Nowadays business companies have a sea of data, metrics, vital indexes and strive to put them together for an understandable picture. Power BI financial dashboard is the key for such cases. To get a plethora of data the interactive dashboard collects all the information and visualizations to your daily updated report.
Financial dashboard will guide you to your financial goals showing the state of your business and financial health.
What is a Finance Dashboard?
It is a visualization tool that makes it easier to identify trends and spot potential issues. Power BI’s advanced data analytics helps our clients look for efficiency improvements, places to cut costs, fraud, and areas for increases in income.
The P&L report is connected with the calculation of sales, gross profit, financial incomes, and expenses to get the net profit.
The main metrics here are revenues from sales, cost of goods sold, gross profit and expenses of the company connected with operational (administrative salaries, rents, etc.) and non-operational activity, financial and other incomes, and costs to calculate net profit. Net profit is the result of P&L.
Cost of sales is not always shown by products, because there are general manufacturing expenses too. Moreover, manufacturing companies can use different principles to define Cost.
The Cashflow report clearly illustrates the situation why the company finishes the year with a profit but with no money in its accounts.
Factorial Analysis
It shows how the sales in units, the price, the discounts, the dollar exchange rate, the production cost, the expenditures on marketing, distribution, logistics, and other factors influence the aggregate financial result.
It enables the company to:
- Get an understanding of the factors’ impact on the gross profit on a day-to-day basis
- Control the margin for different sales channels
- Keep track of the dynamics of sales and production costs
- Keep track of the dynamics of the factors
- Keep track of the marginality of a particular transaction, goods or service
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The main metrics in financial dashboards may include:
- Income cash flow
- Outcome cash flow
- Net cash flow
- Cash balances
- Revenue
- Cost of sales
- Gross profit = Sales profit – cost of goods sold (works, services)
- Margin reduction
- Other incomes and expenses
- Net profit
- Profitability of sales
- Receivables
- Payables
- Accounts receivable turnover
- Accounts payable turnover
What does the Financial reporting dashboard show and what is it for?
In general it provides a chance to control the revenue, cost price, margin, the gross profit and other financial performance metrics and KPIs. There are three financial dashboard examples: P&L dashboard, Cashflow dashboard and Factorial Analysis to full-featured report consolidation for a group of companies.
All the mentioned above interactive reports give you vital KPIs any time updated and consolidated into a one screen reflecting your company’s financial state.
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It gives you a concise view of result based reports which can reflect metrics by dates, in the regions, branches, KPIs, sales growth, and so on.
Main breakdowns could be:
- dynamics
- organizations
- of vendors / clients
- projects
- lines of business
- departments
- product groups
- order statuses
- services
- sales managers
General types of analyses are not just the fact, but also comparison of fact and last year, fact and plan, fact and last month, fact and deviations.
See more digital marketing dashboard examples to suit your needs and identify spend on and top/bottom performing products across each marketing funnel.
What are the target roles and dashboard users?
Clutch Review:
What does the Financial reporting dashboard show and what is it for?
Generally, all the key persons of the company need to track and provide financial control of business workflow.
Financial dashboards target roles and users positions in the organization are:
- Owner
- Board members
- CEO
- CFO
- COO
- Financiers
“Cobit Solutions has an instrument that allows for identifying unobvious problems. This is often sufficient to save a business and provide it with an impulse for further development” – says Dmytro Chashnyk, CEO of Cobit Solutions, an Expert in IT with 19 years of experience, 10 years in CIO/CTO positions.
Other types of Financial dashboard:
Financial DASHBOARD VARIATIONS
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- You might also be interested how to improve overall performance in manufacturing industry
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