Running any business effectively requires good decision-making, which is based on good management information. All businesses need to monitor profitability and cashflow carefully, and use management accounts for this purpose. But to boost profitability and cashflow you also need to understand and monitor the key ‘drivers’ of your business. A driver is something which has a major impact on the performance of the business. This briefing outlines:
- How to choose key performance indicators.
- The three vital areas to monitor: sales, costs and working capital.
- How to identify key drivers for your business.
- How to present the information.
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