“Understand the books. It is so critical to know your businesses position on a daily basis. I can make such fast and informed strategic decisions at the drop of a hat because I’m so involved in my daily books.” – Kyle Dods, Founder of My Place
We know how important it is for businesses to have easy access to up to date information when and where they need it. At Yoco we’re constantly learning from our data and the feedback we get from merchants, and we can’t wait for you to meet your fresh new dashboard.
Let’s take a tour.
Starting right at the top, when you now log into your Business Portal you will see what’s most important to you – the money that’s going into your bank account. You can clearly see the amount you were last settled and the amount you will next be settled. This will help with cash flow planning. We also list all your most recent transactions on the right so you have a real time feel for how things are going.
Scrolling down you’ll get to the good stuff. Are your sales moving in the right direction? See at a glance how things went today, yesterday, last week or last month. When you select one of the sales blocks it will break out your sales for that period in more detail. You can now see sales trends based on time, day, week or month.
This helps with sales forecasting and knowing when you may need extra hands to help with the traffic. You also have a snapshot of the number of sales per period, the average value per sale and the average number of products per sale. Why is this important? You can use this data to figure out how best to go about increasing your revenue. For example, if you increase your prices mid-month you can see if this decreases the total number of sales made.
Finally, at the bottom of your dashboard, you see 3 key pieces of information you can use to make decisions that will help drive long-term growth. Here you can:
- See which of your products were most popular for a given time period
- Understand customer loyalty by seeing what percentage of your customers were new vs. returning
- Know how much each staff member sold the most
Mandisa and Altus are the awesome devs behind these new updates. They’re also a little camera shy but we managed to snap a pic of them in their natural habitat.