Stakeholder Reporting & Strategic KPI Enhancement
The Light Bulb Moment
“The price of light is less than the cost of darkness.” The problem is, there are just so many types of light bulbs available. In English: we have a lot of executives looking at a lot of performance indicators that are either not critical or key to their sphere of the business. More specific to private equity, there a lot of constituencies looking at key performance indicators that are not aligned to the value creation theses. Accordion helps clients define a set of KPIs, which are both critical and relevant to meeting corporate goals. And then we don’t just shine a light, we direct it – making sure the right stakeholders have access to the right reports and can be rightly held accountable for meeting their performance targets.
The Accordion Approach to Stakeholder Reporting & Strategic KPI Enhancement
Top-Down and Bottom-Up
A good relationship between KPIs and a reporting framework combines top-down strategic priorities with bottom-up accountability. Accordion helps clients not only create that marriage but realize its benefits: providing insight into business performance, tracking progress against the value creation theses, galvanizing the company around a standard set of metrics, creating a culture of accountability and a single source of truth, and facilitating the exit process.
Building a Better Metric Mousetrap
Whether financial or operational KPIs, Accordion helps clients define the right reporting set and develop an efficient reporting cycle. The 5-step process determines the key metrics at individual, team and divisional levels, verifies data availability and accessibility, defines a process and cadence to gather data, creates reports, and automates a process for analysis and report production.
When functional area management receives the same reports as C-Suite executives, who receive the same reports as fund sponsors, the mousetrap is broken. Accordion works with business partners to determine the full list of relevant metrics (finance, operations, sales, marketing, etc.) and then builds the right report, cadence and visualization aides for each stakeholder group. We make sure every constituency gets all the information they need, but only the information they need.
The Truth Tellers
‘Alternative facts’ are the death knell to value creation. Where there is disparate data, there is neither clarity around performance nor a clear pathway to improvement. Accordion excels at data reconciliation and analysis. Reconciling multiple information streams and disparate systems into a single source of truth is (part) of what we do best. Turning that truth into action is where our real passion lies.
It's about visibility into the critical aspects of the what (financial) and the why (operational), all in one place.