Many A&E firms often find management reporting to be a much more difficult task than it ought to be.
Many practices that I speak to find it extremely difficult and time-consuming to pull even the most fundamental reports related to their business performance, such as:
- Cost of client or bid & proposal
- Business development conversion costs
- Company, department/cost centre or client profitability
- Financial growth
- Staff growth
- Employee utilisation
- Projects delivered on time
- Budget vs actual costs on projects in real time.
Being able to accurately report on these key performance indicators is important because if you can't, your business will struggle to improve. Having the ability to accurately assess your business is critical to forecasting and planning for success.
A lot of the difficulties A&E firms are experiencing when it comes to management reporting stem from the business system they are using. When A&E firms use a business management system that is not fit for purpose within a project and people based business or is not aligned with their key KPI’s and other management reporting requirements, they will encounter difficulties in reporting and will not have a true picture of their business performance.
The slideshare below highlights 5 tell-tale signs that your management reporting isn't working and also 4 steps you can take to get things back on track.
Review this slideshare to see whether your management reporting solutions are working for your A&E firm.