Companies often lose sight of their financial health due to disorganized processes or lack of regular oversight. This can lead to missed opportunities, unnecessary spending, or even financial instability.
Monthly financial meetings help mitigate these risks by providing clarity, accountability, and actionable insights into your business's performance.
In these meetings, key staff members should review the past month and look at forecasts for next month.
It is a good idea to split reporting responsibilities into two sections:
Proper preparation is crucial to avoid delays and ensure accurate data is available for discussion.
Note: SSW uses Fathom and Power BI to generate detailed financial and operational reports.
1. Reconciling
2. Data validation
3. Generate reports
This meeting focuses on operational and sales metrics to gauge the company's performance over the past month.
Tip: Record a concise summary of Meeting #1 to share with participants in Meeting #2 for an executive overview.
This meeting focuses on financial health and longer-term trends. Use visuals like graphs to simplify complex data.
By adhering to this structure and leveraging the tips provided, your monthly financial meetings will deliver actionable insights and drive better decision-making for your company.