KB20230000/01: Best Practice Processes for Reporting

Reporting:

• Ensure stakeholders can access data throughout the month, as this might reduce the number of questions on or after month-end.
• Ensure all your reporting comes from your ERP solution. A pre-defined format should simplify the process. Each report must have a unique purpose, refrain from having a single report cater for too many purposes. If a report is manually compiled in Excel more than once, then you should have this report written in your ERP solution.
• Are you delivering insights to various business leaders and division heads throughout the month and post month-end. The days of only delivering Financial Management Reports that only the CFO can understand has passed. Many important aspects of the business can be reported upon from the ERP system.