This article will focus on enabling smarter decision-making through the use of dashboards in monthly financial presentations.
Graphics are basically everywhere you turn, populating kitchen pantries and our wardrobes, too.
Why is it important to have month-end financial presentations?
Louie: It is essential to have month-end financial presentations because decision-makers and stakeholders of the company can get an accurate idea of how the organization is performing from a financial standpoint, including what areas of the company are succeeding or maybe require some additional attention. Moreover, a financial presentation is essential to highlighting variances or trends when comparing actuals and budgeted and/or forecasted expectations. Having monthly presentations enables managers and executive teams with enough time to contribute new data or make corrections if necessary before a calendar quarter or year is complete.
What are some perks to utilizing a dashboard in your month-end financials?
Louie: Using a dashboards allows me to quickly point out to my audience of decision-makers the operational areas that deserve additional attention – all in a streamlined presentation. It also enables me to pinpoint special trends that I have noticed in specific areas, such as account receivable, revenues, direct costs, or operating expenses. There are a lot of ways to slice and dice the financial data that I am bringing together, but having a dashboard makes it visually simpler and more concise when presenting a financial summary to the executive team.
If you would like to learn more about the benefits of dashboards in your month-end financial presentations,