Beata Leyland
Former Financial Controller/ Business Owner
A well-constructed report is a fantastic tool, but has to be readable and understandable for your audience!
Reporting season ? Monstrous reports that nobody understands? Let me show you how we can MAKE YOUR LIFE EASIER
Intrigued ?
How to create a good report? Although a better question would be what is a good report?
1 Methodology is key!
If you don’t understand what are you doing there is not much need to create “an art for an art sake report “.
Ask as many questions as needed to understand where your data come from.
Based on which assumptions are they created? How are data extracted/ pooled out from the system?
Also remember if an executive/recipient wants a good, reliable report you will get all what you ask for, believe me.
Try to imagine yourself being a person using your report.
What kind of questions you would ask, what will be important ?
Reporting is an art of simplicity through figures.
2 Once you know what your data are, and potential traps (mismatch with forecast, sales figures etc) now is time to ask a fundamental question:
What for I prepare this report ?
If it’s to showcase trends in sales , such data should be the main focus.
Try to imagine yourself being a person using your report.
What kind of questions you would ask, what will be important ?
Reporting is an art of simplicity through figures.
The best “show off “ is accuracy not fancy buttons and functions.
Your report should be seen as something easy to read, easy to use ( if not instruction is needed ), and accurate.
Who is the recipient of such report ?
If the whole company, maybe the best report will be simple one. Maybe you should reach out to people from warehouse, if they will be the end-user to understand what they need.
How your work can help others is a key.
A well-constructed report is a fantastic tool, but has to be readable and understandable for everyone if this is your audience!
It’s nothing bad with using more sophisticated technology, functions, buttons as long as they have a reasonable justification.
If we use Microsoft Excel , they are few common root causes of mistakes in reporting
Commas and dots (easy way to miscalculate results)
Formulas which are not dragged or purposely skipped
Too many people using reports in edit mode
Formats (currency, date )
In order to start analysing data step 0 should be making sure all data are in order as an essential starting point.
As a company we have broad experience with external auditing of reports. Not only making old reports shiny and methodologically straight-forward but also reconstructing old approaches to new reality
Example 1
One of the companies wanted to know how a sourcing agent thinks, how data are collected, presented, and how the end-client uses them.
Goal was to develop a tool which can help small businesses with basic research and save time.
In order to start cooperating with the client it was crucial to understand the end-product, scope and vision. Based on all collected information I was able to prepare a simple, yet to-the-point case study which described step by step what is done, how small business owners think and what is important for them.
Additionally, I instructed the client about industry pain points so common mistakes can be omitted.
All to make sure tool will be a huge success!
Example 2
A different software from the user’s point of view.
The software is in development, and an honest review is needed before being introduced to the employees.
A review from someone who is not a part of company provides honest feedback, eliminates bias and brings new light.
Example 3
Do you have a business idea look to define your niche, market trends, or your ROI ? Reporting helps here to save you time and point into a right direction.
Example 4
Another project was a set of consulting sessions about a logistic path.
The goal was to understand how a person who supervises shipments know when goods arrived at the port.
Together with my client we went through the whole process from booking transport from the factory, through BOL, customs declaration and unloading documents at the destination.
My client built a whole process cycle using his own words which helped him to understand and retain all knowledge.
Most importantly -software is now in use!
Bonus ... If you survived till the end
A few years ago as a part of accountanting team I was in charge of this monstrous report which I was assigned to rebuild. Gosh, such a task it was… ( and between us, such a mess, too! )
Anyway, I did my absolute best but also tried to “show off” a bit to convince my supervisor that I am a perfect fit for such a task and I really know what I am doing.
My supervisor smiled seeing results and gave me the following feedback “Nice way to show off but I wonder if report is functional ? “ It was an on point comment.
ALL OF US TEND TO COMPLICATE ALREADY COMPLCATED ENOUGH REALITY , no worries it’s a hope also for YOU!