The days of finding out sales numbers by asking Jim at the coffee maker are more than over. They’re dead.
And further, if you’re still getting your results, forecasts, and inventory numbers through a meeting with a key person you can count on it being out of date to worthless for understanding the pulse of your business. It’s like finding out the barn door is open after the horse is gone.
Executives require wider and deeper accessibility to important data for improved decision-making. Better data in your hands as an executives leads to improved communication that makes your organization stronger. Enhanced business intelligence will lead to growth and boost your bottom line.
Executives need to know their business which is an obvious point; but, what data do you need to know to Know Your Business?
Different businesses and industries require slightly different KPI’s but there are certain key elements shared by all businesses.
As part of the RadiusBridge® Discovery, we work to identify the KPI’s that are uniquely important to your business.
Common Executive Data Points
Employee and Customer Happiness; Safety Reports; Sales Revenue; Net Profit Margin; Gross Margin; Sales Growth; Customer Acquisition Cost; Net Promoter Score; Qualified Leads Per Month; Met and Overdue Milestones; Inventory Cycle; EBITDA — with Plan vs Actual with 5 yr trends for each where applicable.
Don’t neglect projecting current trends into the future, i.e, given current trend, how will this metric compare to Plan for next quarter, and next year?
What numbers you track, how you interpret cross department relationships, and apply corrections are part of the differential advantage that makes your business different than your competitor.
From manufacturing to services to SaaS providers, RadiusBridge® helps Executives extract and use the data they need to better manage their businesses for success.