Access financial reports with clear insights into the state of business operations and areas of concern.
What is a financial dashboard?
They say “a picture is worth a thousand words”. Instead, we like to say that “one dashboard is worth a thousand spreadsheets”. The strength of a dashboard lies within the visual presentation and the limitation of information that really matters.
EBITWISE defines a dashboard as “a real time one page visual representation of information which helps taking decisions”.
You could see this as a car’s dashboards. In the blink of an eye you want to see your speed, your RPM, your fuel level, often added by information on your navigation; how far is my next turn?
Why do you need a financial dashboard?
Many companies try gaining insight by creating complex spreadsheets that only an experienced financial could understand. Making decisions based on these reports is therefore a time-consuming and error-prone process. At EBITWISE we believe this old-fashioned way of reporting and analyzing can be done differently, namely in a dashboard.
Instead of processing data in a spreadsheet, we create a real-time financial dashboard that shows the financial position and relevant KPIs at a glance. This is to give the founder the peace of mind and insight required to make the right decisions. Examples are hiring more staff, adjusting prices or adjusting the sales strategy.
The data that we use in our dashboards is pulled automatically from the bookkeeping system and other relevant systems. This avoids doing manual work and ensures the information is up-to-date and reliable.
Scale-ups and dashboards
In order to make the right decisions to grow your scale-up, having the most up-to-date financial figures is of great importance. Crunching the numbers from your bookkeeping software in an Excel is a manual, lengthy, complicated and error-prone process. Important information is often overlooked. In addition, these bookkeeping softwares do not provide information from other relevant sources such as a sales funnel or a transactional database, while this information is valuable.
A dashboard merges data from different sources and through this can provide up-to-date information needed to make decisions.
We help the founder map out the information needs before presenting it in a dashboard.
What does a financial dashboard show?
Our financial dashboards are able to replace the entire existing reporting. This can range from the state of your profit and loss, your balance sheet, and your cash flow for the upcoming months. All of these figures are compared against the budget and last period.
In addition, our financial dashboards can provide insight into the sales pipeline, employee billability and profitability per product/service.
Our financial dashboards are included in our FinOps product.
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