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Getting ready for the Business Performance Dashboard

Posted 5 years ago in Product by Beeny Atherton
Posted by Beeny Atherton

In April we previewed our Business Performance Dashboard at Xerocon New Zealand – and were rapt by the reception it received. As the official release nears, we thought we’d provide some guidance as to how accountants and bookkeepers can get ready.

Business Performance Dashboard

So what is the Business Performance Dashboard?

The Business Performance Dashboard provides a view of a business’s performance across a wide range of standard business metrics. You and your clients can view simple graphs of each metric. This will help to identify important trends that would otherwise be difficult and time consuming to derive.

You will be able to click on any metric to find out more information – including how each has been calculated and where the data comes from.

accounts receivable

Advisory services

With these metrics available, there are great opportunities to evolve your relationships with your clients. Think of the Business Performance Dashboard as a starting point for conversations with them. Talk to them about which numbers make the most sense to track. Help clients understand their meaning, and create a plan to address any specific performance issues.

You might also decide to establish a new advisory or business monitoring service. Depending on the goals of your practice, there could be opportunities to meet more regularly with your clients. You could discuss these metrics in more detail, set goals, and broaden the set of advisory services that you provide.

Enabling more metrics

In some regions (currently New Zealand and Australia), you will see additional metrics. These metrics require Xero to know more about how your clients have coded their accounts. They will rely on a feature called Report Codes (coming to other regions later this year). For example:

advanced ratios

Note, these metrics will not be visible to your clients immediately. First you (or any staff member of your practice) needs to confirm a client’s chart has been correctly and consistently mapped to Xero’s Report Codes. You can get ready for these additional metrics at any time by completing the mappings for each of your clients. Some handy hints for doing this quickly can be found in the Xero Help Center.

If you have access to Report Codes and don’t use them yet, now is an ideal time to start. It give you and your clients access to more performance metrics. Not only that, but you can also take full advantage of practice reporting for all your management and annual reporting.

What’s next?

We’ll be listening to feedback once we release and have plenty of ideas ourselves about where this could lead us. Adding new metrics, setting thresholds and alerts, and the grand prize of benchmarking against similar businesses are all in the works. We look forward to hearing what you think – and continuing to help you help your clients be amazing.


Matt McFedries
May 28, 2015 at 12.16 pm

Looking forward to this! Anything that makes monitoring the key metrics of your business easier is brilliant.

I think a lot of business owners are driving their businesses ‘blind’ because they’re not watching the key metrics daily or at least weekly. I can see these dashboard metrics helping a lot in terms of creating a more regular habit of reviewing the business performance throughout the month. And surfacing issues before they become bigger problems.

To quote the old adage: “you can’t improve what you can’t (or don’t) measure” – this solves the measuring bit, so we can focus on improvement. Awesome.

Glennis Stuckey
May 29, 2015 at 10.27 am

As a bookkeeper, we would absolutely love a complete client dashboard, showing all clients with a rating or traffic light quick view of who needs focused attention. We can then quickly jump in and see what needs doing.

Di Crawford-Errington
May 30, 2015 at 9.51 am

Really looking forward to seeing this and the opportunities this opens for bookkeepers and advisors. It’s all about #collaboration and #upskilling the SMB owner to ensure sound financial decisions can be made. #gottaloveit Thanks @xero for providing us with super cool tools.

May 31, 2015 at 7.58 pm

Awesome. Would love to see twelve month trailing revenue in there as an option as well.
Unfortunately we have to consolidate multiple orgs to make this useful to us. Are there any plans in the roadmap to be able to consolidate organisations?

Brian Katzen
May 31, 2015 at 9.58 pm

Looks amazing – can’t wait to see more! Will Advisors be able to build our own metrics?

Mark Lawton
May 31, 2015 at 10.27 pm

This will be a great addition to Xero for a long time and something I have been wanting . As many small businesses have some seasonality to them it would be good to see an overlay (Maybe a line graph) of the previous year for each graph. This will help them see common themes during particular times of the year. I think it would also be a good idea to be able to turn graphs “on” or “off”. For some small business owners ratios could be confusing.

I think it would also be a good idea to have some basic graphs showing Income over the last 12months (and an overlay for the previous year) Costs & profit. Some people understand graphs better than figures and this would help them to see and understand some of the basic key numbers of the business. I think the best thing Xero could have done was to purchase spotlight workpapers and give users the ability to add these graphs to Xeros dashboard.
Also hopefully the designers will add a bit of “bling” to the graphs to make them look more appealing.

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