Non-financial management information
What is non-financial management information (NFMI)?
NFMI is wide and varied and can be industry-specific. Typically, NFMI can include:
Employee headcount
Data about the diversity of employees
R&D spend
Social investment data
Sales volume data
Market position data
Customer numbers
Supply chain data
Compliance and ethics data
Environmental performance data
Why is NFMI important?
Global companies have vast economic powers across many countries. Public leaders and opinion formers within the countries in which global companies operate determine whether a company is socially responsible by looking not at companies' market performance, but at their corporate responsibility attributes:
Do they demonstrate responsible behaviour? What is the environmental and safety performance of the company?
How is the company governed? How does the company prove that is operating in an ethical fashion?
How does the company integrate into the societies in which it operates? Does the company employ local people, and does it spend with local suppliers and contractors?
Companies need to report on NFMI in a controlled manner, as NFMI can create a risk to reputation or regulatory issues when disclosed incorrectly. Additionally, inaccurate NFMI may create the risk of inappropriate decisions being made when used internally.
Our approach
We use our proven Sarbanes-Oxley methodology on NFMI
We will tailor our methodology to suit your requirements in terms of desired data quality and its impact on mis-statement.
We will implement the project using one of our proven project management methodologies.
A typical approach would be:
1. Define the project scope
2. Define the metric prioritisation
3. Agree the implementation strategy
4. Implement and deliver the project.