Controllers and Chief Financial Officers are usually in charge of overseeing management reporting systems. However, since almost every business management reporting system depends sometimes wholly on technology, it is increasingly those with a technology background who are actually in charge of making sure these systems run smoothly. Management reporting systems are used to keep track of financials, products, clients, and employee headcounts, to name just a few categories. Gone are the days of keeping only hard copies of reports in filing cabinets. Basically anything and everything that needs to be “managed” requires some form of management reporting systems.
Chief Financial Officers might technically be in charge of these systems, but it is much more likely that a network or database administrator is the person overseeing the system day in and day out. Technicians, engineers, programmers, and developers are also working on different aspects of the system to make sure everything is maintained and up to date. Accountants might also depend on one of these employees to automate the management of revenue, expenses, taxes, and payroll.
A management reporting system is used in every single company, non-profit organization, corporation, and business, though the complexity and technology of the system can vary drastically. Even a small non-profit run by one person needs to organize bookkeeping, grant proposals and awards, and clients. A “system” might consist of a simple Excel spreadsheet but that can only get a business so far. It takes the skills of a professional with a technology background to streamline the process, make it more efficient, and open up time for employees to dedicate their skills to other matters.
Management Reporting Systems Job Duties
A lot of employees are involved in management reporting systems, which means that individuals in these roles need to have strong people skills. Some people might be drawn to the field of technician or engineer because they are skilled in mathematics and enjoy working alone. However, people skills often play an important role in technology careers. Many technicians, programmers, and engineers spend the majority of their time working with financial analysts, executives or accountants.
One of the biggest problems for professionals developing management reporting systems is a lack of information. Overall, systems are designed to provide businesses with a variety of analyses. These systems are for internal use and a lot of the time certain forms, such as taxes or human resources materials, simply do not include enough information to develop a comprehensive analysis in a system. Developers also have to depend on various employees and departments to provide them with inclusive information in a timely manner.
Career Outlook for Management Reporting Systems
Since there is no official title for professionals involved in management reporting systems, it’s difficult to gauge an average salary and job growth. However, the technology field overall is growing at a rate well beyond the average of other fields and salaries are relatively high across the board.
According to the Bureau of Labor Services, the IT field is set to rapidly grow in the next ten years in every field. The demand for Database Administrators, who are very likely to be charged with the “nuts and bolts” of management reporting systems, is set to grow 31% by 2020. A Database Administrator’s average salary is $73,490. The need for IT Managers, another prime choice to head up management reporting systems, is expected to grow 18% in the same time period. The average salary for an IT Manager is $115,780. Neither of these positions necessarily requires an advanced degree. There are also many other job titles with high salaries and no advanced degree requirement that may be involved in management systems reporting:
All statistics are from the US Bureau of Labor Statistics.
Software Developer/Systems Software: Growth 32%, average salary $94,180
Network & Computer System Administrator: Growth 20%, average salary $69,160
Software Developer: Growth 28%, average salary $87,790
Computer Systems Analyst: Growth 22%, average salary $77,740
Computer & Information Systems Manager: Growth 18%, average salary $115,780
These are just a few of the possible job titles that might be part of operating, developing, and maintaining a system.