Business reporting - the heartbeat of a business | CPiO
Business reporting – the heartbeat of a business

Business reporting - the heartbeat of a business

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Business reporting – the heartbeat of a business

Daily Reporting

Following my previous blog about making money from your ERP implementation, I want to explain what I mean by ‘knowing the heartbeat of your business’.

Applying the principles I discuss here should take no more than 10 minutes each morning and should be part of your normal routine.

Reports can be delivered as e-mail alerts, which drop directly into your inbox daily, at a scheduled time. Personally, I recommend scheduling the email alert for first thing in the morning. This not only shapes the focus of the day ahead but also offers a quick reminder of the business pulse.

If while reviewing the reports any issues are identified, you must have someone investigate and respond to you as soon as possible. If you are not in the office every day then have someone summarise the report, or use occasions such as travel time to talk things through with an office-based colleague. Better still – view them on your smartphone. Many reports can now be viewed on certain mobile devices as standard if e-mail alerts are not implemented.

Reporting should be a ‘culture’ which is shared throughout the business. Sharing information and responsibilities is imperative in order to obtain maximum benefit. If you are obsessed with the reports and their results, your staff will soon follow.

If you are doing a lot of business and therefore invoicing, the work is a waste of time if you are not translating it into cash. With this in mind, the age analysis report is the most important report for any business. This quick summary of your reports will present an overview of performance across all areas of the business. And if this report is clean, then your business is undoubtedly maximising its cash flow potential.

Your organisations’ staff and partners must know that the business ‘culture’ is to invoice so that cash can be collected. By successfully reporting, your businesses efficiency and effectiveness can be successfully monitored.

The culture of reporting is central to the success of the business. It is what I describe as the heartbeat of a business.

Key areas that should be checked daily.
Cash Position
Cash position reports must show all your bank balances. It is important to know and recognise any increases or decreases in balance and know which transactions were processed.

Credit Control
Credit control reports present up to date debtors and creditors positions and if linked to cash positioning reports will provide a true view of cash flow and predicted future positions.

Sales Summary
Sales Summary reports show orders month and year to date and when used in conjunction with a sales order status report, can drive quick despatching and a daily feel of sales.

Daily receipt listing
Importantly check your Transaction Listing report daily, filtering to the previous day’s date and receipts. This should give you a feel for how much cash is coming in on a day to day basis.

Steven Kühn
Sage 200 Product Manager
steven.kuhn@cpio.co.uk

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