Financial reporting: is short or long term most important?

Financial reporting. A lot of people will tell you: ‘If your finance reports are always late, your strategy is already outdated. You need real-time numbers to drive your business.’

And yes, having up-to-date information is crucial, especially for short-term decisions, cashflow management, and crisis response. 

If there’s a regulatory change or a sudden shift in your business environment, you absolutely need eyes on what’s happening now.

But here’s what I’ve learned from many years running my own business and helping other business owners: Real strategy isn’t just about chasing today’s numbers. 

It’s built on understanding the patterns, trends, and context that only historic data provides. The real magic happens when you bring both together, history to guide long-term strategy, today’s numbers to steer your next move.

In practice, that means using up-to-date data for tactical choices, but letting the bigger strategic calls be grounded in what’s proven over time. And when a genuine step change hits, a new law, a market shift, that’s when it’s time for a full strategy review.

My advice? 

Don’t get caught chasing the latest numbers for the sake of it. Use today’s data for action, and yesterday’s for direction. When they meet in the middle, you get clarity, confidence, and resilience.

#FinanceLeadership #StrategicPlanning #BusinessInsight