How does it work?
Pillow May sits down with the company to determine suitable key performance indicators for the business and decide on appropriate reporting periods for each indicator.
The key performance indicators are then compared to prior year performance and/or industry benchmarks.
Each period, Pillow May takes the company’s trial balance (from any software package) and produces full colour pictorial reports which are succinct, easy to interpret and engaging.
Then Pillow May sits down with the directors to discuss the impact of the reports (assuming the FD service package is also taken).
Get the Picture – Case Study
PamLloyd PR; food marketing and PR
PamLloyd PR, which started as Pam’s sole trade, set up in her spare room, has grown rapidly and is now a company with two directors and eight staff. It regularly wins awards for its creative, memorable and on target PR campaigns.
However, as the business grew, Pam felt disconnected from the company’s finances. She found the numerical management reports being produced did not help her to understand the company’s progress towards its long term financial objectives.
Pillow May recognise that for many directors, the big picture gets hidden in all the detailed management reports. So we have introduced ‘Get the Picture’, which turns your lengthy financial reports into a few full colour graphs that make sense to your business, in line with your uniquely defined key performance indicators.
What are the benefits?
PamLloyd PR has seen significant benefits from using ‘Get the Picture’:
- The directors have retained full financial control of the growing business
- The company has clear key performance indicators
- The reports are easy to understand and cut out the waffle!
- The company results are compared with industry benchmarks
- The staff feel more engaged and involved in the long term financial objectives
- The directors spend less time on their finances
The way forward…
Pam and her husband Dieter, who is Managing Director of the business, can now interpret the financial reports which are linked to the company’s key performance indicators.
Your business could benefit too…
To find out more about the ‘Get the Picture’ service please contact us to discuss your requirements in more detail.