Running a business successfully requires constant analysis of the work, sales and financials and can be overwhelming. Business metrics or key performance indicators (KPIs) refer to the measurable values that show the progress of business goals and indicate whether a company has achieved what it set out to in a planned time frame. Some of these include; sales revenue, net profit margin, gross margin, monthly recurring revenue and so on.
Without applying KPIs, it’s difficult to track the progress of your business or be aware of areas needing attention. This is where Xero Online Accounting Software can help. Your Xero business dashboard is customisable to suit your needs and displays a snapshot of the financials and transactions of your business. You are able to:
- Monitor cash flow with simple charts and graphs
Use visual representations to track performance across several business metrics such as gross profit, net profit on net sales and debt to equity.
- View up-to-date balances and reconciliations across all your accounts
Get deeper insights and in-depth analysis of your numbers so that you can make informed decisions.
- Compare and Calculate
Formulas let you calculate variances between any columns on your reports- whether actuals versus budget or actuals versus other actual.
- Set Goals and Track Performance
Chat to your Xero advisor about which metrics you would like to track and set up on your dashboard in order to track performance goals.
- Customise to Suit your Business
Get insights you need to grow your business. Set up custom columns, formulas and text blocks to make and edit reports. These can be set as defaults for your business. View and share interactive reports and budgets in real time.
- Keep Track of Progress
Quickly prepare or import a detailed budget to compare financial performance against actual or selected periods
- Track specific areas of your Business by customising your Online Accounting Dashboard
Xero uses tracking categories instead of department codes or cost centres. You can have two active tracking categories and up to 100 tracking options for each category. You can then review and filter reports by tracking category and category option to see the performance of different areas of your business.
Keeping track of the key performance indicators of your business is vital and, thanks to Xero, has never been this simple. Get in touch with us at email@example.com if you would like assistance with your business accounting and bookkeeping.