We’re thrilled to announce the introduction of a highly requested feature in BrizoSystem: Custom Key Performance Indicators (KPIs). This new functionality allows users to define their own KPIs using specific sections or accounts and seamlessly integrate them into dashboards and reports.
Why KPIs Matter
Key Performance Indicators (KPIs) are crucial for businesses to measure progress toward strategic goals. Whether it’s monitoring profit margins, analyzing cost efficiency, or tracking growth metrics, KPIs help businesses stay on course and make data-driven decisions.
With BrizoSystem’s new custom KPI feature, you’re no longer limited to predefined metrics. Now, you can design KPIs tailored to your organisation’s unique needs and track them effortlessly.
How It Works
- Define Your KPI
Users can create KPIs by building formulas using specific accounts, sections, or custom-defined variables. For example:- Gross Profit Margin: (Gross Profit / Revenue) × 100
- Debt-to-Equity Ratio: Total Liabilities / Shareholder’s Equity
- Customer Acquisition Cost: Total Marketing Expenses / Number of New Customers
- Integrate KPIs into Dashboards and Reports
Once defined, these KPIs can be displayed directly on dashboards or incorporated into reports.- Dashboards: Add your custom KPI as a widget to visualize real-time performance.
- Reports: Include KPIs alongside financial statements to provide additional context and actionable insights.
- Customizable and Dynamic
KPIs are dynamic and will update based on your selected reporting period, ensuring the most relevant data is always presented.
Benefits of the Custom KPI Feature
- Tailored Insights: Create KPIs that reflect your specific business goals and track what truly matters to your organisation.
- Enhanced Decision-Making: Having key metrics at your fingertips makes it easier to identify trends, opportunities, and areas for improvement.
- Improved Collaboration: Share KPI dashboards and reports with stakeholders to align on objectives and performance metrics.
Use Cases
- For SMEs: Monitor critical growth indicators like profit margins, cash flow, and customer acquisition costs to ensure sustainable expansion.
- For Multi-Entity Businesses: Track KPIs across subsidiaries, with the flexibility to define different formulas for different entities.
- For Financial Analysts: Generate custom financial ratios for in-depth analysis and integrate them directly into your reports.
How to Get Started
- Navigate to the KPI Builder: Access the KPI creation tool within the BrizoSystem interface, i.e. Settings->KPI.
- Define Your Formula: Use the intuitive interface to select accounts, sections, or variables and build your custom formula.
- Add to Dashboards or Reports: Once defined, your KPI is ready to be added to dashboards or reports for immediate use.
Take Control of Your Performance Metrics
The new custom KPI feature in BrizoSystem empowers you to go beyond generic metrics and focus on what matters most to your business. Whether you’re tracking profitability, efficiency, or growth, this feature provides the flexibility and insights you need to make informed decisions.
Ready to elevate your financial reporting? Log in to BrizoSystem and start creating your own KPIs today!