Better information, better decisions
The accounts department in any organisation gets first-hand information about the financial health of the organisation. The information available must be communicated to all the stakeholders in the manner that educates and informs them. The information can be common but the manner in which different stakeholders look at it varies. While investors want to know the return on their money, the customers are interested in the products and services, the suppliers in payments, the employees in the growth and payouts. The financial information will be the same the way but it must be grouped and presented differently. Proper segregation of data and placing them in required formats as per usability of various stakeholders will result in avoidance of duplication of efforts and will in turn trigger efficiency.
Lean reporting results in meaningful reporting.
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