Management accounting must be based on customer’s unique needs. However, it is usually not necessary to invent a bicycle: experience of other companies and market practices can be taken into account.
The problem with management based on real-time data is often the lack of reliable data, but often also overabundance of data, where data is contradictory and disorganized.
Management accounting is like the city of Tallinn – it will never be completed. It is important to identify the indicators that actually affect operations, to define the needs of information management and set priorities. The efficiency of management accounting is higher if, together with the creation / organization of management information, the work processes necessary to ensure data-based management are also developed.
Examples of different services
Agreeing on definitions
Defining indicators (KPI or Key Performance Indicators)
Market / product / segment profitability assessment (activity-based costing)
Liquidity planning and management
Regular assembly of reports, possibly its automation