Use FlexiBake to Assist With Year End
Year end is always a busy time with holidays, family, and a lot of business processes that need to be completed.
Between gathering the right information for taxes and shareholders, analyzing the previous year, and building departmental budgets it’s almost impossible to keep up! That is, unless you’re using FlexiBake.
Year end reports at your finger tips
We have a number of great reports available to help with year end. These include:
- Cost of Good sold – COGs is a critical report for every business, the ability to analyze where a chunk of revenue goes is extremely important.
- 40+ sales and revenue reports – Every business analyzes their sales a little differently, which is why FlexiBake offers an array of revenue and sales reports. Just let us know what information you’re looking for, and we’ll teach you which report to use.
- Accounts receivable reports – Knowing who still owes money at year end is important, having that information instantly accessible should be a requirement!
- Inventory movement reports – Properly analyzing inventory movement and turnover can really help while making decisions on storage requirements and minimum stock levels for next year.
Analyze previous year trends and industry changes
Reporting is great, and the reports we’ve just discussed can give you a wealth of information with a simple glance. Sometimes large volumes of data are too hard to analyze just by looking at a report, that’s why FlexiBake comes with so many analysis tools. To name a few:
- Analyze purchases and costing – when defining budgets for next year’s purchases, it is great to be able to analyze supplier pricing side-by-side. When negotiating contracts, knowing how much your business is worth to a supplier helps you get the best deal possible.
- Analyze production yields – The production floor is hectic, busy, and always moving. Using FlexiBake’s analyze production tool, managers can analyze shift or product yields side-by-side to see where more training or better equipment may be required.
- Analyze sales vs. forecasts and returns – At the end of the year sales managers can view actual sales vs. expected forecasts with FlexiBake’s forecasting tool. They also have tools to measure returns by product or customer and find out if certain products need to be removed from the product line.
- Analyze Margins – Knowing which products are profitable is key. Using FlexiBake, you can find hidden costs in labour burdens, commissions, or overhead that need attention.
Forecasting tools help prepare for the new year
The reason we collect data and stats at the end of the year is to assist with important business functions like budgets and updating processes. FlexiBake gives you the information you need to make those important decisions. Here are a few of our favorite forecasting tools:
- What-if tool – forecast product margin changes easily based on raw material price changes and labour cost changes at either a product or recipe level.
- Sales forecasting tool – The sales team is able to enter specific sales targets for the year either by customer or by product. Actual vs expected sales figures are then automatically tracked.
- Manage and analyze promotions – Scheduling promotions for the upcoming year allow the purchasing team to stay on top of inventory requirements and the production team to schedule production accordingly.
Keep growing, keep organized, and keep getting better – with FlexiBake! Set up a demonstration of FlexiBake today.