5 tips for preparing the creation of your Financial Report

New graphic charter, new recruits, new format, new financial data or even new processes... Many parameters must be analyzed when it comes to launching the creation of financial documents, whether half-yearly, quarterly, annual... And their preparation can be a puzzle for the department, especially if it is started a little too late... Added to the daily missions of the financial department, employees can run out of time and manage tasks in a hurry and potentially impact their work quality. In this article, we offer you, through 5 simple, basic, but extremely efficient tips, how to properly prepare the creation of your financial reports.

1. Define contributors and project manager(s)

This advice might seem obvious, but sometimes it is postponed. Choosing the people who will contribute to the preparation of the financial report allows to predict their workload and optimize their missions to preserve the quality of their work. Warned long before the launch, these contributors and/or project manager(s) will be able to better organize their availability and devote themselves to the development of the document in an optimal way. Anticipate unexpected events by providing substitutes, for example. Jenifer has just announced that she is pregnant? John is going on a honeymoon for 10 days? Peter is sick and will be back in a week? All this in the midst of preparing financial reports? Do not panic: the substitute will take over.

2. Establish a realistic schedule and milestones

In order to optimize everyone’s working time, establishing a well-defined schedule ensures the smooth running of the financial report creation stages. Don’t hesitate to plan ahead, because certain key moments, such as proofreading, can be more time-consuming than expected. Defining deadlines also allows to clearly limit the schedule and to observe the project’s progression. At Pomelo-Paradigm, your assigned project manager helps you schedule the right timing. He perfectly knows it, thanks to his proven experience!

3. Prepare the new data and secure it

Data that is intended to be published in a financial report is crucial. This is why, before launching the creation of documents, it is important to define a centralized “safe place”, like a dedicated folder or file (spreadsheets, notes, etc.), or in a software. Assign access rights to contributors/project managers so that they can now enter the new contents of the report. With Pomdoc Pro, each user can, in real time and in a secure way (with continuous backups), contribute in a single document without further delay. For information related to the taxonomy, choose now your service provider for the integration of future tags. At Pomelo-Paradigm, we can help you create your taxonomy with the help of expert partners.

4. Get in touch with the communication department

Maybe the graphic charter is changing this year, but you haven’t been informed yet? In any case, it is better to have a chat with the communication team and predict the graphic evolutions of the company. If a complete rebranding is on its way, the graphic work will likely be more important. Pomelo-Paradigm can propose advice from our studio to provide customized creative ideas for your report’s layout and make sure it is graphically compliant regarding the charter. Only focus on the financial data!

5. Choose the right tool and associated services

You need to secure the data, to save time with the report’s layout, to centralize the information for all the contributors, to be ESEF compliant, to be able to export in XHTML… These issues must be meticulously evaluated upstream to choose the right software for the creation of financial supports. Make a list of your needs by prioritizing them. By using Pomdoc Pro, you choose a safe cloud-based software that will allow:

  • centralizing and securing your financial data
  • compliance with the graphic charter with many creative possibilities
  • unique and secure access for all contributors
  • customized follow-up with the experts at Pomelo-Paradigm
  • and so much more…