Currently, payment dashboards are recognized as the most effective tool and solution for continuous monitoring and analysis of data on the profitability of business processes. They represent a complete system capable of combining and analyzing disparate sets of data from ERP systems. In the absence of automation of this process, there is a delay in the collection and transmission of cash flow data, therefore, at the time of the need for an assessment, the information becomes irrelevant.
Payment dashboards functions
In modern business, the payment dashboard performs a number of functions:
- Monitoring. The coefficients that reflect the effectiveness of the company are presented on the dashboard in a synthesized and enlarged form. For convenience, images are displayed on the monitor screen in graphical form, which allows you to instantly notice critical indicators and recognize a potential issue. These indicators include data on the implementation of the plan, the level of costs in real-time, the number of requests from customers, the speed of order execution.
- Analytics. To that end, developers offer special applications that allow you to analyze performance indicators, establish patterns of occurrence of certain facts, and also identify cause-and-effect relations between them. The convenience lies in the fact that the user independently sets the necessary parameters and quickly switches from viewing the document to their aggregation. This makes it possible to assess the dynamics of sales in a certain region, draw load graphs taking into account the season of the year, etc.
- Information and management. Timely delivery of information to employees about the tasks assigned to them allows the most rational distribution of responsibility for specific indicators.
Varieties of payment dashboards
Based on the dominant functions performed by payment dashboards, they are divided into 3 types:
- Strategic. With their help, users have the ability to track the company’s progress towards achieving strategic goals. Such systems cover the maximum number of indicators over a long period. Their main task is to coordinate the activities of various departments in order to optimize them and obtain the desired result.
- Tactical. The main function is to track the performance of in-house individual structural units and employees. These dashboards allow you to identify issues and establish the causes of their occurrence. Their main advantage is ease of use. The client does not need the help of consulting IT specialists to carry out a full-scale analysis of a large amount of information collected from various systems.
- Operating. They are capable of generating alarms in real-time, informing the relevant departments about the occurrence of a issue. The main activity of these dashboards is aimed at monitoring the dynamics of production or sales and timely notification of a decrease in their level via e-mail or SMS-message.
All types of payment dashboards are equipped with a reliable multi-level security system to protect the personal data, including two-factor authentication and the ability to track all account logins from all types of electronic devices.