You enter and pay your bills. You receive dollars from the sale of your products and services. Your systems then spit out a financial statement to show you how you’re doing. However, that only paints part of the picture.
At MGA, we can take all of your data in and utilize technology to give you key performance indicators that can help drive your company’s success. It’s not just about reporting on your history, but it’s also about telling you where you’re headed.
Listen below as one of our F.A.S.T. experts, Shaughnessy McCaleb, explains everything you need to know about key performance indicators.
Utilizing key performance indicators that are industry appropriate is what we do to drive positive change for our clients.
Of course, you should be looking at your standard KPIs, such as gross profit margin, return on equity, debt to equity ratio, etc. Every industry wants to measure profitability, efficiency, and growth, but there are more metrics available beyond financial data.
What we do differently here at MGA, is we think about things that are industry-specific to get a better view of your big picture. We can take all of your data (yes, even your non-financial data!) and give you reporting to analyze it.
For example, let’s say you own multiple gym locations. We can create reports to track membership growth in conjunction with marketing. Other custom KPIs might include how much revenue is generated per square foot of a building or perhaps how much revenue is generated per employee. We can also track inventory turnover rates and wages as a percentage of sales.
Another great way we can help our clients is by providing a trending analysis using historical data. We can trend KPIs over months or even years. We can also look at your goals and adjust your benchmarks accordingly to make sure you know what you need to do to reach those goals.
When you combine all of this data, both your non-financial and your financial, your company can work toward real results.
Our F.A.S.T. team can take the data you already have and help you get more value out of it.
Our goal is to help people focus on their business and not stay trapped in their business. We want to give our clients clear and concise data they can use to make informed business decisions.
We also understand that you may not even know what you need or be able to articulate what you’re looking for. By working with MGA, you have a partner to help you figure all of that out. We have been there and can provide guidance, insight, and direction to help you along in your business pursuits.
What do you really need to know about your business? Our team of experts can visit with you about what your needs are and help you develop a solution that you can then manage.