4 key reports for floral business management
With so many aspects of the organization to be on top of, it’s a good idea to prioritize and if you only have time to view and analyze these 4 aspects of your company, at least you’ll have an idea of where things are headed:
1. Profit and Loss Statement
This summary shows income earned and should be reviewed monthly with the figures showing each months’ details and year to date totals. This report shows whether you are making money or not based on the activity of the business during the period.
2. The Sales Forecast
The single most important document generated in most sales organizations, a sales forecast has multiple purposes like holding salespeople accountable for the deals they intend to close at the end of each month, determining which opportunities need executive attention and helping to estimate revenue.
3. Monthly Performance Report
Overall, you want to make sure your team is aligned and well. The performance report is intended to summarize whether things are getting done or not and might help management assess the success of a project and how well budgetary constraints were adhered to.
4. Procurement Open Requisitions
Keeping track of lost opportunities is key here. The open requisition report displays a list of requests that have not been sourced, were discarded or the customer simply cancelled the order because the product was found quicker somewhere else.
And there you have them, four basics of business management tailored for the floral industry that will keep you on the know every step of the way.
Source: Komet Sales