You and your management team are making decisions and doing the unbelievably hard work every day to grow your business profitably. Every day is focused on getting better and playing the game of business to win.
That’s why it isn’t smart to demand anything less than fast and accurate monthly financial reporting from your accounting and finance function. You and your team need straightforward feedback so you can evaluate your results vs. plan.
You need to be able to hold everyone on your team accountable for results (or lack of results).
The smart way to do that is to compare what your team has been tasked to accomplish (financial goals) with what is actually accomplished from a financial perspective.
Slow and inaccurate financial reporting creates problems
Slow and inaccurate, or incomplete, monthly financial reporting makes it impossible to link business decisions with actual financial results.
- It's like pouring vinegar in a glass of expensive red wine.
- Or building a beautiful house then slapping an ugly paint job on it.
- Or creating a beautiful rose garden then letting the weeds grow to six feet tall where no one can see and admire it.
It’s just not smart. (And it can kill you in business.)
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