September 5, 2016
Featured app: Fathom measures the metrics that matter
Fathom converts your QuickBooks data into useful business intelligence so you can see exactly how well your business is performing and take action when needed. When you connect Fathom to your QuickBooks account, you can evaluate your company’s profitability, cash flow, growth, and other key performance indicators (KPIs) to help your business be more profitable.
Measure performance with KPIs
One of the most popular ways to assess business performance is by using Key Performance Indicators (KPI). A KPI is value that measures how effectively a company is achieving a key business objective. When choosing financial and non-financial KPIs for your business, it’s important to make sure they’re meaningful, measurable, and actionable.
Financial KPIs help you assess the performance and financial health of your business. These KPIs are often grouped into categories such as profitability, activity, efficiency, cash flow and growth. The data for these KPIs can be sourced from your QuickBooks account. Fathom has over 50 default KPIs you can choose from.
Non-financial KPIs are typically used to measure common business functions like sales and marketing, customer service, production, operations, and staff information.
Fathom’s KPI Explorer helps you understand at a glance which KPIs needs improvement, prompting you to take proactive steps to get them back on track.
You should set targets you want to achieve for your KPIs, and some of these targets might even be driven by the budget you have loaded into QuickBooks. Fathom gives you the option of setting alerts so you will know when your KPIs are falling behind your targets.
Measure the impact of your actions with Goalseek
With Fathom’s Goalseek tool, you can visualize the changes you need to make to reach your business goals. Select a KPI in the tool and then set a goal. By adjusting your KPI inputs, you can see how small changes can make a big impact on achieving your goals.
Start measuring the metrics that matter for your business so you can set goals that will see you thrive! Get Fathom today.
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