Process Improvements in Management Reporting

TAKEN FROM : Journal of Financial Studies & Research

Abstract
This paper illustrates how the process efficiency, the reporting relevance, reporting volume and the cost/benefit ratio of management reporting can be analyzed, benchmarked and improved. The proposed improvement process will be backed up with a case study and a survey made with 20 controllers and finance managers of manufacturing companies across Eastern Europe. The results of this survey were benchmarked with a peer group of companies based on a reference survey made by Deloitte Consulting across Europe. Based on the illustrated benchmarking process the weak areas of management reporting with major improvement potential could be identified. For these weak areas improvement recommendations are illustrated and outlined.

The paper closes with an outlook of how further optimization can be reached in a changed company set up using controlling shared service centers. The paper is expected to have high relevance for multinational companies seeking improvements in their management reporting activities.

 

 

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