A business progress report provides an overall indication of the business health of a company. It analyzes the progress of the outlined business goals and projections made at the start of a year. It commonly presents itself to top management and business investors.
Also, it acts as a medium of communication among units of an organization as it conveys essential information that serves as a basis for coming up with business strategies and critical decisions.
- Business Progress Report: 5 Key PointsPart 1
- Business Progress Report Template Download Part 2
- Additional Resources Part 3
- How to Dramatically Reduce Time You Spend Creating Reports Part 4
Here are 5 key points in coming up with a business progress report:
The Organization May Opt to Form a Team to Come up with a Business Progress
A leader may be assigned, and each member may be assigned with a particular indicator to work on. They will be responsible for monitoring the progress of the business based on a given indicator and in gathering information on it for the purposes of reporting.
Decide on the Major Highlights and Determine Its Overall Objective
Create an outline of these indicators, so you will know which facts and figures to include. Be as accurate as possible in the report as investors do not necessarily subscribe to generalities.
Reflect Any Shortcomings
Be transparent in reporting about those areas where progress have been slow to the company. It is important to convey this information to the top management and to the investors to give them a heads up on the real situation of the enterprise.
Just don’t forget to provide action plans on how the company intends to resolve the issue or improve the situation.
Make Your Report Easy to Read and Understand
Create clearly-labeled subheadings for each indicator or topics it addresses. Information within the business progress reports should be easy to find as executives and investors may not have time to read the whole length of the report.
They may also be interested in a single topic only and may need to read it first upon receiving the report. All technical information that needs to be in the report may form part of the appendices found at the last pages of the report.
If Applicable Ask Someone to Check the Report and Provide Feedback
Make sure that the business progress report is free from any errors. Validate all information and statistics indicated in the report. Accuracy and transparency are two essential elements of any business report.
Business Progress Report: Free Download Section
You can also use the following templates on ProsperForms:
Additional Free Templates
- How to Write a Smart Project Progress Report + Free Template Download
- How to Write a Weekly Progress Report + Free Template Download
- How to Write a Business Development Status Report + Free Template Download
ProsperForms is a cloud solution to dramatically reduce the time you spend creating reports
- Make reporting easier with auto-fill: Fields such as date, name, report type, and formatting are inserted automatically by software.
- Consolidate reports automatically: Reports created by your team members can be consolidated easily.
- Save time with auto-layout: No need to spend hours in Word or Excel perfecting the report’s layout because it exports your updates into a beautifully crafted file with a couple of clicks.
- Peace of mind with auto-reminders: No one forgets to submit their reports because ProsperForms automatically sends timely reminders according to the schedule you chose.
- Decrease time and effort spent on monthly, quarterly, and yearly reporting thanks to powerful filtering and export features.
- Quick sharing: Reports can be either - exported to files and printed, or sent by email; - shared with the manager online (in real time); - optionally shared online as team-wide status reports, i.e., all team members share their progress with each other to spend less time on meetings.
How to configure reports on ProsperForms:Step 1:
- Choose a form (100+ forms available) — customize our preset forms or easily create a new form in minutes.
- Setup reminders if you want your team members to receive automatic reminders when their reports are due.
- Configure who will submit reports by choosing the “Participants” tab.