators and data to the different leader and make sure you’re showing what they want to know.
  • Master data visualization skills and make good use of charts: data visualization is a good way to show your data clearly, the leader could feel the wave of the data, master the situation and make corresponding strategies. Making good use of charts could make your management reporting more professional and understandable.
  • Provide real-time data: real-time data that aligns with the indicators you show is very important. Under normal conditions, you need enough time to make your reporting and this will lead to a time gap when the leader gets the data, which is likely to cause some misleadings and affect his judgment on the real situation. So the best solution is to provide your leader with real-time data to avoid the information gap.
  • Taking care of the mobile reporting presentation effect: you should be aware that leaders are usually busy on their business trip, so that will be excellent if you could present your reporting on their mobile phone, enabling them to find problems anytime and anywhere, and exert management pressures, to promote the business.

Management Reporting With FineReport

FineReport is an easy-to-use reporting software. We believe everyone could make impressive reports and dashboards. We offer solutions for management reporting. With FineReport, it is easy to approach.

  • Fast data integration from multiple sources: FineReport supports all mainstream databases. Users can combine data from multiple data sources and enterprise systems with just one click and use these data to comprehensive analyses. Also, FineReport will provide you with real-time data, you don’t need to worry about the information gap.
  • Cool data visualization: FineReport provides 19 categories and over 50 styles of self-developed HTML5 charts with cool 3D and dynamic interactive effects, which could give you a powerful visual experience.
Dynamic visual effect can give management report users more friendly experiences.
  • Convenient mobile BI application: FineReport has a matched mobile app named FineMobile. FineMobile supports business performance monitoring and data updating at any time any place and on any mobile device. Readers could annotate with comments on mobile.
From FineReport

If you are interested, just download FineReport and have a free trial.

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Key Takeaways

  • Management reporting is crucial as it provides managers with accurate and detailed management informations, which helps them make smarter decisions.
  • Based on different goals, the production and content of the management report can be slightly different. But in general, they need to follow some principles.
  • WWe have given three steps to make management reports, of which identifying goals and key indicators are the most important. In addition, we recommend FineReport as an efficient tool to improve your report production.

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