Written by Nils R. | Jun 19, 2021 7:00:00 AM
What is an
Executive Dashboard
? Executive financial dashboards are considered decision-support tools and are used by leaders to analyze revenue and expense trends and budget variances. Some of the main functionality in this type of report is that it provides graphical analysis with both trends and budget comparisons. The dashboard includes: 1) Actual and budget figures for revenue accounts, 2) Top 5 expense items with budget comparison, 3) Major revenue streams, 4) Total actual and budget monthly revenue trend, 5) Monthly expense trend, and 6) Top 10 budgeted player contract amounts. You find an example of this type of report below.
Purpose of
Executive Dashboards Sports organizations use Executive Dashboards to monitor financial performance of the organization. When used as part of good business practices in executive and FP&A departments, an organization can improve its decision-making quality and speed, and it can reduce the chances that strategic initiatives are not aligned with financial trends.
Example of an
Executive Dashboard Here is an example of an Executive Dashboard Report with budget variances and trend analysis. [caption id="" align="alignnone" width="2560"]
Example of an Executive Dashboard for Professional Sports Organizations[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Report
? The typical users of this type of report are: CEOs, COOs, CFOs, managers.
Other Reports Often Used in Conjunction with
Executive Dashboards Progressive executive and FP&A departments sometimes use several different Executive Dashboards, along with profit & loss reports, balance sheets, cash flow statements, flash reports, KPI reports, annual budgets and forecasts and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
