Rose Report: Issue 38

Business Road Trip 101: Check Your Dashboard

RFSDashboardAt Rose Financial Solutions (RFS), we embrace a philosophy of continuous process improvement both externally and internally, resulting in improved financial performance for our clients. To ensure that business improvements are creating positive results, RFS is rolling out RFSDashboard™.

RFSDashboard provides the C-Suite with a complete picture of your company’s performance while allowing you to drill into the details. With RFSDashboard, you’ll have even more visibility, knowing what’s working and what’s not working in your business at all times.

The Dashboard Analogy

Consider these two similar but very different scenarios. One that utilizes a dashboard and one that doesn’t.

Scenario 1:

You’re going on a cross-country road trip. You’re buckled up and ready to go, however, you realize that your car’s dashboard isn’t working. You say to yourself, “who needs a dashboard?” and set out for the highway. Three hours into the trip you think about filling up your gas tank assuming you have at least two more hours left in the tank. Ten minutes later, your car sputters and stops. You call a nearby gas station to bring you gas, 45 minutes later you’re back on the road. Without a working speedometer, you’re cruising down the highway doing 78 miles per hour in a 55 mile per hour zone, when you see a set of flashing lights in your rearview mirror. You pull over and a police officer gives you a ticket. You’ve now added an additional 20 minutes and $150 to your journey. Back on the road again, you take it really slow. As cars zip by, you decide you aren’t going to make the same mistake twice so you stop every two hours to fill up your gas tank. The combination of running out of gas, the speeding ticket, slow driving, and unnecessary stops for gas add five extra hours to your trip. Without a working dashboard, you have no idea that your vehicle was running low on oil over 350 miles ago. The car stops once again and you call a service station. Two hours later, they arrive and inform you that you’ve ruined your engine and it will take one week to fix. You rent a car for $75 per day and continue on your way.

Total additional hours of road trip: 30 hours

Total additional cost of road trip: $5,500

Scenario 2:

You’re going on a cross-country road trip. You’re buckled up, your dashboard is working and you’re  ready to go.

Total additional hours of road trip: None

Total additional cost of road trip: None

In both scenarios, you’re buckled up and setting off for your destination, but that is where the similarities end. It’s the dashboard that makes the difference.

The Highway to Success

As the dashboard analogy illustrates, not knowing what’s working or not working in your business at all times can be costly. With RFSDashboard, you’ll have the business intelligence tool you need to make timely, cost-effective and sound business decisions. RFSDashboard’s enhanced features deliver an unprecedented view of your business performance by aggregating and summarizing your financial information into one place, allowing you to easily access, monitor, measure and compare financial and management information including key performance indicators (KPIs) in near real-time. With an enhanced, user-friendly and intuitive interface, RFSDashboard provides the C-Suite with one version of your company’s true financial performance, using the same system used to approve transactions and view your periodic financial results.

Don’t let your business get stranded on the highway to success, take RFSDashboard for a test drive. For more information, visit our website at: www.rosefinancial.com.