Anyone who runs a business knows that you will be dealing with a LOT of paperwork. Things like registration, monthly payrolls and things like invoices and payments every month. Actually, it doesn’t happen just every month, it happens every single day and you will be dealing with a lot paperwork and reports that will keep your company running.
When it comes to business reports, there are so many different types of reports that can give you the insight to many different components of your company.
Here are some of the more common business reports you need to make sure you have by the start of 2019.
Report 1 : Annual Reports
An annual report is basically the most comprehensive yearly business report that most businesses have.
The annual report will usually have what your company accomplished over the year and all the analysis you have done for the company.
In addition to that, annual reports can be shared with investors, partners or potential business partners. This is a great tool to share your business with people who matter. Most of the time annual reports are compulsory if you are a listed company.
Report 2 : Marketing Reports
Another huge report you need to ensure you have is a marketing report. Marketing is a really huge part of your company and how your business gets recognised. Therefore, this report is required by the rest of your company to fully understand where your business stands in the marketing stand point.
When you analyse and fully understand where your marketing efforts are and where your visitors and new sales are coming from, you and your team can then refocus your attention to that the next time.
Monitoring and replicating the results is important so that you can make sure you are getting better results from the work you’ve already initiated.
In addition to that, with the report, you will be able to get a better return of investments from your marketing spending.
Report 3 : Sales and Finance Reports
This is probably the only other super important report that you require for the rest of the company because it tells them how well they are doing financially.
The better you’re doing financially the better the company is and the better the company, there will be a chance to get more money and better resources as a whole.
You will also be able to determine your profit margins, your spending and the amount of returns you’ve made based on all your investments.
With a combination of all these reports, you will be able to see a snapshot of your entire company and the things you need to do to improve all the moving parts that are not working so well.
In Malaysia, there are so many ways you can create business reports. SSM Malaysia has just released a new reporting tool called the MBRS tool that will help you report your annual returns and a whole lot more. It will soon become a mandatory tool that must be used by every registered business.
To ensure that your team is ready for this amazing upgrade, please make sure that they attend these workshops to get certified today. All the necessary data about using and maximising the Malaysian Business Reporting System are right at your fingertips. Choose the right training provider and get exclusive MBRS tutoring.