Unlocking the Power of Your Business Data
10/19/17 | 9:00AM | Posted by TEAM Software
Having access to lots of data is great. But if you don’t have the time or the understanding to use the data effectively, it won’t do you any good. With TEAM’s newest analytics solution the insights dashboard we do the number-crunching for you. Think of it as virtual report card for your business — it takes the data in WinTeam, our core financial, operations and workforce management solution, and creates easy-to-read charts and graphs in near-real time.
As your go-to solution for business analytics, the dashboard is organized into function-related tabs to make it easy to get to the metrics you’re most interested in understanding.
“When developing the dashboard, our goal was to highlight three key types of analytics: KPIs, financials and operations,” said TEAM Reporting and Analytics Product Owner Travis Graham.
The pulse of your business, in real or near-real time — that’s what the KPI (key performance indicator) tab is designed to show you. From one screen, you can quickly see things like your revenue, accounts receivable amount, active job count and hours to budget. You can also customize the tab to show only the metrics you want to see — those that mean the most to you and your business. Plus, you can set threshold and alerts so you can be automatically notified by email when a KPI reaches a designated number.
Talk Money to Me
The dashboard features three tabs with financial-related information: the Map tab, the Job Financial tab and the Customer Analysis tab. The information displayed on each tab is similar, but each has a different purpose.
- Map: Think of it as a broad view of your business. The map can show you how many jobs you have and the revenue associated with each state, city or region. You can also use it as a tool to see areas where you can expand your work.
- Job Financial: This tab shows revenue and expense information for jobs or sites. The key metric to review on this tab is the graphs that display the information across time to help you spot trends.
- Customer Analysis: Quickly see who your top five customers are by revenue and the margin associated with these customers. By reviewing this information in context, you’re able to make comparisons between customers.
“The ability to drill down your financial information to the job level is a way to ensure you’re doing the right things. And, the trending charts and graphs can help you sanity-check your future budgets,” said Graham.
Operational efficiency is key to your success given the shoestring margins in the contract building service and security industries. And two main operational areas highlighted in the dashboard are overtime and checkpoints, or quality assurance.
- Overtime tab: We hit the common metrics of hours, percentage and the average overtime hours. But review the graphs to gain deeper insight into your overtime situation such as the correlation between number of jobs and overtime hours or which customers have the most overtime.
- Checkpoints tab: See a snapshot of the areas where you log the most deficiencies during your inspections at any given time. Plus, look at the trending charts to see if there are patterns.
“The Overtime tab features my favorite report from the whole dashboard, a bubble chart showing overtime hours compared to number of jobs. This type of chart is an extremely effective way to visualize a lot of data quickly so you can see where you need to act,” explained Graham.
So, instead of spending hours trying to understand how your business is faring, we’ve done some of that work for you. The insights dashboard’s out-of-the-box WinTeam data visualization tools lead you to the answers you need faster — and may help you discover answers to questions you didn’t know you had. Data and analytics are valuable information, but where you can make the most impact is using that information to drive smarter decisions.
“The initial release of the insights dashboard is a solid foundation to becoming your go-to analytics tool. We’re currently working to enhance and expand what’s currently available, as well as add additional metrics to continue to build out the dashboard based on feedback from our customers,” said Graham.
Are you a TEAM client and want access to the dashboard? Contact your account manager to find out how.