A thief was caught after stealing some paintings from the Louvre in Paris, when his getaway van ran out of fuel. Given bail at his first hearing, a reporter asked him on the steps of the courthouse how he forgot such a vital part of his plan.
“Simple,” said the thief, “I had no Monet for Degas to make the Van Gogh.” (Ack CB)
I really enjoy this little story as it demonstrates the natural requirement for proper preparation or planning. Something that is such a fundamental function which is so often not implemented on a daily basis, resulting in additional costs for corrective actions and much retrospective umm’ng and ahhh’ng . So, how can we make this planning process fit into our daily lives, and, how can we get that information so that we can avoid as many ‘I’ll informed’ decisions as possible? I’m glad you asked (well, you’re thinking it aren’t you… J ). Softline have long known the importance of these decisions and the necessary tools to make them. They’re so committed to providing their clients (you guys) with these tools, that they’ve purchased Alchemex, the company responsible for the creation of the Business Intelligence Centre module, and brought them ‘in house’.
Over the next couple of weeks, or maybe even longer (if there is a demand), I’m going to be writing a sequence of Blogs on ‘How to use the Business Intelligence Centre (BIC) for Reporting’ within your business, along with some tips on how to make it really work for you.
Today’s Blog will be about the Dashboard report. It’s a standard report that ships with the BIC module, and, at the click of a button will give you a quick summary overview of your business, including:
1 Your Profit & Loss at a glance (including Budget, Variance, &, YTD with variance)
- This gives you a quick look at whether or not your bottom line is in the red, or, the black. And, you can see whether or not you’re on your projected YTD figures.
2 Your Top 5 Expenses (including Budget, Variance, &, YTD with variance)
- Knowing your Top 5 Expenses with their Budgets and Variances gives you the opportunity to quickly spot anomalies in your companies spending. The quicker any expense anomalies are spotted, the sooner they can be attended too.
3 Your top 5 Customers & Customer Categories
- Knowing who your top performers are, or, which Category of client is generating your most income, is an important part of understanding your business.
4 Your top 5 selling Inventory items & Item Categories
5 Your bottom 5 selling inventory items & Item Groups
(the figures displayed in this report are from a demo company)
The information that is supplied by this report at a glance, will assist you with quickly identifying Key Performance Indicators (KPI’s) and identify area’s of concern, so that you can make the necessary decisions based on realtime information.
As with most reports, this Dashboard report can of course be customised to include other KPI’s within your organisation.
In my next Blog, I’ll cover the Management Pack (Income Statement & Balance Sheet) options. I’ll even give you a couple of tips to customise it by Branch/Department 🙂
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One of my favourite quotes:
“Nothing will ever be attempted if all possible objections must first be overcome”