CEOs have a lot to worry about, but what are their greatest concerns? What keeps them awake at night? Their concerns fell into three broad categories: talent, operating in a global marketplace, and regulation and legislation according to The Harvard Business Review.
As a CEO you will always running short of time which keeps your attention away from the key data/KPIs which need to be looked to run your business hassle free. The Key Performance Indicators should form the base of your business which helps in taking proactive and faster decision.
KPIs set is different for each Industry segment depending on the requirement of the business, it should depict overall performance of the company at a glance to CEO. Earlier decisions were made on the guts basis by CEO but with the evolution of BI, more informed decisions are taken with the availability of real- time data analysis. CEO Dashboard should give CCTV coverage of company’s health indicating various leakage happening.
The 5 mandatory KPIs in CEO Dashboard
Progress towards Target
When you set monthly, quarterly, annual and long-term targets for your company and individual resources, a check is always needed on your goals. So you want to see the variance between the actual profits and expected profit in the visual format. You’ll be able to quickly compare how the company is doing, reassure management and make crucial decisions.
Control over Expenses
Whether it’s employees, inventory, IT or property, expenses are one of the biggest concerns on your long-term goals. A visual dashboard will give you deep analysis of your expenses so that you can figure out what is consuming more and take decisions on your major expenses.
Net profit is the like the Bird eye which the business leader looks for building their future strategy. It can be visualized in a form of line or bar chart compared on monthly and quarterly scale. However you decide to represent the data, it needs to provide detailed, regularly updated information.
You want to know how much your customer spending? What is my profit generated from each customer? A customer scorecard can show all these details at a glance where you can see how your customers performing and take actionable decisions for low contributing customers.
Revenues and revenue growth rate
CEO Dashboard should be able to give a quick glimpse of how your Business has grown, instantly visualize and find out what’s going right and what’s going wrong. Need to invest in low contributing departments? Respond to new trends of Product Demand? Tracking your revenues closely is crucial and will help with those decisions.
Kockpit leads to the questions you have never asked about your business.
It helps you to:
Proactive decisions with real time data through various analysis
Discover the red zone of your business and take timely actions
Track your receivables and take actions to reduce 90+ days one to bring down your DSO
Performance review mechanism, to build healthy pipeline of products and customers
Reduce the time from 10 days to just 1 day to get all reports on your data coming from Navision
Control your expenses by keeping check on the spikes in your business
Inventory Analysis help control your DSI and saves cost on static inventory