Join Dataflo @ SaaS Insider's India 2022 on May 26 - 27
Register Now
“Strategic-operational KPIs alignment gives the organization a powerful tool to use when implementing change.” ― Pearl Zhu.
Despite the strong rebound, Software-as-a-Service (SaaS) companies need to ramp up to sustain growth and keep winning customers’ hearts (and their businesses) in an ever-changing environment.
Decision makers like you will have to make faster, smarter, data-driven decisions to balance strategy and tactics and drive the next level of agility, growth, and innovation. But do you have the clarity needed to get deep insights?
Especially when data resides all over different business applications.
For instance, how long will it take to find answers to questions like these?
If you have a dashboard that is updated in real-time and tracks your company's performance against objectives, then seconds will suffice for answering all such questions.
Gartner forecasts end-user spending on public cloud services to reach $482 billion in 2022.
And this dominance is likely to continue as firms prioritize better customer experience and visibility, lower costs, and business continuity. It is an incredibly competitive market!
Riding this wave means making as few missteps as possible. A custom SaaS dashboard gives you a brilliant snapshot of your business’ health. It gives you a quick, high-level view but with features to drill down as needed.
A well-designed dashboard is a great way to track and measure KPIs (Key Performance Indicators) across marketing, sales, customer success, finance, and operations.
For example, you can use it to track metrics like monthly recurring revenue (MRR), average revenue per user (ARPU), retention/churn rate, and other important business KPIs. That’s a whole lot of information at your fingertips.
When you have a unified view of the data, which lets everyone in the company can access it anytime, anywhere, you see where your business was, where it is today, and where it could be.
Knowing your company’s critical success factors is the first step. Then bringing together the staggering quantity of the related data and metrics.
Finally, making sense of the information to understand how well your strategy is working and what you need to change.
A live SaaS KPI dashboard, be it analytical, strategic, or operational, allows you to develop a visual story with the data that’s piped in. In easy-to-interpret formats, it highlights the most important data, enabling you to course-correct it accordingly.
It’s important to remember the metrics keep changing depending on the company's context and growth stage. For a startup, it can be value metrics at first and then growth metrics.
Or, as CEO, you might want a dashboard to benchmark against competitors, or you might want one to track the progress of multiple concurrent projects.
Don’t start by building a very detailed one. Keep it simple; you don’t need to stuff it with attractive graphics that could just end up confusing the viewer.
Building a tailored live dashboard is easy with Dataflo. You pull the data from, say, Google Analytics, social media, and email campaign tools for a marketing view.
Then you can either create a dashboard from scratch or use preselected templates and drag and drop the KPIs relevant to you.
A library of visualization tools and built-in formulas are also available.
Dataflo dashboards allow you to set up and edit alerts; when supply is running low, and can help you set automatic triggers for re-supply or prioritizing orders, for example.
Imagine if every team in your office had an LED TV that displays the team KPIs in real-time, and all these KPIs get combined to display the company’s performance against the set targets.
It will drive not only accountability but also motivation. Of course, how much transparency you want—like only top-level metrics or only wins or losses— is up to you.
Here’s the view of what Dataflo’s live dashboards for you could look like.
A 2018 Harvard Study of how CEOs manage their time day revealed they spend only 6% of their time with employees and, worryingly, just 3% with customers!
How, then, are they supposed to gauge what’s really happening within the organization or with the customers?
That’s why a live SaaS metrics dashboard is what you need to stay on top of everything from ad spend and EBITDA to lead time and average resolution time. Single-screen access to several data sets, on the go, with the ability to compare, is a godsend!
Look at some of the advantages you get:
A fast-growing B2B SaaS company that offers fintech solutions tried Dataflo. It reduced the time spent on reporting by 35% and is crushing its growth goals by making data-driven decisions faster owing to enhanced cross-departmental transparency.
A San Francisco-based venture capitalist firm uses the Dataflo executive dashboard to completely automate reporting across all its portfolio companies and saves over 110 hours per month.
Dataflo’s real-time SaaS dashboards helped a mid-stage logistics startup by real-time monitoring of driver behavior— the result: a 16% improvement in driver compliance and a 22% reduction in costs from accidents or goods damage.
“What’s measured improves” – Peter Drucker
To stay the course through current uncertainties, getting up-to-the-minute information on KPIs is crucial as you may want to reassess your value proposition, for instance.
Live SaaS company dashboards can help CEOs maintain focus on the goals they’ve set for their business, be it for deciding to use task forces or dunning mechanisms.
That said, metrics can only do so much. Ultimately it is your judgment and interpretation, and maybe a little intuition too.
There are, after all, some elements that can’t be measured. Also, not everything that can be counted is useful, and there are distortions to be considered too.
With real-time data insights and metrics visualizations, you can make better decisions, optimize your resources, and identify opportunities for growth.
Dataflo is a powerful business intelligence platform where businesses can harness the power of their data to measure, monitor, and visualize various business applications' data into one single dashboard.
Book a demo today and discover the ease of integrating your business tools in seconds – no coding skills required!
Keerthi is passionate about building products. She contributes towards product strategies and is responsible for managing the company’s analytics platform and creating new products that meet the customer’s needs. In her spare time, you can find her enjoying baking, painting and listening to music. She loves capturing and documenting priceless moments of her life.
