Dashboard Management: 5 areas of business you should track right now

Dashboards. We see and use them every day. But we’re not talking about your car dashboard. We’re talking about the dashboards we glance at whenever we open an app on our phone or software program on our computer. Most of the time we just want to check one stat or key indicator, like the number of steps you’ve taken today or the current score. In one glance you get the info that you need to make your next move.

So, what is your Business Intelligence (BI) able to tell you about your business right now?

But do you get the same utility and gratification out of your CRM Dashboard? Right at your fingertips you have a customizable tool that provides a snapshot of your business’ key performance indicators, all in real-time. You can visualize the sales process and track opportunities and performance with graphic charts. It’s the important data you want, when you want it, concise and at a glance.

Isn’t it time to utilize your CRM Dashboard to the same extent as your favorite mobile apps? Here are 5 key performance indicators that should be on your CRM Dashboard:

#1: Leads

Leads are the lifeblood of every business, no matter what you make or what you sell, and it’s probably the key performance indicator that most interests you. Customize your CRM Dashboard to provide you and your salespeople with a bird’s eye view of each potential customer.

Monitor new leads by:

  • Date Range – How many new leads came in within the last week, month, or quarter?
  • Status in the Pipeline – Has a salesperson been assigned? Has the lead been contacted? How many times?
  • Salesperson – How many leads is each salesperson working? How many did he/she close?
  • Number of closed leads

Which lead key indicators would you like to access at a glance?

#2: Lost Leads

There’s almost nothing worse than confronting your own failures, but with each lost sale comes a learning experience – an opportunity to fine tune your pitch or product, weed out the weakest link, and increase your chances for the next time. Seeing lost leads may just be the motivation that you and your team need to make the requisite changes.

Track lost leads by:

  • Date Range – How many within the last week, month, or quarter?
  • Salesperson – Which team member? How many did he/she fail to close?
  • Reason Why? – At which point in the pipeline? Was price a factor? Was the wrong product or service pitched? Was it a dead lead from the beginning? Etc.

What data is critical for your team to see and contemplate lost leads?
#3: Opportunities

Do you have customers with standing orders? Or do you have a new product arriving that you think would be perfect for an existing customer? Your customizable CRM Dashboard can keep you up-to-date on upcoming opportunities with just one glance, giving you the info you need to turn that opportunity into a sale. It’s important for you and your team to see which sales opportunities loom on the horizon.

View upcoming sales opportunities by:

  • Open orders – Arrange open orders by salesperson, date range, region, or dollar value, etc.
  • Important dates – expected arrival, completion, and/or shipping dates
  • Marketing campaign – Always find out, “How did you hear about us?”

Which key indicators are most important to keep your sales opportunities in focus?

#4: Cash Flow

You have ambitious goals for the future of your business, but you cannot overlook the here and now. It’s immensely important for you to keep an eye on short-term cash flow to pave the way for the future. Your CRM Dashboard can dial in on your company’s cash flow, tracking the long-term while keeping the short-term in perspective.

Monitor your company’s cash flow by:

  • Payables – Arrange invoices by due date, vendor, etc.
  • Receivables – Organize invoices by date range, customer, overdue payments, etc.
  • Projected sales – Chart by month, quarter(s), or year

What data is vital to keeping an eye on your cash flow?

#5: Sales of top products/services

You may sell hundreds, dozens, or only a handful of products or services. No matter how much your inventory or repertoire contains, you should have a firm grasp of what the best-selling (and even worst-selling) are. Utilize your CRM Dashboard to keep tabs on your top ten products/services in real-time.

Track your top best-selling products or services by:

  • Sales in a specific date range – by week, month, or quarter
  • Salesperson – Who’s selling what? Who’s selling the most or least? Which team members specialize in certain products? Assign them to sell your top money-making products.
  • Quota comparisons – How do sales compare to quotas, by week, month, or quarter? Which salespeople are meeting, failing to meet, or exceeding quotas?
  • Largest margins – Which products or services make your business the most money? Let’s sell more of those!

Whether assisting business decision makers with accounting software solutions or with ideas to increase efficiencies in the workplace, ASC is your trusted advisor and guide in finding accounting software for your business. Visit us at www.accountingsoftwareconnections.com and see how we can help your business grow and prosper!

SO: Which of these key performance indicators will keep your best-selling products and services in focus?

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