A Company Dashboard is a periodic report or display with a limited number of high-level Key Performance Indicators (KPIs). A Dashboard is a very powerful tool that will enable you to have the pulse of your business on a daily, weekly, or monthly basis depending on the rhythm of your company’s business.
A well-constructed Dashboard will enable you and your team to spot and solve problems on a timely basis, rather than reacting to backward looking numbers from your financial statements. In addition, the Dashboard will provide early warning of things that have fallen off track. The Dashboard will also predict future results and developments if predictive KPIs are included.
Further, the Dashboard allows you to monitor your business or department wherever you might be. This is particularly important as more and more businesses are moving toward some form of remote work.
In addition, your Dashboard will counteract your perception of not being in control of your responsibilities. It will remove the need to waste time asking team members for updates to get to the “real story.” The real story will be at your fingertips. Finally, the Dashboard will allow you to ask the right questions when more in-depth analysis is needed to address items that have gone off track.
The goal is to have a company Dashboard and departmental or divisional dashboards that all support the organization’s mission. This will empower your team and increase accountability throughout the company.
Relevant KPIs for your organization will be different depending upon several factors, including your industry, business rhythm, specific products or services offered, or business structure, to mention just a few. Also, you may, depending upon structure and rhythm, have for example, a daily and monthly dashboard, or a weekly and monthly dashboard, each with different KPIs. Nonetheless, a great KPI starting point is the ActionCOACH 5-Ways KPIs.
If you need an assist with creating a company Dashboard or determining your important KPIs please contact me.