UTILIZING DASHBOARD REPORTS FOR SUCCESS
Smart, profitable equipment dealers measure their businesses on a daily, weekly, monthly and annual basis. These metrics guide decision-making that impact financial well-being. Get familiar with how to use a dealership management system dashboard to get an at-a-glance look at where your business stands at any given time and plot your course to success!
Fred Hageman, principal of Rental Acquisitions, a professional mergers and acquisitions and valuation firm, shares his view on how utilizing your system dashboard can aid dealers in planning for success.
Hageman encourages the dealers he works with to develop concise and consistent dashboard reports to help them analyze and manage their businesses more effectively and profitably.
These business status reports are generated using a dealership management software system. In the ASPEN dealership system, many detailed reports can be accessed via the graphics on the system dashboard. When something stands out in the graph that requires further investigation, the department manager only needs to click on the graph to “drill-down” to the detailed report or transaction in the system.
Hageman recommends dealers view these reports on a daily basis:
- Cash balance.
- Accounts receivable balance.
- Accounts receivable days sales outstanding (DSO).
- Accounts receivable balance over 60 days, including 90 and 120 days+ categories.
- Accounts payable balance.
- Customer deposits balance.
- Yesterday’s daily revenue.
- Month-to-date revenue through close of the prior business day.
- Advance/recurring rentals including a balance of this month, next month and total.
See information about the many types of reports available in ASPEN.
Read the full article by Fred Hageman in Rental Management Magazine