Top 7 Reports Every Business Owner Should Track Weekly

There is more to running a business than hard work and basic understanding; a business owner who will be successful will rely on well informed, data-driven insights to drive their decisions, and ultimately their growth and profitability. Weekly reporting is an effective way to use back-end metrics without feeling completely overwhelmed like one might feel from daily reports. 

In today’s marketplace, the organizations that survive and thrive do so because they are tracking key performance indicators (KPIs) and adapting accordingly when trends change. This complete article will cover seven reports that every business owner needs to read weekly and stay aware of their organization’s health and forward projections.

Top 7 Weekly Business Reports Owners Must Track

Why Weekly Business Reports Matter for Success

The Strategic Benefit of Consistent Monitoring

Weekly reports act as your business compasses, which means you can check-in regularly on your progress towards your goals. You can also catch emerging problems before they become expensive to fix.  Monthly reports can help you see trends but they’re often too slow for a quick response or fix. Weekly reports help you make decisions quickly and alter plans.

Develop a Data-Driven Culture

When business owners, review reports on a weekly basis, they start to create a culture of accountability and performance awareness throughout the organization. Team members will tend to focus on the metrics that matter, which ultimately drives performance for the organization as a whole.

Report #1 - Cash Flow Statement

Grasping Your Financial Lifeline

Cash flow is the lifeblood of all business. Your weekly cash flow report should include everything that’s coming in, going out and your cash on hand. The cash flow report assists you in avoiding cash shortages that would hamper or halt ongoing business or growth opportunities.

Key Items to Track

  • Accounts Receivable Aging
  • Accounts Payable Schedule
  • Breakdown of your Operating Expenses
  • Facilities/Operating Capital Expenditures Needed
  • Your cash reserve and available credit

Report #2 - Sales Performance Dashboard

Tracking the Revenue

Your report on sales each week provides valuable information about sales patterns, and are a goodBarometer of which products, services, or sales channels are winning the competition for buyers. The better you understand what’s driving revenue, the better you can make decisions on changes to your sales strategy and how quickly you can re-order resources.

Essential sales metrics

  • The total volume of sales and total value of sales.
  • The overall conversion rates from sales by channel.
  • Average transaction value.
  • Sales pipeline is where it is today.
  • Customer acquisition costs.

At least identify changes to sales trends early.

Monitoring sales weekly helps you see seasonal trends, changes in buyer behavior, or any issues in performance early enough to be able to do something about it.

Report #3 - Customer Satisfaction and Retention Metrics

Consequently, a customer satisfaction score is a proxy for measuring our customer health. Perform regular weekly reviews of customer satisfaction feedback, support tickets and client retention rates to continuously monitor client relationships and to avoid possible churn risk.

Key Customer Indicators

  • NPS trend reports
  • Customer service response times
  • complaint resolution reporting
  • repeat purchase rates
  • changes to lifetime value in new customers

Report #4 - Inventory Management Report

Stock Level Optimization

For businesses that create a product, Weekly Inventory Reports help in minimizing the potential for stockouts and overstock situations. Weekly inventory reports allow businesses to evaluate customer demand against the carrying costs of products and storage limitations.

Inventory Optimization Measures

  • Stock turnover rates
  • Days sales inventory
  • Reorder point analysis
  • Slow-moving inventory identification
  • Supplier performance tracking

Report #5 - Employee Performance and Productivity Analysis

Maximizing Human Capital 

Your team is your most important asset. Weekly performance reports allow you to ensure that employees are meeting their established goals, note training opportunities, and recognize high performers. 

Workforce Performance Indicators

  • Individual and team productivity measurements
  • Project completion rate
  • Employee utilization rates
  • Employee training progress tracking
  • Use patterns for absences and overtime 

Supporting Employee Development 

Regular performance measures will help you to identify professional development opportunities and ensure employees or team members receive support and training they need to meet their performance and productivity goals.

Report #6 - Marketing ROI & Lead Generation

Evaluating Marketing Effectiveness

Knowing your most effective strategies for the best ROI and efficiency will allow you to optimize your marketing budget, and your marketing strategy. Weekly marketing reports will reveal trends in campaign performance and lead quality. 

Metrics Related to Marketing Performance

  • Cost per lead per channel
  • Lead Conversion rate into customers
  • Website traffic metrics and engagement
  • Social media performance metrics
  • Tracked outcomes of email marketing.

Report #7 - Financial KPIs and Profitability Assessment

Monitoring Business Health

Your weekly financial KPI report provides a thorough understanding of the profitability of the business and the efficiency of operations. These metrics both confirm that your business is financially healthy and in a competitive position.

Key Financial Metrics

  • Gross profit margins 
  • Operating expense ratios 
  • Debt-to-equity ratios
  • Working capital requirements
  • Budget variances

Best Practice of Weekly Report Implementation:

Business Weekly Reporting

Set Consistent Review Time

Take the time every week to review these reports and establish a routine. When we review reports consistently we develop habits that can lead to better business outcomes and more knowledge in making decisions.

Automate Reporting with Technology

There are many business management software systems on the market today and your organization’s reporting can be automated, saving time and ensuring both consistency and accuracy in reviewing these reports weekly.

Integration

Integrated systems will provide complete dashboards that include the seven report types, and will display all business information in one place.

Making decisions based on data

While weekly reports can be information rich and develop insight, the value of that information can only be assessed once we make a decision to do something with the information; either to course-correct strategic decisions, to celebrate successes, or to address opportunities of concern in a timely fashion. By daily weekly reporting, it creates a starting point for achieving sustainable economic growth by ensuring that you account for the metrics that really matter! 

 

So, are you ready to simplify your workflow for reporting state of the business? Reach out to BusinessEzee, to discover how our Business Management Software can automatically generate all 7 weekly reports needed, and all the value within those reports will be actionable to you when you use BusinessEzee!

BusinessEzee’s integrated platform combines financial tracking, inventory management, customer information, and operational performance tracking into all of your business reports.

 

Contact BusinessEzee today to obtain quality reports, and to take control of your business success!