Making money: the path of least resistance
Business performance metrics and finance management aren’t the sexiest topics in the world, but they are necessary for the continued success of your business. If you aren’t paying attention to how your business is performing or are turning a blind eye to your company’s financial statements, revenue is slipping away from you quarter by quarter. Shirking financial management duties doesn’t work well as an individual and certainly doesn’t bode well for business owners. So if finance really isn’t your thing, maybe it’s time to implement a solution that combines the expertise of a financial consultant yet is easy enough to manage without having a CPA license.
BodeTree is a web-based financial tool created for “people who hate finance.” It leverages Quickbooks to pull data into the service and spins up visual dashboards that let you gauge the financial health of your organization at a glance. The tool is inspired by the Buddhist Bohdi tree where Buddha reached nirvana, the highest state of enlightenment. When translated to the business world, the tool gives you a complete, easily digestible overview of your company’s financials, giving you the peace of mind that you are fully in tune with one of the most important aspects of your business.
But why does managing your finances really matter?
Take your sales team as an example. If your sales team is incurring more costs than deals made, it’s hard to really know that unless you’re taking a look at the numbers. On the surface you’re approving expense reports for travel to trade shows and lodging for client visits, because those things are sometimes necessary to win a customer. But at the end of the quarter, if those deals are lost, or even worse, won and then lost because the customer is unsatisfied, revenue is being siphoned out of your company and you don’t even know it.
Having a tool that serves as a barometer for your financial outlook helps pinpoint the holes in your business where revenue is slipping away. By noting these problems, fixing them and then actively managing your finances from here on out, you hold onto your base revenue and can focus on bringing in additional revenue streams. Numbers may make your cringe, but running from them won’t make them go away. If the only way you can tolerate your company finances is by making things as simple as possible, there are solutions out there that can do just that.
More about BodeTree:
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