A well-crafted board report is powerful tool that boosts collaboration, promotes transparency and accountability, as well as facilitating strategic alignment. However, many companies struggle with making reports for boards that are punctual and accurate. The consequences of poor presentation or lack of information is detrimental to the decision-making process and the growth of the company.

To make the most of your board member’s time, you should focus on sharing only the information that is required to move the needle forward. This will help avoid information overload and the need for lengthy explanations.

Begin with a summary or abstract that summarizes the main elements of the report. This helps board members quickly scan and grasp the report’s major points. Keep this in mind when you’re preparing your company’s key performance indicators (KPIs). Give specific information in the context of the goals and targets that were set in the last year. Also, discuss the progress you have made.

Include a section about the latest trends in the industry and challenges. This is a great way to give context to the financial data you provide and assist your board members visit homepage justmatlab.com understand, for instance, why your market shares have increased or decreased. Include any significant regulatory hurdles in your report, so that board members are aware of the legal implications.

Finally, share your next-step plan with the board. It’s up to them if this is a brand new idea that requires their approval, or a revision of an existing one.