The phrase “The numbers always matter” underscores the importance of financial metrics in evaluating an enterprise’s health, sustainability, and investor wealth creation. Financial performance is tracked through various reports, including General Purpose Financial Statements (GPFS) prepared according to standards like IFRS or US GAAP. These reports guide external investment decisions. However, internal stakeholders within the enterprise also need tailored financial information for specific purposes.
Enterprise Performance Reporting, or Management Reporting, addresses this need by providing more frequent, purpose-built reports that offer insights tailored to different internal audiences. In the BFSI sector, these reports focus on operational segments such as product lines, geographical areas, and departmental performance, aiding in the Financial Planning and Analysis (FP&A) process through comparisons of actual performance against budgets and forecasts.
In today’s competitive business environment, the emphasis on timely and actionable data has intensified. The adage “Time is Money” has evolved into “Timely Data is Money,” highlighting the critical role of timely performance insights in maintaining competitiveness and relevance.
