Finance is a treasure trove of data for departments throughout a company. Of course, someone has to generate and distribute all that information.

You certainly want to produce the most relevant and behavior-changing reports … but only if people are reading them!

That’s when it can help to think more like a different department: Marketing.

‘I needed that data yesterday’

Marketers would never green light a new product or service without proof there was a need for it. To do the same with your reporting, try floating a new report out there and see if it sticks.

Each time you create a new report, send it out to a few people first and keep your ear out.

Did anyone mention he or she was using it? If the silence is deafening, go ahead and yank it. It’s probably safe to assume it’s either non-critical info or people can get that data somewhere else.

Of course if you hear any grumbling or people come looking for that particular report, you’ll know it’s worth re-issuing. (At the very least, you may be able to whittle down your distribution list.)

It’s a great boost for your own people too – they won’t feel like the info they spend time compiling is ending up in the recycling bin.

Because it’s considered the most productive day of the workweek, every Tuesday we’ll offer a strategy to make finance departments more efficient.

Tags: financial reporting, streamlining, working with other departments