As a small business, you probably have a single computing device, a couple of staff members, and limited capital to get by. At this point, you probably can’t afford to have a full-fledged finance department that takes care of all the financial analysis, tabulation, reporting, and processes.
In most cases, a well-designed financial dashboard is sufficient to help your business keep track of the finances, financial feasibility, expenses, and income. They’re easy to use, understand, and even customize.
Here’s why your small business needs a financial dashboard:
What does a financial dashboard comprise?
A well-designed and curated financial dashboard comprises real-time data and summarizes your company’s revenue, expense, and profit profile. It also presents a drill-down summary of your customer and vendor transactions.
You can also categorize and tabulate your financial performance in terms of the monthly, quarterly, and yearly data. The financial dashboard also allows you to compare your budgetary data with actual performance and your income with expenses—for a given period.
You can also obtain a full suite of financial reports, ratio analysis, cash flow statements, and other balance sheet graphs.
Intelligent business decisions
A well-curated financial dashboard presents all the financial information that your business needs in a single snapshot. It gives you a single-glance view of all the key financial performance indicators. This gives you clearer visibility into your business profitability and how well the company is doing in terms of its financial health.
A quick view into the business finances helps you make quicker and more well-informed decisions. It enables you to take immediate corrective measures and improve your financial performance.
The dashboard can also be shared across the board to keep the team well-informed and engaged.
Accessibility
The pandemic is still lingering around, which means we are all still remotely working. One of the most significant benefits of a financial dashboard is its shareability and remote access. Any staff member or business partner who is either away for a meeting or working from home can easily access the financial dashboard on the go.
You can easily facilitate this by sharing your business dashboards via the cloud. As long as you have access to cloud computing processes, there will be no need to download or email the dashboards. Since most small businesses don’t have cloud computing resources, the dashboards can also be instantly shared via emails, google drives, and USB devices.
If you’re a new business startup, you probably don’t have a lot of expertise in the field of Excel dashboards. Well, a perfectly designed and organized financial dashboard from Biz Infographic can help you manage your finances seamlessly.
Our dashboards are fully editable, easy to navigate, and customizable. The designs are eye-catching and visually appealing. You can consolidate all of your essential financial indicators within a single dashboard for clarity. All you need to do is plug in your data, and it’ll instantly start running. Take a look!