What is an Executive Dashboard for Credit Unions?

Executive Dashboards are considered analysis tools and are used by leaders to track financial performance. Some of the main functionality in this type of dashboard is that it provides analysis of revenues, expenses and profit with comparisons to benchmark credit union branches. The dashboard enables analysis from nine different perspectives: 1) Actual and budget revenues by branch, 2) Actual and budget expenses by branch, 3) Actual and budget profit by branch, 4) Monthly revenue trend, 5) Monthly expense trend, 6) Monthly profit trend, 7) Top five branches by revenue, 8) Top five branches by expenses, 9) Top five branches by profit. You find an example of this type of dashboard below.

Purpose of Executive Dashboards

Credit Unions companies use Executive Dashboards to give leaders an easy way to review performance and benchmark financial metrics across their branches. When used as part of good business practices in Executive and Financial Planning & Analysis (FP&A) departments, a company can improve its strategies and profitability, and it can reduce the chances that decision-makers lack real-time understanding of KPIs.

Example of an Executive Dashboard

Here is an example of an Credit Union Executive Dashboard with trends and revenue, expense and profit comparisons across branches as well as actual to budget comparisons.

Example of an Executive Dashboard for Credit Unions

Example of an Executive Dashboard for Credit Unions

You can find hundreds of additional examples here

Who Uses This Type of Dashboard?

The typical users of this type of dashboard are: Executives, CFOs, Analysts, Regional Managers, Branch Managers.

Other Reports Often Used in Conjunction with Executive Dashboards

Progressive Executive and Financial Planning & Analysis (FP&A) departments sometimes use several different Executive Dashboards, along with profit & loss reports, balance sheets, cash flow statements, budget models, forecasts and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples