Once KPIs have been established, an effective dashboard can provide an easily digestible business summary. This vital tool provides a visual snapshot of KPIs and other business metrics all in one place, streamlining the overwhelming amount of data that CFPs work with every day. A dashboard can also improve employee productivity and save a company money by providing easier, more intuitive access to project and accounting details.

However, not all dashboards are created equal. An effective dashboard presents information clearly, quickly, and compellingly. Here are some questions to consider when evaluating a dashboard:

• Is it easy to use? If a dashboard too cumbersome to use, then the potential benefits will not be realized. To be effective, a dashboard must be intuitive while quickly and clearly painting a picture of the business’ current state.
• Is the data up to date? It is essential that all data is generated in real time so a business is not relying on outdated figures. This ensures that businesses are always making decisions based on the latest information available.
• Is it comprehensive? It is important that information is pulled from data sources across the business. Aggregating data from multiple sources provides a complete picture instead of a fragmented view.