KPIs in Excel Dashboard Reporting
Excel dashboard reporting KPIs: Excel can be a crucial software for a corporation since most of the financial records and databases are displayed through it.
The utilization of the method can vary from one team representative to another. Here are some of the reasons to consider Excel Dashboard Reporting, and some of the most reliable KPIs.
Why Utilize Excel Dashboard Reporting?
Data Sharing Transparency
As an employer, one should be able to access all the possible information a business acquires. However, there are some dashboard reports which are not under the employers’ control.
These dashboards are subject to market changes or other externalities. Hence, in order to keep track and maintain stability in business, sharing appropriate and accurate information with the employees is recommended. This can be reported through the excel software as it is convenient and reliable.
Providing Incentive Information for Motivation
In excel dashboard reporting, there can be incentive-based bonuses for employees if they can fulfill the target goals. This will display the employee’s dedication towards the business and also their own potential through proper plotting of data.
This will boost the employees’ confidence and will enable them to work harder. Furthermore, it can also be an indicator for employers to measure the employees’ effectiveness and the level of contribution they have in an organization.
Team Leaders Focusing on Employees and Operations
For an organization, its operational strategies play a pivotal role since it decides the upcoming days of a company, both financially and operationally.
The team leaders will be able to comprehend team performance levels and set the organizational goals accordingly.
This dashboard reporting software can include detailed descriptions of workplace interferences, the production period of a particular product line, etc. This makes the manager’s job a bit easier since he/she now can compare the individual performances of the employees.
Some KPIs to Observe in Excel Dashboard Reporting
Gross Profit Margin Percentage
Gross profit is really difference between your sales revenue and cost of goods sold. This percentage is the ratio between gross profit and sales.
This KPI is a good indicator for showcasing various dimensions of the business as it portrays the cash flow invested in selling inventory and the revenue collected from doing so.
The current ratio is the ratio between current assets and current liabilities. It indicates the amount a business has to pay off its short-term debts. It is a great way to measure the liquidity of the business and is a KPI for assessing the market position of a corporation.
Return on Equity
This is a KPI indicator which displays the amount gained in comparison to the amount invested by shareholders or owner of the business. The greater it is, the better it is for a business since it would mean that the firm is performing well and is capable of providing dividends in due time.
As a summary, excel dashboard reporting is a great way to measure a company’s financial standing in the market as it helps the organizational leaders to do cross-sectional analysis with relevant information.