2016: Predictions for Management Reporting
1. Green is the new Black
More organizations will realize that charts need more than lines and bars, they need evaluations. As a result, we will see more focus on performance, and consequentially, results will be improved.
2. Less Excel Hell, more Cloud Data
People will realize that Excel is holding their management reporting process back. They will find ways to leverage the cloud to integrate multiple data sources.
3. Management Reporting Grows Up
With the right people in the room and a proven reporting process to follow, meetings become effortless and end with clear action items to ensure execution.
4. Project Integration not Isolation
Projects will be aligned with strategic goals. Leadership will not only see how they are doing, but they will see what they are doing to improve performance.
5. Celebrate Results over Surprise Results
You no longer need to worry about surprises in your quarterly results because all of your information will live in an up-to-date cloud that you can check on prior to the management meeting. Thus the only surprises you will have will be at parties.
6. Transparency AND Accountability
Your team can see clearly now – Your reporting process will make it easy to share data both internally and externally, creating more transparency for your organization. For those that are accountable, there is nowhere to hide anymore.
7. Manage The Process, Not The Data
In the past, owning the reporting process meant owning the report. Going forward, managing the process will mean sending out reminders and having people update their own results…online. You will create the report with one click.
8. Linked Data Trumps Big Data
Don’t be pressured to go with a big one size fits none application. Keep the specialist tools, but integrate the data into one management report with ease using APIs and SQL queries.