Top Management Reporting Survey Are you realizing the full potential of your management reporting?

Transcription

1 Top Management Reporting Survey Are you realizing the full potential of your management reporting?

2 Content I. Your personal vision on top management reporting II. III. IV. Value of the top management reporting & reporting process Reported content Report layout and reporting harmonization V. General questions

3 Introduction How satisfied are you with the existing top management reporting in your company? Participating in this survey will help you to critically reflect the success of your top management reporting. Furthermore, the aggregated results of this survey may help you identify to what extent other companies successfully utilize top management reporting in steering their businesses. In the following we will refer to top management reporting only, i.e. the reporting which is done to provide the top management with information needed for decision making and influencing the success of your company. The reporting in scope is typically sent to an executive s audience (e.g. Executive Committee, Board of Directors, CEO, CFO, Vice President, etc.). Your answers will be kept confidential. Publications based on the data of this survey will only show aggregated results and do not permit conclusions about single participating companies. Participants will receive an exclusive preview on results of the survey and will be offered the opportunity to get benchmark against the full database. To bridge the waiting time for the survey results, we encourage you to already read the publication Darling, we need to talk! Communication by management reporting. Top Management Reporting Survey Are you realizing the full potential of your management reporting? 3

4 I. Your personal vision on top management reporting In this section we would like to find out more about your personal vision on Top Management Reporting. Question 1 Ideally, top management reporting should be... comprehensible.... focused on key measures.... risk oriented.... strategy driven.... automated.... flexible.... reliable.... cross functionally harmonized.... process efficient.... timely. Agree Neutral Dis dis Question 2 Would you use any other characteristic to describe your top management reporting vision? 4

5 II. Value of the top management reporting & reporting process Now, we would like to ask you about the status quo in your company Question 3 Top management reporting is a key communication tool in our company because it... provides transparency and early warning signals.... drives decision making.... encourages concrete actions based on the results.... drives strategy execution. allows assessing the risks we are exposed to.... enables internal benchmarking. Agree Neutral Dis dis Question 4 To what extent do you with the following statement? Today, the impact of our top management reporting on the success of our company is Very high High Neutral Low Very low Question 5 & 6 Please indicate which statements appliy to your organization. We are aware of the costs of our reporting. We have examples where the costs of top management reports exceed the benefits. Yes No Question 7 The value of our top management reports depends on the relevancy of the covered information to the audience. the right level of detail. Agree Neutral Dis dis Question 8 Please assign a percentage value (totaling 100%) to the time spent on the four following categories: creating reports Percentage value (%) [Sum 100%] quality assurance analyzing figures and acting upon them creating ad-hoc reports outside of standard management reports Top Management Reporting Survey Are you realizing the full potential of your management reporting? 5

6 Question 9 Our reporting process steps are clearly defined. documented. are followed as documented, e.g. deadlines are adhered to. Agree Neutral Dis dis Question 10 Our top management reporting effectively reacts to a changing business environment. Agree Neutral Dis dis Question 11 Data quality (incl. completeness, timeliness) of financial statements and KPIs is regularly monitored according to a standard process. Monitored data quality is linked to personal incentives. Agree Neutral Dis dis Question 12 How do you evaluate the potential for improvement with regards to the quality of your top management reports in following areas? reporting processes reporting content (e.g. KPIs chosen, link with strategy) reporting systems information quality presentation quality delivery date Very high High Medium Low Very low Question 13 How would you rate your top management reporting in terms of: Quality Effort required Speed of delivery Impact on decision making Very high High Medium Low Very low 6

7 Question 14 The improvement of our Top Management Reporting has a high priority. Agree Neutral Dis dis Question 15 Do you have any other comments on the section value of top management reporting & reporting process? Top Management Reporting Survey Are you realizing the full potential of your management reporting? 7

8 III. Reported content Question 16 Please assign a percentage value (totaling 100%) to the weight of following information areas covered in your top management reports: company financials (financial statements) Currently percentage value (%) [Sum 100%] Where would you like to be in 3 years? percentage value (%) [Sum 100%] financial ratios (e.g. covering Profitability, Asset Efficiency) market analysis, portfolios & competitors work force & talent innovation strategic initiatives running projects / initiatives others (please specify): Question 17 & 18 Yes No Are you covering sustainability information (longer term economic, ecological and social impact of company behavior) in your top management reports? Do you use comments in your reports? Question 19 To what extent do you with following statements? Steering sustainability indicators has an impact on our long-term economic success. The reported sustainability indicators are covered by our standard reporting processes. The selection of sustainability indicators reflects their impact on company value. The selection of sustainability indicators reflects articulated information requirements of external stakeholders (e.g. customers, investors, government). Agree Neutral Dis dis Question 20 Percentage value (%) Which share of sustainability indicators from management reporting is also reported externally? 8

9 Question 21 To what extent do you with following statements? To ensure a uniform definition and a common understanding we have sufficiently detailed documentation of... the indicators (e.g. definitions, calculations).... the ownership of the indicators (e.g. Sales, Finance).... analysis structures (e.g. by product, by countries).... the company s accounting & controlling guidelines....governance procedures for defining and releasing indicators/measures. Agree Neutral Dis dis Question 22 The delivery departments have to deliver the same set of data/information several times Agree Neutral Dis dis Question 23 Please assign a percentage value (totaling 100%) to the weight of following focus areas covered in your top management reports: Cost Currently percentage value (%) [Sum 100%] Where would you like to be in 3 years? percentage value (%) [Sum 100%] Pricing Revenue Value creation Other (please specify): Question 24 Do you have any comments to the section reported content? Top Management Reporting Survey Are you realizing the full potential of your management reporting? 9

10 IV. Report layout and reporting harmonization Question 25 Please assign a percentage value (totaling 100%) to the weight of following views covered in your top management reports: Legal Entities Currently percentage value (%) [Sum 100%] Where would you like to be in 3 years? percentage value (%) [Sum 100%] Functional / Departments Geographic / Markets Customers Products Processes / Value Chain Strategic initiatives Other (please specify): Question 26 To what extent do you with following statements? Our top management reports have a logical and clear story line. Our report layout is well conceived, consistently applied and avoids distracting elements. Agree Neutral Dis dis Question 27 In our top management reports we apply company-wide... standardized abbreviations and names. standardized visual elements (e.g. graph types, colors). Agree Neutral Dis dis Question 28 We use the following kinds of reporting formats standardized print reports.... online dashboards.... manually created spreadsheets (e.g. MS Office Excel).... OLAP analysis (slice & dice). Other (please specify): In use Planned Not needed 10

11 Question 29 & 30 In use Planned Not needed Our top management reports can be viewed on mobile devices (e.g. in browser). Our top management reports can be viewed on specific apps for mobile devices. Question 31 Our report users are satisfied with the usability of the reporting tool(s) available in our company. Agree Neutral Dis dis Question 32 Our top management reports are automatically generated and not compiled manually. Other departments (e.g. Sales, HR) use the same reporting system for function specific reporting. We use the same top management reporting system on group level as well as within the subsidiaries. Agree Neutral Dis dis Question 33 Do you have any comments to the section report layout and reporting harmonization? Top Management Reporting Survey Are you realizing the full potential of your management reporting? 11

12 V. General questions Finally, we would like to ask you some general questions regarding your company. Question 34 What reporting cycles exist in your top management reports? (multiple answers allowed) Daily Weekly Monthly Quarterly Yearly Ad-hoc Question 35 Please enter an estimated number or range. How many reporting line items (indicators) do you have in your top management reports? How many report pages are created every month in your company? How many days after period closing are the final top management reports sent out? How many FTEs are dedicated to the top management reporting process? Estimated number or range Question 36 Please indicate your total annual turnover (in Million )? < > Question 37 Yes No Is your company capital market-listed? 12

13 Question 38 Check the box that describes the sector your company is operating in. Consumer Business & Transportation Air Transportation Consumer Product Companies Rail Transportation Retail, Wholesale & Distribution Road Transportation Tourism, Leisure & Hospitality Energy & Resources Mining Oil and Gas Power & Delivery Water & Waste Management Financial Services Banking & Securities Insurance Investment Management Life Sciences & Healthcare Health Care Providers Life Sciences Manufacturing Aerospace & Defense Automotive Industrial Products Process Industries Public Sector National Government Not-For-Profit Public Transportation Real Estate Brokers, Charted Surveyors Construction Companies Developers Owners, Operators of Commercial Properties Real Estate Investment Funds and Managers (RI) TMT Media Technology Telecommunications Question 39 Please name the country where your Headquarter is located. Belgium Great Britain Netherlands France Denmark Austria Switzerland Poland Germany Norway Sweden Other (please specify): Finland Ireland Italy Greece Hungary Bulgaria Spain Portugal Bulgaria Croatia Czech Republic Top Management Reporting Survey Are you realizing the full potential of your management reporting? 13

14 Question 40 Is your company a holding, a subsidiary company or an individual business? Holding company Subsidiary company Individual business Public sector Other (please specify): Question 41 Could you please indicate your: Name: Your personal data will be treated confidentially. Company: address: Question 42 Please name your current position. CEO / chairman CFO / finance director / commercial director CIO Head of the management reporting department Employee of the management reporting department Head of the controlling / accounting department Employee of the controlling / accounting department Head of the IT department Employee of the IT department Other (please specify): 14

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16 Key Contacts For more information, please contact: Eric Callewaert Partner, Finance Transformation Nicolas Van Houtryve Director, Finance Transformation, EPM Thomas Cardoen Director, Finance Transformation, EPM Ewald Stas Senior Manager, Finance Transformation, EPM Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence. This publication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the Deloitte Network ) is, by means of this publication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte Network shall be responsible for any loss whatsoever sustained by any person who relies on this publication. January 2014 Deloitte Belgium Designed and produced by the Creative Studio at Deloitte, Belgium.