Operational and Financial Reporting Outsourcing Services
What is Operational Reporting?
Operational reporting is the real-time daily numbers reported to an organization. An example might be batch reports at the end of a restaurant’s day, or daily reports on investments by a brokerage firm.
Operational reporting permits businesses to track trends and do data analysis in real time, allowing decisions to be made based on real-time facts and metrics rather than projections or hypotheses.
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The TGG Way: Why You Should Outsource Your Operational Reporting
The TGG Way™ relies on the accurate and detailed operational reports we produce. Operational reporting with TGG gives you up to the minute snapshots of where you are. Our operation business analyst team’s insights put that in perspective in relation to your budget, cash flow forecasting and industry benchmarking.
Traditional stand alone operational reports run the risk of failing to identify inefficiencies in workflows or products. Simply looking once at a static snapshot leaves out the perspective and information about production over time. With TGG’s regular financial reporting outsourcing, reporting, collaborative process, and experienced CFO and Controller in place, your operational reporting takes on a larger perspective in which we are able to observe trends month-over-month and year-over-year creating clarity around financial decision making.
How Does Operational Reporting Help?
In industries with complex interconnected systems working in unison, an operational report can measure several key aspects of the supply and production chain. Then, based on resource costs and usage, production efficiency can be improved, sales performance would increase, and strategic decisions can be made.
Types of Operational Reporting
Operational reports vary on the data and how often the operational data is being presented. Examples of types of operations reports include real-time information, current & planned work, forecasts, dashboards and trend analysis. These reports provide actionable insights for the business owner to make decisions based on the operational data. The more accurate the data analytics is, the more accurate the operational reporting.
The Benefits of Operational Reporting
Operational reporting delivers data in real-time that business owners can use for data analysis as well as track trends. There are a few other benefits like improving workflow productivity, faster decision making and building efficiencies that can improve the overall operational performance as well as the sales performance of the business. An operational reporting analyst can help you improve the overall efficiency of your company.
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How is TGG different from other Operational Reporting Service Companies?
TGG’s mission is to make business owners’ lives better through excellent financial management. We are not another vendor for our clients. We partner with them to understand their goals, mission, vision and brand voice so we can work as an extension of their team. We provide a team of outsourced accounting professionals and are not a bookkeeping firm.
What is the Exit Planning Process?
The Exit Planning Process has several steps that include first understanding the goals of the business owner(s); figuring out the true value of the business; continuing to build & preserve its value; sell to a third party or transfer to management or family members; create a contingency business plan; finance and estate planning with the owner.