Management accounting and key indicators coaching
An essential component of every strategy implemented by the IDEA Strategies team is the use of clear and meaningful data and indicators. This principal detail, however simple in theory, is difficult to achieve. As a result, we offer support and coaching services for your management accounting analysis.
Effective management accounting difficulties and benefits
Far too often, the financial or operational data transmitted – if it is transmitted – to managers is unclear, presented in unintelligible or simply irrelevant ways. Its usefulness is therefore limited.
Moreover, for indicators to have a positive impact on a company’s operations, there is a need for data standardization at all management levels. Senior management sometimes determines its actions in relation to certain variables, while middle managers use others, resulting in unclear priorities, unfulfilled objectives and a somewhat chaotic environment.
Gathering indicators is therefore not enough. It is still necessary to select the right ones and ensure that this selection is made using a well-coordinated and thoughtful approach.
Management accounting and indicator benefits
When presented effectively, data can conclusively indicate different tangents taken by a business. When examined periodically, they can highlight real problems and push leaders, managers and company executives to remedy a problematic situation. Once this motivation for a change of direction is paired with a strong and well-led team, a culture of continuous and lasting improvement in regard to business performance and service quality can be established and maintained.
Management accounting and key indicator coaching, the IDEA Strategies way
At IDEA Strategies, we pursue the goals of optimizing operations and maximizing returns for our clients. This is why we attach great importance to management accounting and the use of strong and relevant indicators.
Simple financial monitoring
Our approach begins with establishing financial monitoring that is effective, despite its simplicity. This will enable us to easily compare your company’s performance to previous years and analyze the monthly evolution of your financial position. This financial monitoring will help you prepare your annual forecasts and greatly reduce urgencies and potential slippage.
Establishing strategic and tactical priorities
Key indicators will allow us to develop strategic and tactical priorities for the company. Recognizing the company’s strengths and weaknesses will make it possible to effectively develop medium-term goals and objectives production guidelines.
Establishing overall and departmental objectives
In the same vein, the IDEA Strategies team will be able to define, with your participation, the overall objectives of your company and its various departments. The indicators will help these ambitions take root in a substantive and realistic dimension.
Establishing simple monitoring tools with the most critical indicators
The approach we put into practice is designed to empower you in relation to the tools we develop with you. This means that after our job is done, your team will be able to use them without difficulty. That’s why we focus on critical and important indicators that will allow you to continue analytical work and produce a well-rounded and compelling report (i.e. production or sales report).
Developing communication between the different levels
Finally, the use of key indicators promotes communication and effective coordination between the various departments of a company. As each decision-making level progresses towards the same objective and apprehends the situation according to the same analysis grids, the efforts of each level can be combined.
IDEA Strategies, for your management accounting
Our team’s experience makes it possible to reduce your problems and assist you in establishing your priorities. The tools we use will enable you to develop and maximize your business profitability. To find out how we can help you reach your full potential with our coaching services, contact us today.