I love a good dashboard with charts...it might just be part of my extremely nerdy personality. But it’s not only nerds who love dashboards, they pop up all over the place. Whether you’re looking at financial results or website traffic, a good dashboard makes the data easier to read and understand. Here are 3 reasons to consider having a financial dashboard.
If you're all about the visuals
Most of my clients are creative and visual people, so presenting their financials in a visual manner, versus just reading a financial statement, is huge for them. The ability to see their income grow, to see quick and simple math on whether or not they’ll hit their goal at their current pace is so helpful.
Draw insights
Sometimes looking at the same data in a new way makes it easier to draw connections. Perhaps seeing your revenue climb graphically throughout the year can help you pinpoint what you’re doing in your business that is really bringing in customers. Perhaps a spike in May will remind you that you were doing a lot of podcast interviews at that time and it brought in new customers. Perhaps you should try that again. Anything that gets to you to sit down and think about what’s working in your business is a win.
Allows you to focus on what’s important
A customizable dashboard brings the info you need right to the surface. As my clients are all online service providers one of their big-spending areas is on software and apps. With a customized dashboard we can pull out the information in just that category so they can better monitor and control their spending. Usually, this data is buried in a financial statement and requires some digging to keep an eye on. But a dashboard pulls that info front and center, helping you to better manage your cash flow.
Creating customized dashboards is a feature of my Monthly Bookkeeping Service. I love providing my clients with the opportunity to see their financial data in a new way. Read more about dashboards, goal setting, and all the other features of my bookkeeping service here.