In the past few promotional features for the webinar I am hosting on August 26, 2021 about the new Qvinci® Turnkey Advisory Program I have told you how unique program combines (1) the Qvinci Advisory Portal, (2) report-based advisory components including Qvinci’s KPI Scorecard, and (3) marketing elements that will set you apart from your competition. These are what Qvinci conveniently refers to as ‘Phase 1’ Steps 1 through 3 of the program (shown in the illustration below).
Last week my article dove into Step 1, a ‘Review of the Metrics’. That Step begins with Qvinci’s Advisory Portal which is where you find all of your clients displayed, and get a dynamic view of each client’s financials, illustrating favorable (GREEN) or unfavorable (RED) trending across multiple time periods for the 10 key ratios that drive most organizations.
Source: Qvinci Turnkey Advisor Program content
But this article isn't about Step 1, it's about Step 2, 'Generating the Reports' needed to provide Advisory Services to your clients, which includes the KPI Scorecard (like the one shown below) and other financial reports.
Source: Qvinci Turnkey Advisory Program content
Typically it takes less than 2 minutes per client to download the reports once you have selected the packages you wish to download. One of these packages is the KPI Scorecards. When you select this package Qvinci automatically populates the accounts and data needed for your selected client and delivers the information in the Excel-like format with multiple tabs across the bottom. Each tab contains different KPIs and views.
Qvinci’s Automated KPI Scorecard selects the top 5 Income and Other Income, COGS, Expenses and Other Expense accounts as well as Pre-Defined KPIs for all of your customers connected to Qvinci. This Scorecard is designed for easy understanding of business areas that are both performing well, and those that need attention using the same favorable (GREEN) or unfavorable (RED) numerators as used in Step 1. The intent of the format is to motivate your clients to reach out to you, as their 'financial advisor' for assistance in helping them focus on areas which are negatively impacting their bottom-line and which need immediate attention.
One of the tabs across the bottom of the Scorecard is the Guidance tab which provides an explanation of how to interpret the scorecard. Column B shows the formulas used by Qvinci in calculating ratios displayed in the KPI Analysis. If you click the KPI tab you will notice astericks and associated footnotes at the bottom of the scorecard that provide even further details which we will discuss during our upcoming webinar.
To give you some idea of the other reporting you will get as part of Step 2 of this new Qvinci® Turnkey Advisory Program let me tell you just a little about the Running Cash Balance Analysis Year Over Year by Month. This reports provides a KPI of the running cash balance analysis year over year and by month with a variance in both numerical and graphical presentations (as shown below). The red line on the horizontal axis shows the variance. When the red line falls below zero on the right vertical axis that indicates negative progress.
This is just one example of the kind of unique business analytics you get from Qvinci®. During our webinar you will get to see these and many other examples of the reporting available to you in action, and learn how you can utilize the various reports to help your clients dive more deeply into those business areas that need attention. And because you were able to help them recognize those areas, they will also recognize that you are the right person to assist them in turning things around and resolving their financial difficulties. You have just turned 'reporting' into 'financial advising'.
This new Qvinci® Turnkey Advisory Program can really help you provide a level of service to your clients like never before because it's an all-in-one streamlined package. That's why I am asking you to join me and Charles Nagel, the Founder and CIO of Qvinci, on August 26th at a special Insightful Accountant webinar at 2:00 PM Eastern as we discuss this new program and how it can totally transform your accounting practice from 'crunching numbers to financial advising'.