iDashboards is bringing the advantages of the very best in big business to “the little guy”. Nothing against the big companies of the world but consider the advantages large companies have regarding efficiencies, analysis, reporting, and straight up crunching the numbers. Now consider what small businesses face; working on their own, waiting weeks for an outside accountant to produce a P&L, reviewing “history” rather than proactively seeing what needs to be adjusted to correct and redirect. All while trying to actually work the business.
Often times small companies are thrown by the daily ups and downs of business…and analysis of the best way to make business decisions is pushed to the side and labeled as too time consuming, too cumbersome and too low a priority. What’s left is decision making based on “gut feel.”
The expression “close only counts in horseshoes and hand grenades” comes to mind. Driving by “gut feel” is just plain inefficient – with errors occurring on both sides of the decision making process. Imagine ordering too much inventory based on “gut feel” and watching it sit…equally damaging is not ordering enough and watching potential sales walk out the door because your ordering was not driven by actual metrics. Lost sales, inventory cost, spoilage, push through, employee scheduling, cost of money, competitive purchasing analysis; all of these metrics and 100’s more lead to real money loss for a small business.
Until now becoming a metrics driven company has been too prohibitive. There was no “right tool” for the job available. It required real labor hours to pull the data together every month and still more to understand the story the data was trying to tell.
All that has changed now.
Read next: What It Takes To Be A Pro “Dashboarder”
Directly below is an example of a restaurant dashboard. It shows, in a single screen, data pulled from all of their various systems…and correlates it. Sales trends, profitability, labor metrics, per square foot revenues and analytics on their menu engineering (product cost) are available within this dashboard…all fed by their variety of systems already in place.
Imagine, what would it feel like to check your smart phone or tablet over a morning coffee and see exactly what you were looking for? Your daily results at the click of a button. Your inventory, labor, profitability and beyond. What’s more…aggregation of that data. A “techy” word that means you can pull and use all the information from across those 3, 4, 5 softwares you have in place. What does it take today to look at your labor, inventory, sales, and accounts receivable all at the same time?
If it’s a daunting thought…start thinking about iDashboards. Because it never needs to be again.
I have watched with a great deal of personal satisfaction as small businesses have pulled their existing data sources together within iDashboards, automated the upload of that information and from their smart phone reviewed dailies on a daily basis. The process that used to involve massive time consumption and employees ranging from bookkeepers, accountants, chefs, store managers, payroll companies and more is now seamlessly pulled together without changing the system….just visualizing the systems already in place. I’ve watched them make money and save money…and that makes it all worth it.
Bill Matthews – Account Manager, iDashboards