Written by Nils R. | Apr 23, 2021 7:00:00 AM
What is a
Financial Dashboard for Professional Sports Teams
? Financial Dashboards are considered financial monitoring tools and are used by CFOs and team owners to analyze aggregate revenue and expense KPIs as well as related player metrics. Some of the main functionality in this type of dashboard is that it provides trends and KPIs from five different perspectives: 1) Actual versus budgeted revenues, 2) Actual versus budgeted expenses, 3) Actual versus budgeted profit, 4) Profitability trend, and 5) Current player roster with metrics for position, age, salary, years experience, contract amount, guaranteed amount and contract length in years. You find an example of this type of dashboard below.
Purpose of
Financial Dashboards with Player Metrics Professional sports organizations use Financial Dashboards with Player Metrics to give managers and stakeholders an easy way to monitor key performance metrics. When used as part of good business practices in Financial Planning & Analysis (FP&A) departments, an organization can improve its decision-making and related outcomes, and it can reduce the chances that executives do not have a timely and clear understanding of key performance issues.
Example of a
Financial Dashboards with Player Metric
s Here is an example of a Financial Dashboard with KPI analysis for revenues, expenses, profit and player metrics. [caption id="" align="alignnone" width="2560"]
Example of a Financial Dashboard for Professional Sports Teams[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Dashboard
? The typical users of this type of dashboard are: Team owners, executives, CFOs.
Other Reports Often Used in Conjunction with
Financial Dashboards with Player Metrics Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Financial Dashboards, along with profit & loss reports, cash flow statements, annual budgets and forecasts, revenue dashboards 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
