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Reporting 3.0 - The future of corporate reporting

I recently attended and presented at the Reporting 3.0 conference. It was very interesting to hear various perspectives on the direction of corporate reporting. My key takeways were:

 

  1. A much more holistic view of reporting is required. Traditionally reporting has focused around financials and more recently CSR but they tend to be completely separate processes. Reporting 3.0 is about bringing these different silos of reporting together and providing a holistic and value-based approach to reporting. Much of the discussion was about what the scope of this type of reporting is and the value of this approach.

  2. Its not just about reporting it is about ‘thinking’. The concept of Integrated Thinking which is espoused by the International Integrated Reporting Counsel (IIRC) was a consistent theme. The key premise behind this is that it is not the end report but the thinking behind the report and how the business process of generating the Integrated Report must support collaboration and process flow across many different parts of the organization.  I had the pleasure of co-presenting on this topic with Massimo Romano from Generali Group who is an innovator and thought-leader when it comes to Integrated Reporting and Integrated Thinking.
     
  3. The IIRC provides a framework on how organizations can begin the journey to Integrated Reporting <IR> and also has set up networking groups by industry to discuss the challenges and opportunities by specific industry.  The IIRC has also established a Technology Initiative (Tagetik is a founding member) that is focused on how technology vendors can help organizations leverage their existing infrastructure (and identify the holes that need to be filled) to support Integrated Thinking and Integrated Reporting.

 
If you’re interested in where the future of corporate reporting is heading take a look at this short video summary of the event.

 

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