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One page MIS: Track performance

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A well prepared MIS/Flash report is a great tool to support decision making and enable any course correction required. It will capture the flavor of your company and the industry sector in which it operates. Some items are monitored more regularly than others, for example, cash (which includes Bank Balances) is monitored on daily basis. Sales and some costs may be monitored on a monthly basis. You design and monitor this.. it is Your Report of Your Business Health

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One page MIS: Track performance

  1. 1. VentureBean Consulting Pvt. Ltd. www.venturebean.com Prepared by Anjana Vivek for class discussion only 1 beanie@venturebean.com Your One Page MIS: Customized by You The following are some indicative parameters in an MIS/Flash report where one can capture the Key Performance Indices (KPIs). Key data may be collected on a weekly/fortnightly/monthly basis. For example these items may be captured in a spreadsheet month wise: • Sales: Invoices raised for the month • Cash inflow for the month • Expenses – key heads and total monthly expense • Cash outflow for the month • No of clients/customers billed • Quality of revenue : • Per lines of business (i.e. SBUs/product varieties/Service Offerings etc.) • Franchise/own/other models • Location/National/International • Service Business: No. of repeat/retainers and no. of one time clients • New customers added • Customer attrition • Pipeline customers – order book • Number of employees • Average revenue per employee • Average cost per employee • Receivables • Payables • Cash balance • Assets • Loans outstanding • Equity capital • Allotted • To be allotted • Committed • Unusual events and their impact, such as sale of land in the period being reported • Etc… Practical perspectives and illustrations A well prepared MIS is a great tool to support decision making and enable any course correction required. It will capture the flavor of your company and the industry sector in which it operates. Your One Page MIS may also be referred to by other stakeholders, such as key employees, investors, bankers etc. and may need to be customized based on the information they may require to see. As an organisation, you are likely to have projections. Let us assume that you have detailed month wise projections for the half year April XX to September XX in a spreadsheet. You may want to compare
  2. 2. VentureBean Consulting Pvt. Ltd. www.venturebean.com Prepared by Anjana Vivek for class discussion only 2 beanie@venturebean.com actuals with budgeted numbers. For example, if in July, the actual sales for Q1 may be put down month wise against projections. If required the deviation can be also put down in terms of percentage/actual difference. In order for this MIS to be meaningful, it is not enough to just put down the numbers and deviations. You must have a couple of points of explanation for the actual vs. forecast numbers. These could be driven by external events or by internal matters. Ideally about 5 points of explanation and notes regarding the performance of the month can be set out in a note at the end of the spreadsheet. The value to the MIS, is from these notes. Over time rich data and analysis is built and will help you get a better understanding of growth of the company and where performance could be improved. The notes should be crisp typically not more than 4-5 points are to be covered. In general, there are 2-3 critical factors and this One Page MIS is meant to highlight these critical performance drivers and barriers. Rolling Budgets/Forecasts If on viewing the Q1 forecast and projections, you realize that your initial projections require recasting, particularly for Q2 you should go ahead as that will help you set a realistic target and expectation. The revised forecast with actuals for Q1 form the Rolling budget/forecast. A sample rolling plan for Sales and a basic Cash Budget/Cash Forecast in non-rolling format are shown as illustrations in the following sheets. All items are not equally important Some items are monitored more regularly than others, for example, cash (which includes Bank Balances) is monitored on daily basis. Sales and some costs may be monitored on a monthly basis. You design and monitor this.. it is Your Own One Page MIS. Do you: 1. Have a system of forecasting and budgeting, month wise? 2. What are the critical items that you may like to monitor in your business? 3. What do you think are your key business and value drivers? 4. Does your One Page MIS capture these value drivers – directly or indirectly? For more from the VentureBean Knowledge Hub and Teaching and Class Notes: email: beanie@venturebean.com ; website: www.venturebean.com ; teaching notes: www.slideshare.net/anjanavivek
  3. 3. VentureBean Consulting Pvt. Ltd. www.venturebean.com Prepared by Anjana Vivek for class discussion only 3 beanie@venturebean.com Illustrative Rolling Forecast PROJECTED Half Year 20XX April May June July Aug Sept Half Year Sales 110 115 125 130 140 150 770 Product 30 35 35 40 40 40 220 Service 80 80 90 90 100 110 550 110 115 125 130 140 150 770 India 80 85 90 90 95 100 540 Global 30 30 35 40 45 50 230 110 115 125 130 140 150 770 July 20XX Rolling Budget Revised Q2 April April-Actual May May- Actual June June-Actual July Aug Sept Half Year Rolling Sales 110 100 115 110 125 110 115 125 140 730 Product 30 25 35 25 35 25 30 35 40 205 Service 80 75 80 85 90 85 85 90 100 525 110 100 115 110 125 110 115 125 140 730 India 80 75 85 80 90 80 85 95 100 535 Global 30 25 30 30 35 30 30 30 40 195 110 100 115 110 125 110 115 125 140 730

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