Are you getting enough quality information?

How do you measure your business performance. This is currently more important than ever and we have had a rise in requests for business information. In this difficult economic climate your customers and suppliers may be changing their behaviour and seriously affecting your business. There may be early indicators which might show there are opportunities which you can take advantage of, equally with the right information you can look forward and make decisions (however painful) now when you may have some options.

How do you measure your efficiency, can you redirect peoples efforts to better advantage if things are slow in some areas?

Now is the time to think hard on what information will help you and your business. A lot of things are being collected as you use your IT systems (not just in accounts). If you can gather and analyse this information will you be more in control?

Are you getting reports that are useful but are late, e.g. many businesses have management reports which are presented up to 2 weeks after the period end. Would up to date information be more useful, even if it is not wholly accurate?

If only I had this? Ask, the answer may be easier than you think.