What is
an
Executive Dashboard for Hospitality Companies
? Executive Dashboards are considered performance monitoring tools and are used by leaders to analyze revenue variances and trends. Some of the main functionality in this dashboard is that it shows revenue across all the profit centers of a hospitality business. The five charts on the top of the dashboard show actual and budget revenues for hotel, casino restaurant, spa and golf. The same metrics are displayed as monthly trend charts at the bottom of the dashboard. You find an example of this type of dashboard below.
Purpose of
Executive Dashboards Hospitality companies use Executive Dashboards to give leaders an easy way to analyze the top revenue sources of the company. When used as part of good business practices in FP&A and Executive departments, a company can improve its growth strategies and revenues, and it can reduce the chances that leaders miss any key outliers and trends related to the top line.
Example of an
Executive Dashboard Here is an example of an Executive Dashboard with actual to budget variances and trend for revenue metrics across business areas. [caption id="" align="alignnone" width="2560"]
Example of an Executive Dashboard for Hospitality Companies[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Dashboard
? The typical users of this type of dashboard are: CEOs, COOs, CFOs, VP of Sales and Board Members.
Other Reports Often Used in Conjunction with
Executive Dashboards Progressive FP&A and Executive departments sometimes use several different Executive Dashboards, along with sales dashboards, sales reports, KPI dashboards, profit & loss reports, sales forecasts, annual budgets 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:
Example of an Executive Dashboard for Hospitality Companies[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Dashboard
? The typical users of this type of dashboard are: CEOs, COOs, CFOs, VP of Sales and Board Members.
Other Reports Often Used in Conjunction with
Executive Dashboards Progressive FP&A and Executive departments sometimes use several different Executive Dashboards, along with sales dashboards, sales reports, KPI dashboards, profit & loss reports, sales forecasts, annual budgets 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)
- View 100’s of reporting, consolidations, planning, budgeting, forecasting and dashboard examples here
- View a Hospitality industry white paper and other industry-specific information here
- See how reports are designed in a modern report writer using a cloud-connected Excel add-in writer
- Discover how the Solver CPM solution delivers financial and operational reporting
- Discover how the Solver CPM solution delivers planning, budgeting and forecasting
- Watch demo videos of reporting, planning and dashboards
August 2, 2021
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