Current Ratio = Current Assets / Current Liabilities. There is a drop-down menun to select what time range you’d like to analyze: daily, month-to-date (MTD), week-to-date (WTD), year-to-date (YTD), and five-year. Do you want to drive down particular operational costs? One of the best things about modern data dashboards is the fact that you can tailor them to your preferences. Accounts Receivable Turnover = Net Credit Sales / Average Accounts Receivable, An indicator of the firm’s ability to meet its short-term liabilities. From budgets, assets, income statements, and cash flows, this CFO scorecard tracks it all. If you would like to power up your financial data analytics with modern solutions such as datapine, sign up for our free 14-day trial, and see what we can do for you. A CEO dashboard is an executive management tool used to measure, track, analyze, and visualize data to empower CEOs to make data-driven decisions with the help of interactive, high-level metrics from sales, marketing, finance, and other important business areas. Take the time to make these decisions, and you will be able to tailor your CFO dashboards for business intelligence. Applies to: MyAnalytics elements are available in varying levels to users of different Microsoft Office 365 and Microsoft 365 plans. The quick … Top CFO Dashboards Metrics. Now that we’ve explored one of our most effective examples of CFO reports, we’re going to take a quick glimpse at 7 of its pivotal financial graphs, starting with the gross profit margin percentage. Your company’s quick ratio is also an important element in your dashboard. The formula may vary depending on the types. When it comes to CFO-centric reporting, working with the right interactive KPIs is essential. Enable management and manager's access to financial information to make effective business decisions. Subscribe for the latest news, updates, tips and more delivered right to your inbox. Thank you for trying the new MyAnalytics experience. This is how much difference was there between the actual budget and the projected budget. It's important to monitor this CFO metric as it will show you the level of operational efficiency which you can always improve over time and try to lower the expenses. In today’s world, we have the ability to share information on an unprecedented scale. It will help you make decisions about the resources you have and how to allocate them. The percentage of financial reports that contained errors for a given time frame. Armed with access to these powerful CFO-centric insights, you will be able to start asking the right questions while identifying potential strengths, weaknesses, or trends that will ultimately accelerate the success of your business while increasing financial efficiency in a number of key areas. They ask and answer questions like, “Where are we headed as a business?”, “What do we like or not like about what this dashboard is telling us?”, and “Are we on track to meet our goals as a firm?” So, the data shown in the dashboard needs to provide them the ability to assess the firm’s progress towards those goals. CFO reports provide a mix of visual KPIs geared towards helping financial officers make confident, informed decisions based on a variety of core financial activities. The size of your company and source of your data (e.g. Part of your job as BI Analysts is to provide that information in a manner that allows decision-makers to take informed action. Do you need to monitor your payroll in more detail? A small table showing both Quick and Current Ratios, a progress indicator, and the stated target for each. If a CFO KPI dashboard is the analytical framework, the reports are your analytical eyes. In essence, a CFO dashboard is the analytical nerve center for all of your most invaluable financial data. Top 7 CFO Dashboard KPIs & Metrics Explained 1. The dashboard contains the Key KPI matrices and intuitive analytical tools which can be easily deciphered augmenting the strategic and analytical efforts related to the financial aspects of the business. One of the critical CFO KPIs, the gross profit margin, expressed in percentage, will tell you how much of total sales revenue you keep after accounting all direct costs associated with the production process (or delivered service). “The data analytics team is still working with the CFO on a strategy to go after another $50 million in inventory reductions” that Maine Pointe has identified, says Powrie. 9/16/2020; 3 minutes to read; In this article. Serving as a central, interactive hub for a host of essential fiscal information, CFO dashboards host dynamic financial KPIs and intuitive analytical tools, as well as consolidate data in a way that is digestible and improves the decision-making process. Fayez Tayyar, in this thought paper explains the five must-have dashboards for a CEO. “Torture the data, and it will confess to anything.”— Ronald Coase. Working Capital KPI. In this case, financial analytics software might help. With so much responsibility and such little time, financial data analysis is no easy feat. The key metrics featured at the top left of this cutting-edge CFO report template include cover gross profit, EBIT, operational expenses, and net income — a perfect storm of financial information. Learn more about CFO Analytics and crunchy questions that CFO's should be answering today with analytics. Check out Sisense BI for the finance sector. Present them in meaningful, easy-to-understand visualizations that allow for adequate analysis but the user. Sign up to get the latest news and developments in business analytics, data analysis and Sisense. Below are 8 common KPIs that CFOs should have ready access to. Let’s get started. Visualize Financial Data in a CFO Dashboard with Power BI. MyAnalytics dashboard. But, while working efficiently with fiscal data was once a colossal challenge, we live in the digital age and have incredible solutions available to us. Do you want to gain a better return on investment from your external investments? With Costpoint Analytics your data is current, it … For most of these metrics, whether a value is ‘good or ‘bad’, is heavily dependent on industry and past performance. Unlike other reports that give you a frozen snapshot of your data, the CFO dashboard let’s you explore that data as a living entity of your organization and gives you the ability to expand out to view trends over time. This powerful CFO dashboard example allows you to connect another dashboard within its framework with ease while integrating additional insights, including market indicators, consumer analysis, investor relations, monetary management, and more. Looking for a robust tool for financial data modeling and dashboarding? 3 cfo publishing cfo publishing 3 table of contents foreword: better data, better outcomes 4 accelerated decisions: dashboards and the data you need 5 a logical choice: why cfos should “own” analytics 7 an expanding role: finance takes on business intelligence 9 conclusion: smarter decision making 11 sponsor’s perspective 12 The unrivaled power and potential of executive dashboards, metrics and reporting explained. Rich Visualization – Quickly build a variety of graphs and visualizations to consolidate and explore … It gives C-level executives an instant birds … Top 10 IT & Technology Buzzwords You Won’t Be Able To Avoid In 2021, Top 10 Analytics And Business Intelligence Trends For 2021, Utilize The Effectiveness Of Professional Executive Dashboards & Reports. So, you’ve been tasked with creating a dashboard for the Chief Financial Officer (CFO) of your company. Now that you know what to include in your reports and why you need them for increased financial success, it’s time to look at a real-word CFO dashboard example—our specialist CFO-centric dashboard report, to be precise: This most essential of CFO dashboard examples drills into the four key financial areas that are most relevant to modern chief financial officers: costs, sales goals, gross profit, and satisfaction levels — both customer and employee. By understanding our user, the CFO, and their goals, we can provide meaningful KPIs in an effective visualization that provides them the level of operational and analytical reporting they need. Now that we have an idea of what information we are presenting and who we are presenting it to, it’s time to actually start creating widgets and laying them out in dashboards. When it comes to finances, you cannot afford to miss a beat. Debt-to-Equity Ratio = Total Liabilities / Shareholders’ Equity Bar chart showing, Debt and Equity in separate bars according to time with Equity shown as a line spanning the chart. Employee satisfaction is as important as customer satisfaction, and the best software for CFOs will always include this CFO metric somewhere in the mix. The Net Profit Margin KPI measures how effective your business is at generating profit on each dollar of revenue you bring in. spreadsheets, .csv files, databases, data warehouse, etc.) How do you create one that will not only present the required KPIs in an effective way but, also allow the user to have all of the data that they need to make informed decisions based on those indicators? CFO dashboard KPIs offer a digestible visual representation of what matters most. Also, these formulas are generalities. CFO Dashboards Modern operational systems house massive amounts of data, and sales compensation systems are no exception. SurePoint View provides role-specific dashboards that contain powerful analytics and actionable insights into the performance drivers critical to a law firm’s success. As mentioned, satisfaction metrics are not "hard" financial metrics, but important for each modern CFO that needs to obtain a birds-eye view of the overall organization. There really is a bunch of data and insights that can be of interest to a CFO Analytics, but let’s cut the clutter and hit the critical metrics with GrayMatter’s Finance Analytics (FA+) solution, Finance Analytics, CFO Analytics Dashboard Once you have set your aims, goals, and outcomes, you will be able to select CFO dashboard KPIs that will help you optimize your efforts. By placing your focus on the right key performance indicators, you will be able to evolve your business efforts exponentially. Visual, dynamic KPIs that will help you form long-term strategies and make decisions at a glance. This interactive bank scorecard is created for the CFO and pulls the whole organization’s finance data into a single dashboard. OR a table stating values and a net change indicator. “The CFO is interested in days charges, cash collecting and how our accounting in receivable is doing,” Goldberg said. It demonstrates how much of the firm’s financing comes from investors and creditors. People love to use buzzwords in the tech industry, so check out our list of the top 10 technology buzzwords that you won’t be able to avoid in 2021. Easy to navigate functionality accessible from one central location. For reaching a chief financial officer report success, here are the attributes your BI reporting tools should possess: By focusing on these key areas and working with the right tools, you will ensure that your CFO data analytics are a success from the outset. It’s clear that if you want to streamline your performance as well as your business’s, embracing the superior analytical abilities of CFO-based data dashboards is essential. Whether you're talking monthly or daily reports for CFOs, employee satisfaction is something you must monitor closely as it will affect performance and productivity, which, in turn, will have a significant financial impact on the business. Let's take a closer look at our examples and see what that means. The future is now, the future is executive dashboards — don’t get left behind. Simply, how quickly a firm pays off its suppliers.