It’s safe to say your revenue report is the lifeblood of your business operations. Without this critical piece of paper, it could be almost impossible to figure out how much your business is making, where it’s making the most money, and who your best customers are.
Wait a minute, you might be thinking to yourself. My revenue reporting tool doesn’t let me see all of this info.
If your report is basically an Excel document with a final figure as to how much you made this month, then it’s time to shake things up – and we’re going to show you how.
Why Change the Revenue Report?
Hey, maybe you’re happy with how things are right now. Maybe you’re fine with a simple report that just shows you your company’s bottom line. Maybe you’re not worried about breaking down your revenue so you could learn even more valuable information about your business.
Who are we to judge?
But wouldn’t you rather want to know those juicy specifics about your company’s revenue? Don’t you want to find out the specific reasons why your organization’s revenue is growing – or why it might be dropping?
Your company’s revenue is hiding a lot of information – and if you’re not using the right revenue reporting too, you could be missing out on all of these valuable nuggets. Whether you own the company, are a manager, or are just responsible for managing the numbers, you absolutely need these features in your revenue report:
Breakdown by Customer
If you don’t know who your most valuable customers are, you’re probably missing out on huge sales opportunities. Your most engaged customers need a different treatment than regular customers, or clients who occasionally buy from you. When you have a revenue reporting tool that breaks down where your money is coming from, you can follow this information up with better marketing, targeted advertising, and excellent customer service.
Breakdown by Inventory
Quick – do you know what your most popular products are? Do you know which inventory is moving slower than a snail’s pace? If you don’t have definitive, precise knowledge of how your inventory is performing, you could end up making a costly misstep. For example, you may discontinue a surprisingly lucrative product, or you could order more of a product that’s not going to move off of shelves at all.
Breakdown by Season
Do you know when your company makes more money? Do you know if this is a seasonal trend, or a one-off anomaly? If you know this kind of information, you and your company can take crucial steps to prepare for upswings in your revenue, as well as prepare for any dry spells your company might go through. This way, you’ll never be caught unaware by seasonal trends – you’ll always be ready and waiting!
Get the Revenue Report You Need!
Don’t leave your revenue up to a guessing game. Download the only revenue report you’ll ever need!