| Feb-20-2024

5 Must Have Insights in Your Dashboard

A good dashboard is like your business's command center in today's data-driven business world. It helps you keep an eye on everything that matters. To truly understand how your company is doing, here are five important things to put on your dashboard:

Comparison

Comparative analysis plays a vital role in your dashboard. It involves assessing the performance of your various branches in relation to one another. Additionally, if your business spans different verticals, TallyPrime's intuitive and powerful Dashboard allows you to conveniently compare their performance for efficient analysis. This lets you compare factors such as revenue, profitability, debt and much and customer satisfaction across your branches or verticals. 

This report is a valuable tool for uncovering your strengths, identifying weaknesses, and pinpointing areas that require enhancement. It empowers you to spot growth opportunities and maintain competitiveness within your industry. 

Now, let's talk about year-over-year comparison.

Keeping an eye on yearly performance is crucial. Year-over-year comparisons offer a valuable means to gauge your business's growth and development over time. This method enables you to assess how your company has evolved, shedding light on areas of improvement and potential adjustments.

Your report should encompass crucial data, including revenue, profit margins, costs and other key performance metrics. The exciting part is that TallyPrime's Dashboard allows you to conveniently compare all this important data year by year on a single screen. This helps you spot trends, strategize for future growth, and make well-informed, data-driven decisions that align with your long-term objectives.

Net profit trend

TallyPrime's intuitive and powerful dashboard excels in showcasing the trend in your net profit. By incorporating Net Profit Trend on your dashboard, you can easily identify how your net profit is evolving over time. TallyPrime's efficiency in data visualization allows you to spot trends, whether they are positive or negative, and make timely strategic decisions. This feature empowers you to adapt your business strategies in response to changing market conditions and internal performance, ensuring that your company remains on a path to sustained profitability. 

Receivables and payables

Efficient management of receivables and payables is vital for maintaining a healthy cash flow and financial control. TallyPrime's user-friendly dashboard simplifies tracking these critical financial metrics. It allows you to monitor receivables and overdue, so that you can take timely actions for debt collection. Additionally, you can track payables to ensure timely payments to suppliers, avoiding late fees and maintaining strong supplier relationships. TallyPrime's intuitive and powerful dashboard helps you in keeping track of these processes, so that you can efficiently maintain financial control, manage cash flow effectively, and make informed decisions for the overall financial health of your organization. 

Order outstanding 

TallyPrime's user-friendly dashboard provides a streamlined approach to tracking order outstanding, encompassing both pending sales orders and pending purchase orders. Pending sales orders represent unfulfilled customer commitments, signifying potential revenue, while pending purchase orders are commitments to suppliers for goods or services yet to be received. Monitoring these orders is essential to meet customer expectations, ensure timely deliveries, and maintain a streamlined supply chain. TallyPrime's intuitive and powerful dashboard helps monitor these processes, ensuring you meet your commitments to both customers and suppliers, optimizing your supply chain, and enhancing your operational efficiency 

Cash flow

Cash is like the heartbeat of your business. The Cash Flow Statement gives you the big picture of how money is coming in and going out in your company. It includes details on operating activities (cash generated from day-to-day business operations), investing activities (cash used for investments such as equipment or acquisitions), and financing activities (cash from sources like loans or equity). With TallyPrime intuitive and powerful dashboard, you can have a clear Cash Flow Statement on your screen that can help you check how much cash you've got and how financially fit your company is. It's a powerful tool for handling cash well, getting ready for unexpected things, and making smart choices about where to invest your money. 

Incorporating these essential reports and insights into your dashboard is the first step towards informed decision-making, and with TallyPrime, you can take this process to the next level. TallyPrime’s intuitive and powerful dashboards transforms your business data into intuitive, visually engaging formats. What sets it apart is its full flexibility and customizability, catering to the unique needs of every business and user. With Tally Prime, you have the tools to not only monitor your company's vital metrics but also adapt your dashboard to the ever-evolving landscape of your industry. It's a powerful ally in your pursuit of success, ensuring that your dashboard remains a dynamic and invaluable resource for your business.