How can you make your financial report to the COO more actionable?

2 Use visuals and summaries

The COO is likely to have a busy schedule and a limited attention span. You want to make your financial report easy to read and understand, without sacrificing detail and accuracy. One way to do that is to use visuals and summaries to present your data and findings. Visuals, such as charts, graphs, tables, and dashboards, can help you convey complex information in a simple and engaging way. Summaries, such as executive summaries, key takeaways, and action items, can help you highlight the main points and recommendations of your report.

3 Provide context and benchmarks

The COO needs to know how your financial results compare to your expectations, goals, and industry standards. You need to provide context and benchmarks to show how your business is performing relative to your plan, your peers, and your market. Context and benchmarks can help you identify and explain the drivers and trends behind your financial results, as well as the risks and opportunities ahead. You can use historical data, budget data, forecasts, ratios, and industry reports to provide context and benchmarks for your financial report.

4 Include analysis and recommendations

The COO expects you to not only report the numbers, but also interpret them and provide guidance. You need to include analysis and recommendations in your financial report to show the COO what the numbers mean and what actions they should take. Analysis and recommendations can help you demonstrate your expertise, insight, and value as a finance professional. You can use various tools and methods, such as variance analysis, scenario analysis, sensitivity analysis, and return on investment analysis, to support your analysis and recommendations.

5 Align with the strategy

The COO wants to see how your financial results align with the overall strategy of the business. You need to align your financial report with the strategy to show the COO how your financial performance supports the vision, mission, values, and goals of the business. Aligning with the strategy can help you establish credibility, relevance, and impact as a finance professional. You can use frameworks and models, such as SWOT analysis, balanced scorecard, and value proposition canvas, to align your financial report with the strategy.

6 Solicit feedback and follow up

The COO values your input and collaboration as a finance professional. You need to solicit feedback and follow up on your financial report to show the COO that you care about the quality and outcome of your report. Soliciting feedback and following up can help you improve your report, address any questions or concerns, and monitor the implementation and results of your recommendations. You can use various channels and methods, such as surveys, meetings, emails, and phone calls, to solicit feedback and follow up on your financial report.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?