Risk assessment during the audit
June 9, 2014Relieve the burden of payroll administration
June 9, 2014
In our previous series of articles, relating to business valuation, I focused largely on the future, arguing that this is where value should be realised.
In retrospect, however, it seems that I may have neglected the importance of the present and the past to the extent that they may perhaps have been perceived as inferior tenses. This cannot be further from the truth!
Certain times or periods are often emphasised at the expense of others. A person might say, for instance, that it is unhealthy to dwell on the past or that we should not spend time daydreaming and rather live in the present.
I believe, however, that all periods are equally important: Sometimes we should dwell on the past and sometimes we should spend time with our heads in the clouds. The past tells a story and the story determines the way we see the world and the choices we are likely to make on a daily basis. Our choices, in turn, impact – sometimes drastically – on our future. It seems that past, present and future are infinitely bound.
The secret, I suggest, lies in managing the way in which we engage with different periods, rather than treating those least likely to provoke uncomfortable situations, as superior.
In business terms, this interaction of tenses is consolidated in our business intelligence (BI) reporting framework. Our aim in terms of BI reporting is to create an affordable reporting structure for your business where:
- Historic data is analysed in order to relate the story that the past is trying to tell, in terms of your business context;
- High level reporting is provided, focusing on the core value drivers of your business, empowering you with the knowledge necessary to improve the quality of decision-making processes; and
- The past and present are consolidated with the future value creation process of your business.
For more information on how our BI reporting structures can work for you, see our next newsletter.
Feel free to contact me, Malan Botha (malan@asl.co.za), or your responsible director, should you wish to discuss in more detail our possible assistance with business intelligence reporting.
