Reporting
Reporting is the process a company goes through to collect, illustrate, measure results and convey the meaning of performance data. There are many different types of reporting:
- Managerial reporting
- Disclosure reports
- Annual reports
- Quarterly reports
- 10K and 10Q reports
- Statutory reports
- Sales reports
- Financial reports
- Performance reports
In the context of the close-to-disclosure process, financial reports are created after the consolidation process from consolidated figures.
It’s here that reporting issues arise. Reports often require the collection of data from numerous areas of the organization and also often involve multiple contributors. It’s because of missteps in these areas that cause reporting errors and material weaknesses. Commonly, these errors manifest in the form of manual input errors, miscommunications and ineffective ways to sharing information and tracking communication. When reporting processes are automated however errors are significantly reduced. Automated capabilities that enhance reporting include: a single version of updating data, support for multiple users, a collaboration system that tracks changes and communication between contributors, and a workflow that enables report managers to track progress, see changes, and manage potential bottlenecks. With these tools, the report creation process runs more seamlessly and accurately.
Discover how CCH Tagetik Performance Management Software delivers:
management reporting analytics reporting disclosure management