Why Most Board Reporting Doesn’t Cut It—and How to Use Dynamics BI to Reverse Course

Have you ever wondered what your board really thinks of those reports you sweat over every month? In this article, I explore what corporate information boards really want, and why business intelligence (BI) obtained via Microsoft Dynamics ERP and CRM systems drastically helps improve board reporting, and ultimately, board effectiveness.

Board members are usually time poor, and often sit on several boards. When they come together, they need a reliable board report that tells them immediately what they need to know, so they can better spend their time strategizing and adding value to the business. The truth is, most boards are not entirely happy with the quality, timeliness and accuracy of the corporate information they usually receive. Making the most of your board reports, and what is required of them, need not be a futile exercise, though. Understanding the board's concerns is the first step toward improving its effectiveness, and ultimately the board's capacity to focus on improving your company's strategy.

Accuracy of data is one of the most common gripes about board information. It's not unusual for boards to receive information in huge slide decks, or complex spreadsheets that have been pieced together manually from multiple data sources. The minute a board member finds an arithmetic error, it suggests your numbers can't be trusted. You've lost the confidence of very important people. The board members are then forced to conduct their own data checks, which wastes precious time better spent elsewhere.

How does BI help? It ensures that corporate data is analyzed and reported on while still connected to the corporate data source, not taken offline and manipulated manually. BI eliminates the need for disparate, disconnected spreadsheets, where the propensity for errors grows every time data is exported.