The Financial Controller and CFO's Toolkit, 3rd Edition

Chapter 19Reporting Performance Measures

OVERVIEW

Reporting performance measures must be designed to accommodate the requirements of the different levels in the organization (board, senior management team, middle management, and the various teams). KPI reporting needs to be performed 24/7, daily or weekly, as appropriate to support timely decision making. Reporting other measures (result indicators and performance indicators) can happen less frequently. This chapter displays some better-practice formats that will help speed up this vital step.

There is a major problem with the reporting of performance measures. The report writers often do not understand enough about performance measures, report monthly, which is far too late for prompt action, and are often unaware of the science of data visualization.

I recommend the reader follow Stephen Few's work,¹ which can be accessed from his website (www.perpetualedge.com) and his three bestselling books on data visualization (see Chapter 7).

The reporting performance measures must reflect the four types of measures used (see Chapter 19) and accommodate the requirements of the board, senior management team, middle management, and the various teams.

REPORTING THE KPIS TO MANAGEMENT AND STAFF

Reporting measures to management needs to be timely. As mentioned previously, KPIs need to be reported 24/7, daily, or, at the outside, weekly; other performance measures can be reported less frequently (monthly and quarterly).

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