Most businesses prepare annual and monthly Financial Statements to comply with record-keeping requirements. Thus using these financial statements to analyse the performance of their businesses.

It's not wrong to do so, but it's just half way of what is necessary to create the whole picture of the actual business situation. As you probably know, Financial Statements are based on Accounting Work.

But Accounting is only a documentation of past business activities! Don't get me wrong, Accounting is important and could serve as a decisive help for the management. But it has only a backward oriented view.

As soon as you have your Financial Statements at Hand, all the information is already old. At the moment of reviewing the Financial Statements everything might have changed.

O.k. it might not have changed dramatically, but you still review the past. That's good, but you shouldn't do that to long. It's more important to review the information which are most actual.

You only need to monitor a few important numbers (on a weekly basis) to have a full picture of your business situation.

Using non-financial business ratios in your business analysis, will help you to recognize sales collapse, cost increases, quality declines or liquidity bottlenecks. Which all could cause serious problems to your business.

But the information you need to use are not coming from your Accounting alone.

Start to add the Missing Perspective to your Performance Management

Only Measure what Matters!

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