ESG reporting is rapidly becoming a key focus area for finance teams around the world. ESG stands for “environmental, social, and governance.” It’s a set of standards through which companies can report metrics that indicate how well their activities align with issues of environmental stewardship and social issues. In late 2021, the International Accounting Standards Board (IASB) announced the creation of a new ESG reporting standard.
Operational reporting is an effective, results-driven means of tracking, measuring, and analyzing your business’s regular deliverables and metrics. These dynamic reports offer invaluable insights into various logistical aspects relating to your organization’s activities across the board. They’ll help you make swift, informed decisions, save time and money, spot emerging trends and formulate initiatives that will improve the day-to-day operations of your business.
SAP’s library of pre-defined reports for Finance and Controlling (FICO) is great for addressing some of the core tasks associated with finance and accounting. Those reports align well with accounting standards under GAAP and IFRS. Unfortunately, they rarely do a good job of addressing the kind of reporting needed to make informed managerial decisions.
