A finance dashboard is a term used for a management tool that is used for the monitoring of all related KPIs (Key Performance Indicators) that facilitate cash management and enable the financial targets of a company to be met and surpassed in detail by monitoring expenses, revenue and profits.
Financial experts and small and large businesses alike are under enormous pressure to be able to give fast insights and financial reports that are both transparent and accurate while pushing the performance of the business higher than ever. Using a finance dashboard is vital and can give even a global business a number of huge advantages.
Making better decisions with a finance dashboard
The leverage of emerging technology with finance dashboards will result in the production of more strategic and accurate business decisions. Producing detailed reports manually can be extremely time-consuming and the data visualisation instruments provided by simple spreadsheet tools are missing a number of key features.
This is why finance dashboards have become the new standard for global businesses looking to direct potential strategies and make improvements to productivity. A high-quality finance dashboard is able to analyse and compile the most vital data from a number of different sources in real-time, allowing for better financial decisions to be made.
The broader perspective
Possibly the biggest advantage offered by a finance dashboard over custom reports and spreadsheets is the broad view of all your business’s key performance indicators that a finance dashboard can provide. All of the crucial metrics will be instantly visible at the top of the dashboard and impossible to miss. For instance, it can show you all the subscription metrics of your SaaS business to help you figure out where you stand currently. Based on that, you can figure out how to grow your business further.
Staying up to date
The integration of real-time from a variety of sources means that global businesses are kept up to date. An excellent finance dashboard such as that offered by Agile Analytics offers businesses a detailed snapshot of the most current financial data for their organisation.
Having a broad perspective on critical metrics allows a business to stay agile and take action on serious issues immediately.
One of the most time-consuming aspects of running any business is the number of sources that need to be checked, with many individual pieces of data that have to be found and taken into consideration before critical decisions are able to be made.
However, with the use of a finance dashboard, an enormous amount of time can be saved because all data can be synced straight to it. This pulls in all relevant data in real-time, meaning that all crucial data can be accessed from one place.
Having an overview of all the data from a business is very useful, but the biggest advantage comes from the analytical power that allows that data to be taken advantage of. Data analytics does not just summarise information but also provides useful insights and predictions, removing uncertainty and allowing decisions to be made that are data-driven and secure.
Get in touch with Agile Analytics via their website or on +61 1300 902 217 to gain access to the best finance dashboard.