There’s so much to know about running a small business, that it’s not always possible to know it all. However, if small business owners choose the right software to accompany their business operations, there’s a lot they can gain in terms of support to their business, digital tools and even data driven insights into the most important aspects of their businesses.

One of the major tools in the vcita platform is the Reports feature. This feature allows small business owners to gain an in-depth understanding of their business operations, clients, staff, finances and more. 

In my experience, small business owners who use this feature not only have the knowledge to maneuver their business smartly, but they also feel more in control over their businesses needs and are able to better predict and prepare for any potential anomalies.

In this article, I outline the top reasons vcita’s small business clients use Reports and how it benefits their day- to- day.

They get a look into the overall performance of their business

The reports available on the vcita platform give an overview of the business’s finances, marketing and overall performance. From gaining proper insights into their income to understanding which marketing campaigns are their top performers, our small business users analyze their business performance and make smarter decisions on how to run their business.

For example, some of our users have been able to condense their marketing campaigns and focus their efforts on those that are actually successful. Without reports, small business owners are in the dark regarding click rates, conversion rates, and the overall success of their marketing. vcita Reports enable the business owner to maximize their use of the marketing tools available to them and hone in on a strategy that best fits their business.

But marketing campaigns are just the beginning. Our Reports users have managed to attain a better grasp of their business’s financial health, making them more apt at speaking with investors or lenders. If they can talk the talk, they can present their business as a more lucrative financial opportunity and therefore better secure the funding they so desperately need. As cash flow is one of the major bottlenecks for small business’s success, this aspect of the Reports feature is crucial to their survival.

They learn which staff are their top performers and optimize their client experience

Reports allow small business owners to readily view their staff members’ performance and use that information to enhance their client experience. If there’s a staff member that is a top performer, meaning they have the least cancellations, they are the most requested, or they are the most active in the business, they’ll be able to tell easily with Reports.

Since staff directly relates to client experience, a bad apple can cause a bad name for their business. Using these reports to better train, hire or even fire staff members is an important tool to have in their possession. In fact, vcita Reports users can use this information to gain better insights on which staff performs better for different services and organize their staff’s calendars and appointments based on data about their overall performance. 

Many users commented that they were able to promote one of their staff members and decided to reroute unhappy clients to their top performing staff member. This ultimately improved their business relationships and their bottom line as these would-be lost clients ended up staying on and continuing their business with the SMB.

They identify trends in their income and properly forecast for their business

Income is unpredictable, especially for service-based small businesses. Luckily, there is a whole section of Reports dedicated to the business’s finances. Using Reports, our users have been able to identify trends in their income and better budget for their business. Those who keep detailed accounts of their expenses were able to to pair their own records with vcita Reports and create a sound financial plan that kept their business afloat during the slow months.

Not only that, but by being able to compare month over month and year over year in income, small business owners can foresee the slow months and replicate what worked in the previous years to ensure their business is successful year round.

Further to seeing obvious trends in their income, Reports users have all the information they need about outstanding payments and can strategize or reach out to clients that have yet to pay in an organized manner. Instead of going client by client in the CRM, looking to see who owes what and sending reminders manually, Reports help users improve their payment collection processes and increase their revenue generation. 

They see how their clientele engage with the business

Once a business has many clients, it’s almost impossible to keep track of who has paid, who showed up and who is worth continuing to service, which poses a risk to the business’s growth. Reports users can mitigate these risks by gaining access to analytical data that presents their clients’ behaviors and enables them to make better-informed decisions about how to work with them. For example, many of our reports users have condensed their client base and focused in on clients that are active. They realized that having a widespread client base might look nice on paper, however, when they take a deeper look and see the clients that constantly cancel or don’t show up to appointments, they find it’s simply not worth the time and effort it takes to retain them. 

This way, it’s easier for small business owners to “trim the fat” in their clientele and offer services to their most loyal clients. Or, in turn, identify their most loyal clients and reward them with either a loyalty program or some kind of discount. Additionally, they use this information to request online reviews from their most satisfied clients, boosting their reach to new clientele.

One of the main reasons small businesses struggle to get paid on time is having to chase clients for payments who often forget about them. By using Reports, small business owners can keep track of who has paid and filter out clients who have yet to pay. They can then take action, like sending payment reminders, and ensure they get paid faster and in full. In fact, our Reports users have shown four times more incoming revenue than those who don’t use the feature. This is largely due to the fact that they can view and track the status of payments and easily create a  strategy to close the outstanding payments to their business.

They create a better business strategy and market sought after services

vcita Reports display an organized view of the services the business offers and break them down based on popularity, revenue generated, and appointments made and executed. When coming up with a business strategy and looking over which services are best suited to their audience, small business owners use Reports to analyze their existing offerings and see which of their services generate the most revenue. 

Being equipped with this information also helps with marketing the business. Since marketing services is the most effective way to attract business, small businesses can use the information available to them in the reports to figure out which services are more worthwhile to market to their audience. Our Reports users have found a significant spike in revenue because they refined their strategy and put more effort into their more popular services.

vcita Reports serving small business owners across the board

Every business needs data. Small businesses that make up a large portion of the global workforce need data more than ever to refine and enhance the way in which they operate and strategize for their business. By using vcita’s Reports feature, small business owners unlock a part of their business that they previously had no access to: crucial data for each aspect of their business operations.

From understanding their business finances, marketing, and preferred offerings to gaining insight into their staff, clients and overall business’s health, Reports users acquire much more than just data. They also are given the confidence to make smarter business decisions and grow their business based on information aggregated, without having to take a shot in the dark. This confidence aids these small business owners in raising their prices, expanding their offerings, obtaining funding, and much more.