Do This, Not That: Use KPIs and Trends to Drive Better Decisions
Do This:
Use Performance Center and KPI Scorecard to build dashboards around the metrics that matter most to your business. Track KPIs such as revenue, gross profit, cash flow, accounts receivable, and accounts payable, then monitor trends over time to identify opportunities and potential issues. Group and filter data by class, location, vendor, product, or service to understand what is driving results. Leverage AI-generated insights and recommendations to help uncover anomalies and focus your attention where it matters most.
Not That:
Don’t rely solely on static financial statements or leave outdated charts on your dashboard. Reviewing reports only after month-end can cause important trends and performance issues to go unnoticed. Ignoring benchmarking data and AI insights may also cause you to miss opportunities for improvement.
Tip:
In KPI Scorecard, change the row display to 30 so you can see more metrics at once. If you can’t find Performance Center or KPI Scorecard, use the QuickBooks search bar, as these tools can be difficult to locate within the menu structure.
Your dashboard should help you monitor performance, spot trends, and make decisions faster. Need help setting up dashboards or tracking the right KPIs? One 8 Solutions is here for that. Let’s connect!
