The Management Reporting bridge
The
Management Reporting bridge helps firms monetise their Management Reporting tool and provide real value via their Management Reports. This service ensures clients regularly and consistently monitor their results, have better conversations about their numbers with their accountant, and set improvement strategies.
Important info
The
Management Reporting service should be delivered by a Client Manager or Senior Accountant, allowing them to upskill and prepare for facilitating more Business Development and Advisory services in the future.
To access the
Management Reporting bridge, go to Navigation panel > 
Bridges
> Management Reporting bridge.
Understanding the Management Reporting process
The Management Reporting service begins with an initial meeting to finalise the client's Management Report template. You'll then generate the report each month from your reporting software and send this to your client via the portal with a brief commentary. One week later, the Client Manager will have a 15-minute Momentum Call with the client to discuss the report. This ensures clients understand what they should be measuring and provides the discipline for them to review and make incremental changes to ensure they achieve their goals.
- The Process Guide outlines best practice use of the content in the Management Reporting bridge; click the Download Process Guide button in the top right-hand corner to view this guide
This service is ongoing, continuing monthly until the client chooses to cancel. We recommend only offering a monthly payment option so the service can continue without the need for an annual invoice.
Tip
Additional coaching is recommended for your client to fully utilise their management reports.
Note
Ensure you review the
Process Guide prior to using the content in the bridge.
Marketing the Management Reporting service
There are many ways to actively market the Management Reporting service, including:
- Discussing your Management Reporting service as part of a Complimentary Client Review, Proactive Accounting Meeting or Annual Accounts Review Meeting.
- Discussing how the client will monitor their results to ensure their on track during a Business Planning or coaching session.
- Sending out relevant educational marketing content to your database to subtly position the value of Management Reporting.
- Go to Navigation panel >
Marketing > The Gap + BOMA
> The Gap + BOMA Library Catalogue to check out our educational marketing ready for you to send via BOMA
- Hosting one of our Gap Webinars or Seminars to generate interest in your Management Reporting service.
The Management Reporting Proposals
There are two proposals in the
Management Reporting bridge; one for the standalone service and the other for Management Reporting combined with coaching. Only send a proposal for services you have gained conceptual agreement for.
- Consider the client's unique situation and use the checkboxes to select the objectives, measures of success and value to the client; add bespoke objectives, measures of success and points of value to reflect the client's individual needs
- If your client does not accept within seven days, call them to follow up
For more information, see our
Using proposals article.
Tip
Carefully read through the objectives, measures of success and values to better understand the types of problems this service will help solve for your clients.
Delivering the Management Reporting service
Client outcomes
By undertaking
Management Reporting, clients will:
- Improve their financial awareness so they understand what they should measure and how to measure it
- Be able to set targets and regularly monitor their results against their targets to ensure they're on track
- Have someone independent review their numbers with them each month to ensure best practice
- Access accurate, real-time data to enable better decision making
Session duration
The initial Management Reporting meeting should last no longer than two hours. Each monthly Momentum Call should last 15 minutes.
The service
Note
Monthly reporting is best practice, however, you can use the
Management Reporting bridge to deliver the service on a bi-monthly or quarterly basis.
The initial Management Reporting meeting
Prior to the initial meeting, the Client Manager will create the client's customer Management Report template, choosing KPIs based on the client's Business Plan or industry. They'll then meet with the client, either face to face or virtually, for the initial meeting to finalise the selected KPIs, discuss how these will be measured, and finalise the report template. This meeting should be repeated annually, near the end of the client's financial year to set up the report format and KPIs for the next 12 months.
The monthly Momentum Call
The purpose of the Momentum Call is to ensure the client has read and understood their monthly Management Report and has the opportunity to discuss key concerns and positive results identified in the report. Ensure that the call is booked in advance (best practice is to hold it at the same time each month, i.e. 2 pm on the 3rd Tuesday of each month), and that the client has enough time to read their report before the call. The objective of the call is to increase the client's understanding of the most important issues in their business; ask open-ended questions to help the client identify key points in their report. Record notes from your review of the client's numbers and KPIs in the Meeting Minutes and ask the client to commit to three 30 day actions to complete before the next call.
Important info
If the client hasn't reviewed their report and identified three things to discuss prior to the call, reschedule the call and position the value of reviewing the report and preparing for the meeting,
Click here for more information about common content found in the Gap bridges and how they relate to each step in the
Management Reporting process. See the
Management Reporting Process Guide for detailed information about the
Management Reporting content.
Key content in the Delivery folder includes:
- Management Reporting Additional Information Required Email: to send to the client before creating their Management Report to request additional information, e.g. non-financial information if required for KPIs.
- Management Reporting Monthly Report Email: an email to send to clients with their Management Report attached and brief commentary around the contents of the report added to the body of the email.
- Guide to Monthly Momentum Calls: a guide to help you deliver monthly Momentum Calls to clients as part of the Management Reporting service.
- Momentum Call Script: to ensure you cover the key points during the Momentum Call; update this to suit your natural conversation style and the client's unique situation.
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