When was the last time you had a surprise with a cash balance, cash availability receivables, inventory, a job and the list just keeps going. Did you go into fire fighting mode to put the fire out only to get swamped with the next problem?
When we interview our new clients we ask what processes they have in place for reporting and the frequency of this reporting. It is not a surprise any more to hear that this isn’t in place, or is in place but not followed, isn’t meaningful or I’m too busy to deal with it!
Every business has this issue and the opportunity to make this something that weekly can give management a barometer of where they are on what is vital for that businesses success. There are items that likely would look the same generally for a lot of companies coupled with specific reports that are necessary for the unique aspects of each company.
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