The Importance of Board Reporting Software

Boards are increasingly expected to perform in terms of performance monitoring, risk management and oversight. In the face of these demands, it can result in a negative impact on the speed and quality with the time that board reports are prepared. The right software for reporting can be the difference between a sloppy or unorganized document that can confuse your directors and an efficient report that keeps them in the loop.

The key to good board reporting lies in the ability to present complex information in a comprehensible format as well as providing context and visuals to help your directors comprehend the information. This means making it simple to weed out unnecessary or irrelevant data, and providing ways for directors to collaborate in a secure way to clarify any report details that might be unclear.

One of the most effective ways to achieve this is to use an specialized reporting platform. The best board reporting platforms will save you time and effort as they offer an easy and intuitive method to create and distribute board packs. They are also designed to keep directors informed during the meeting with simple, concise information and simple navigation.

The most effective tools for reporting on board can also be customized to the specific needs of your board. It is possible to create and deploy custom planning and analysis software without having to rely on your IT department. This lets business teams utilize the capabilities of BI for self-service reports, multidimensional analysis queries, ad hoc ones and dashboard creation. It also assists in managing and monitoring every planning process, which includes forecasts, budgets, analysis of profitability and simulation of scenarios.

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