Tip 4: Monitor your daily sales rate:A report a day keeps your business in play.
Running a business is a daily activity. But managing without updated reports is like driving a vehicle blindly. You have no idea when you're going to run out of fuel or when you're driving to fast or to slow.
My tip is to structure and optimise your reporting environment to give you the necessary decision making information for day to day management. In this way you can see issues coming far better than without it.
Having access to daily updated management accounts has made a massive difference in our business. One of my favourite reports in MyBI is the daily sales report. It breaks down sales to a per day value which enables me to monitor the month's progress far better than having one overall month to date value.
If you are using Pastel Partner or Pastel Xpress you can also manage your business like this. MyBI App generates live and drill-able Management Accounts from transaction level data directly from any Pastel Partner and Pastel Xpress database.
Your Data • Your Asset
