A well-written report from the board can be an effective tool to encourage collaboration, transparency and accountability and facilitating strategic alignment. But many organizations struggle with creating reports for their boards that are both timely and accurate. The impact of poor presentation or insufficient data is detrimental to the decision-making process as well as the growth of the company.

Focus on only sharing the details you need to help move your board forward. This will reduce the amount of information and the need for lengthy explanations.

Begin by preparing an executive summary or abstract, which provides summary information from the report. This allows board members to quickly understand and absorb the report’s most important points. Follow this with your company’s key performance indicators (KPIs). Include specific data in the context of goals and targets that were set last year, and highlight the progress made.

Include a section on industry trends and challenges. This is an excellent opportunity to explain the financial data you provide and help your board members understand, for example the reasons why your market share have increased or decreased. Also, if you’re experiencing any significant regulatory obstacles be sure to mention this in the report to enable the board members to understand the potential legal implications and risks.

Tell your next-step strategy to the board. It’s up to them if this is a brand new idea that requires their approval, or a re-evaluation of an existing plan.

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