What is a dashboard software?
Definition
Dashboard software are essential reporting tools that are used to manage businesses. These tools automatically collect information that will help managers to quickly analyze market evolution. This will allow them to take concrete business decisions in real-time.
How does dashboard software work?
Dashboard solutions connect data, collect and restore all the data sets on a graphical interface enhanced with statistics, data analytics, executive dashboards, performance indicators (KPIs), data visualization, etc., to allow its user to analyze a situation or detect trends. This data will provide a decision-maker with all the necessary information needed to draw up an action plan. Thanks to this software, managers will be able to offer the best strategies at any given moment.
Equipped with an online backup system, the software allows free access to the dashboards and ensures data security. The documents are saved on a Cloud and can be opened with any type of device: computers, smartphones, or tablets. All the user has to do is connect to the Internet.
What are the main features of a SaaS dashboard software?
Using BI platform makes many tasks more convenient to perform. The features differ depending on the software, below are the most common ones:
Data processing
Once the data has been inserted into the table, the software performs various calculations, including turnover calculations and data mashups. Summary tables, projections, and graphs are then automatically generated. The user only needs to analyze the results.
Cash flow monitoring
This type of web-based software allows you to control the accounts of a structure. It ensures the follow-up of current accounts, actions, the functioning of the cash desk, etc. It helps business analysts to manage the company's budget in the long term.
The integration of financial data
Modules allow the creation of a library of modeled indicators. This library facilitates the monitoring of accounts, expenses, profits, etc. Dashboards are drawn up every month so that managers can mobilize the company's financial resources.
Who uses dashboard software?
Business intelligence dashboards are designed for auto-entrepreneurs, executives, companies, and anyone looking for a tool to improve the performance of their business. Practitioners use it to track their turnover, their margin as well as everything related to the management of their company. These tools can be adapted to all kinds of activities.
Why should you use dashboard software in your company?
Advantages
- It is a data-driven decision-making tool that a company must use to adopt the best possible solutions in order to make its projects a reality. This technology analyses remarkable values to establish indicators of expectations.
- It allows to prevent risks and to improve the productivity of the company.
- Thanks to BI dashboard software, it is possible to have a balance sheet per month with real-time data. This will allow the situation to be analyzed in real-time based on the performance indicators established by the tool.
- This kind of tool synthesizes in a clear way the key performance indicators, which facilitates the evaluation of a given situation and the making of good decisions.
- Using dashboard software means moving forward more quickly in your work by limiting manual data entry.
- SaaS dashboard software automatically updates itself so that the user can benefit from a modern tool.
Disadvantages
Freeware dashboard software is often limited to basic functions. In general, the interface of these business management tools focuses on only a few accounting indicators.