If the data analysis phase concludes that data are strong enough to create strong conclusive data, then next phase is to create: KPI´s &/ or Cockpit
The process:
A cockpit can be made to e.g. a project manager who needs a fast overview of:
- Milestones
- Payment status
- Cost compared to budget – and what is committed and what is realized
- The use of hour and average cost rate
- Time line
A cockpit can also be made on Top management level for total control of business or with special focus on working capital.
E,g, working capital:
Stock:
- Total stock value per warehouse (with development)
- Total stock per item group. (with development)
- Total old stock (stock without movement)
- Stock turnover rates
Accounts receivable:
- Overdue invoices
- Late payments
- Future forecast on incoming invoiced (according to due dates)
- Future forecast on incoming invoiced (according to payment plan)
- Payment terms development of customers (days)
Accounts payable:
- Future payments
- Development in accountspayables
- Payment terms vendors