WHAT OUR CLIENTS SAY ABOUT US
“Ash did a great job at our portfolio company Jungle Creations. We asked him to help streamline the financial reporting process at board level. He quickly built rapport with the team and delivered the programme of work on time and in budget. As a result we were left with a much more efficient and insightful reporting pack that we will form the centre of board discussions moving forwards. I won't hesitate to work with him again.”
Vernan Richards, Investor – Livingbridge Private Equity.
“I had the pleasure of engaging Ashif to improve the board reporting at Jungle Creations. It was immediately clear from our initial discussions that he 'got it'. Ash understands that working smarter rather than harder is the key for every business and he also understands how to cut through the noise. That is exactly what he delivered for Jungle's board reporting which has helped us as a board engage in more meaningful conversations. I would absolutely recommend Ashif to anyone looking to implement board reporting changes and know that he would also be able to add significant value anywhere within the Finance function”
James Evans, Chief Operating & Financial Officer – Jungle Creations.
“Ashif did a great job improving our reporting systems and processes in the run up to our IPO and afterwards. Consistently excellent work over a long period. Ashif is a very committed and capable operator and I would wholeheartedly recommend him.”
David Wilton, Chief Financial Officer – Sumo Group plc.
“What sets Ashif apart as a consultant is his willingness to integrate himself into the heart of the organisation by building deep relationships across the business. Ashif truly cares, not just about the success of the project he’s working on, but about the whole organisation, its people and building for long term success. He always goes that extra mile, is willing to step in to help out beyond his remit and is an absolute pleasure to work with. In terms of specifics, Ashif joined us at Sumo during a period of significant transition and played a pivotal role in a number of transformational projects and was a great help during our IPO process. The most substantial changes have come through the implementation of Planning Analytics (TM1) and Cognos Controller by IBM and redesigning our financial board pack. Ashif also helped us with a number of bolt-on interfacing systems, such as a new HR and CRM system, PAW (online dashboards) and Virtual Board Room, to provide true end to end solutions for our business needs. But Ashif’s contribution goes much further than the specific tools he’s helped us with and he will truly be missed here at Sumo.”
Andrew Stewart, Group Director of Finance – Sumo Group plc.
“I worked closely with Ashif throughout his time at Sumo Group plc. He rapidly got to grips with the dynamics of the business and with the culture of the organisation, which made him very effective very quickly. As well as leading on a number of projects that will have a huge impact, he was always willing and able to add value in many other areas. He combines a determination to get things done with an engaging personality that makes him a pleasure to work with.”
Steven Webb, General Counsel and Company Secretary – Sumo Group plc.
“At Eye to Eye Puzzles we needed an elegant board pack solution to enable us to communicate our performance and plans to our partners. Ashif was recommended to us by a mutual business colleague as he had the necessary experienced in this area. It has been a pleasure to work with Ashif on our new board pack. The delivery of a very clever and user friendly pack was on time and on budget. I am also pleased to say that our partners were very impressed with the look and feel of the pack. I have no hesitation in recommending Ashif for his professionalism, creativity and efficiency.”
Owen Arnot, Publishing Director – Eye To Eye Puzzles Ltd.
“Ashif joined Pattonair a few weeks prior to the completion of the transaction to support the transition of the finance function to private equity ownership. His initial focus was to create a new reporting pack for the Group but subsequently he took on a wider role within the finance team which included working on the ABL debt facility and the company’s COGNOS system.Ashif integrated himself well within the wider finance team and very quickly gained a strong understanding of the business. The CFO pack which he created was a significant improvement on the Board reporting which was in place when he started. This is the second assignment on which I have worked with Ashif, the first time when I was working with 3i. I would recommend him highly to prospective employers and would not hesitate to work with him again.”
James Gunton - Exponent Private Equity.
“Ashif joined Pattonair in preparation for the acquisition by Exponent and management, and worked with me through the pre-acquisition stage. He was pivotal in the implementation and set up of the Group reporting and head office functions of the newly established Groups including management reporting to the Board, and onerous complex covenant reporting to the UK banking Group. Ashif’s financial modelling, data manipulation skills and Microsoft skills were excellent, such that he became the fountain of knowledge within the business. I certainly would not hesitate in recommending Ashif to prospective employers and hope that we work together on another project in the future.”
Mark Whatling, Group Financial Controller at Pattonair Group - Part of Exponent Private Equity.
“Ashif joined Pattonair to assist in the Management and Private Equity buy out from Umeco Plc. During his time with the group Ashif played an integral role in the transformation of the reporting processes and formats required as a result of the ownership change. He demonstrated excellent financial modelling and data management skills, and allied these to a strong understanding of systems infrastructures to develop a very effective and flexible set of management information for local Business Units, Group and External reporting. He was consistently professional, and also very enjoyable to work with. I would have no hesitation in recommending him to future employers.”
Jonathan Moritz, Operations Financial Director, Pattonair– Part of Exponent Private Equity.
“Ashif Manjothi worked with Ultralase for around 6 months in 2009, and was tasked with improving the financial reporting of the company including Cashflow forecasting, FTE and Payroll reports and our internal Management Reports as well as External Board Packs. These were completed with rigorous attention to detail, dedication and were always delivered in a timely fashion. Ashif’s input was first class and really provided what was required at an important time.”
Tony Veverka, CEO, Ultralase – Part of 3i.
“I initially recruited Ashif when I was Interim Finance Director of Rentokil Initial’s UK Washroom Business. Ashif did an excellent job in improving the quality of financial reporting and excelled at putting together business cases for major capital investments. I subsequently used Ashif’s skills again when I was Interim CFO at NCP Services Limited and in my current role to develop a high quality cash and financial reporting system. As the fact that I have contracted Ashif three times testifies, I have no hesitation in recommending Ashif for a financial planning and analysis role as his work is of the highest quality.”
Iain Chisholm, Interim CFO, Ultralase – Part of 3i.
“I worked with Ashif for a couple of years when I was FD of the Initial Washrooms Solutions business in the UK. The business was undergoing a significant amount of change, and as Head of Financial Planning and Control, Ashif was an indispensable support during a very challenging period. He is an excellent manipulator of data, able to think creatively and work independently to produce work of excellent quality. He is very reliable and conscientious. I would not hesitate in offering Ashif another contract at a future point in time."
Mark O’Connor Former FD, Initial Washrooms Solutions, UK – Part of Rentokil-Initial.
“Given the role of the team, the outputs are always high profile and always with tight deadlines, for example the monthly flash results, the Executive team briefing pack and presentations for the CFO. Ashif played a significant role in delivering timely, reliable and accurate outputs in all circumstances, using a combination of the accounting and consolidation system, Excel and PowerPoint to deliver high quality outputs and control the integrity of the reported financials. On a personal level, Ashif has a very professional approach, is easy to work with and demonstrated a high level of commitment throughout the time he was at Orange. As such I have no hesitation in recommending Ashif to prospective employers."
Jeremy Williams, Head of Orange Group Planning & Analysis, – Part of France Telecom.
BOARD REPORTING
Board reporting is an essential process for organisations that want to stay organised, informed, and compliant and refers to the documentation and materials that are provided to the board of directors ahead of a board meeting. This information helps the board to understand the organisation's current situation, make informed decisions, and plan for the future.
What is included in a board pack?
A board pack typically includes several key documents, such as financial reports, performance reports, and legal and regulatory updates. The specific contents of a board pack vary depending on the organisation's size, industry, and goals. Some of the most common documents found in a board pack include:
Board meeting agenda: This includes a detailed agenda for the upcoming board meeting, including topics to be discussed and any action items that need to be addressed;
Performance reports: This includes reports on key performance indicators (KPIs) such as sales, operations, inventory, customer satisfaction, and employee engagement. These reports help the board to assess the organisation's progress towards its goals and identify areas that need improvement;
Financial reports: This includes the organisation's financial statements, balance sheets, income statements, and cash flow statements. These reports help the board to understand the organisation's financial health and make informed decisions about spending, investments, and revenue generation;
Legal and regulatory updates: This includes updates on any legal or regulatory changes that may affect the organisation. This information helps the board to stay informed and ensure that the organisation is compliant with relevant laws and regulations;
Strategic plans: This includes the organisation's long-term strategic plans, including goals, objectives, and action plans. These plans help the board to understand the organisation's direction and make informed decisions about resource allocation and priorities.
Why is board pack reporting important?
Board pack reporting is essential for several reasons as follows:
First, it helps the board to stay informed about the organisation's current situation, including its financial health, performance, and compliance with legal and regulatory requirements. This information is critical for making informed decisions about the organisation's future direction;
Second, board pack reporting helps to ensure that the board meeting runs smoothly and efficiently. By providing all the necessary information ahead of time, board members can review the materials and come prepared to discuss and make decisions. This saves time during the meeting and ensures that all important topics are covered;
Finally, board pack reporting helps to promote transparency and accountability within the organisation. By providing regular updates on the organisation's performance and plans, the board can ensure that all stakeholders, including shareholders, employees, and customers, are informed and engaged in the organisation's activities.
In conclusion, board pack reporting is an essential process for organisations in the UK. By providing the board of directors with timely, relevant, and comprehensive information, board pack reporting helps to ensure that the board can make informed decisions and plan for the organisation's future success. If your organisation is not currently using board pack reporting, it is worth considering implementing this process to improve transparency, accountability, and decision-making.
Strategas Management Consultants have been involved in creating hundreds of board packs in our 20-year history with a small selection of testimonials from clients above. An insight article written for Williams Bian Limited recently involving our founder Ashif Manjothi titled ‘5 ways to improve your board pack and focus on the issues that matter’ follows:-
Board packs are essential for engaging senior stakeholders, bringing them up to speed on performance and guiding discussions that shape future strategy. They’re an indispensable component of every board meeting, but they can also be time-consuming and difficult to create. Is there a better way to build them? Management consultant and experienced interim manager Ashif Manjothi shares his tips.
“One of the biggest problems I see with board packs is that they’re often too heavily focused on recent performance and not centred enough on looking forward,” says Ashif, who specialises in helping companies improve their processes – and their board packs.
“Everyone’s time is precious and in a difficult economic period, when businesses face multiple challenges, stakeholders want to know how you’re addressing them. That’s when you need more dynamic, engaging, forward-focused board packs that can drive strategic discussion and are a powerful catalyst for change.”
So what can leaders do to ensure their board packs are a more valuable tool? Ashif offers these five recommendations:
1. Make it relevant: “While it’s handy to have templated sections, I see a lot of companies try and keep everything the same every time – often because they’re pressed for time. Take a step back, think about the big issues this month and make sure you’re getting to those messages and discussions quickly. It’s vital that every month you have the right balance between backward-looking and forward-looking information.”
2. Have the right level of detail: “Don’t take two pages to explain something that could be covered in a couple of bullet points – and think visually, using charts and dashboards that convey information at a glance. Remember the old adage, ‘a picture speaks a thousand words’. Think carefully about whether your audience needs you to go into detail on what is actually a minor point. What are the big changes and issues you need to focus on?”
3. Focus on the 80/20 rule “When building a board pack, you should spend 20% of your time putting the majority of it together and 80% of your time focused on the real core messages, adding insight to a strategic discussion. For most companies that I work with however, it’s often the other way around. The key is automation and understanding how you can use the likes of Excel, your ERP or CRM system and other APIs to quickly pull together key metrics in the format you need. This will also enable you to get data that’s as current and relevant as possible, ideally even real-time, which is vital if you need to make strategic decisions based on the data.”
4. Explore AI and other digital advances: “Technology can not only make your job easier, it can also vastly improve the way you understand data and present it. AI, for example, will analyse historic performance and create more accurate, granular forecast scenarios based on a wide range of factors, including macroeconomic changes such as currency exchange rates or inflation, or even customer and competitor trends. “You can also look beyond standard presentation tools and introduce digital board packs that allow for greater interactivity, provide customised dashboards for different stakeholders, and enable contributors to comment on information before the board meeting even takes place. This will save you time at the meeting and allow the board to focus on what matters. “Whatever improvements you make, remember it’s an evolving, iterative process – you don’t have to get your board packs perfect right away, and as you look to keep them current and relevant, it’s right that they change over time.”
5. Consider outsourcing: “It’s typically the responsibility of the CFO to complete the board pack, but they – or the people they delegate to – can spend a long time working on it, particularly if many of the processes are manual. Outsourcing to reporting specialists can be highly cost-effective and non-invasive. For example, on a recent board pack project I only attended the client’s office a handful of times over several months. With open access to their systems and productivity tools, I was able to pull together the information needed with minimum disruption to the company’s busy teams.”
As businesses continue to juggle the complex challenges caused by political and economic instability, rethinking the way you build and present your board pack can free up valuable time, make you more responsive to market changes and help you focus fully on the issues that matter to you and your stakeholders.
If you would like to learn more about how Strategas Management Consultants can help your business with their board reporting, simply call or email us at strategas@thevcp.co.uk and we will come back to you as soon as possible.
Have a question or want to arrange an appointment?
Interested in seeing what we can do for you? Email us at strategas@thevcp.co.uk and start the conversation. We would be very pleased to hear from you.