Business Performance Dashboard: Xero’s New Wave of Innovation

Preview of Xero’s Business Performance dashboard (via Xero)

One of the highlights of the recently concluded Xerocon Auckland 2015 is the preview of Xero Business Performance dashboard, which provides executives a visual snapshot of their businesses’ financial health using a simple, integrated interface in real time. Now, it has been made available to all Xero customers and advisors.

Using the tool is equally stress-free as you can add key financial ratios and business performance indicators straight onto the Xero dashboard, like how quickly you get paid, how much mark-up you earn on sales, how easily you can pay upcoming bills, to name a few.

“It has always been our vision to give our customers more than just an online accounting application. We want to help your business take the next steps toward being profitable and successful,” says Andrew Tokeley, product manager of Xero Business.

With the Business Performance Dashboard, you can quickly see how your business is performing using a range of key performance metrics. Here are some of the advantages of this powerful tool:

  • Pulls all the relevant data in one place, and arrange them in a way that is visible and easy to understand
  • Improvement is continuous since results are accessible
  • Collaborate with your advisor easily when you need help with interpreting the ratios and what they mean for your business.
  • Evaluate performance against standard financial ratios including gross profit, net profit on net sales, and debt to equity
  • Saves time as you have what you need right in front of you

What’s more, it is customisable – you can add, remove, and rearrange key metrics you want on your dashboard. And if things aren’t performing as you expect, you can flip the indicator and it will reveal how you can improve things, or ask your advisor to review the particular aspect. With better visibility comes better control, giving you and your advisor the right information to make decisions with confidence.

With Xero’s Business Performance dashboard, it is easier to understand how your business is performing as you can collaborate with your advisor effortlessly and measure your business at a glance.

The Outsourced Accountant supports Australian and New Zealand accounting firms by helping them understand and implement outsourcing solutions to help them become more proactive and truly add value to their clients. If you want to know more about outsourcing, call us at 1300 896 522/0800 452 853, and download our e-book.

REFERENCES:24

http://www.forbes.com/sites/davelavinsky/2013/09/06/executive-dashboards-what-they-are-why-every-business-needs-one/

Xerocon Auckland 2015 – day one highlights

https://www.xero.com/accounting-software/business-performance/

The Business Performance dashboard is here

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