Getting the most out of Key...

Getting the most out of Key Metrics

The launch of our new Key Metrics feature came with roaring excitement from our team, a swift adoption from our users, and a whole lot of game-changing information.

These metrics aren’t new to the industry — assets, liquidity, leverage, and profitability are the backbones of this feature. Presented in visual formats with easy-to-dissect data at your fingertips, the Key Metrics feature is your key to tax strategies, wealth and insurance advisory, business improvements, lending opportunities, and more. And the best part? It happens in just a few clicks.

An Overview of Key Metrics

The Key Metrics feature is intended to bring critical information that plays a pivotal role in the success of businesses to the forefront with very little manual work. With this feature showcasing key metrics almost instantly, you save time while leaving no business growth opportunity behind. 

This feature outlines liquidity ratios, leverage ratios, profitability margins and returns, and asset ratios in a simple and streamlined format to provide you with the quickest route to actionable information. This feature outlines year-over-year performance trends and historical data to open the door to better predictability and overall asset management. These ratios are benchmarked against their industry, boosting the ability for advisors to see clearly into the risks and opportunities of a business. 

Performance Evaluation

Users can assess the recent financial performance of a business by analyzing trends over a 5-year period. A historical perspective helps identify patterns, potential challenges, and areas of improvement. Understanding how financial ratio performance has evolved over time enables more accurate forecasting and strategic planning. 

Early Identification of Risks and Opportunities

Historical trend analysis makes it more likely to spot potential risks or opportunities early on. Sudden shifts in key ratios may signal financial distress or indicate areas where the company is excelling. Proactively addressing issues or capitalizing on positive trends becomes more feasible with a deep understanding of historical data. 

Strategic Decision-Making

Comparing financial ratios to industry benchmarks provides context for assessing a company’s performance relative to its peers. This information can be used to advise on strategic decisions, helping businesses align their financial practices with industry standards. This benchmarking process facilitates a more informed approach to setting goals and optimizing financial strategies. 

Industry Competitiveness

Industry benchmarks can be used to evaluate a company’s competitiveness within its sector. Understanding how a business stacks up against industry averages helps identify areas where it may excel or lag behind, guiding efforts to enhance competitiveness and operational efficiency. 

Stakeholder Communication

Presenting historical trends and industry benchmark comparisons strengthen communication with stakeholders. Whether addressing company leadership, investors, or regulatory bodies, accountants armed with this data can provide a comprehensive narrative of a company’s financial journey. This demonstrates the company’s current standing, as well as its trajectory and positioning within the industry. 

Tailored Financial Advice

Armed with both historical trends and industry benchmarks, offering tailored and strategic financial advice just got easier. This level of insight allows for the customization of recommendations based on a company’s unique financial history and its standing in the broader industry landscape. 

This key metrics feature is about more than just knowing the numbers. Its historical and analytical lens offers opportunity for insights and action, which can snowball into overall growth for everyone involved. Advisory just got easier with a simple dashboard with easy-to-read next steps — and you save some time while you’re at it.