Who can use this feature
Roles: Owner, Admin, Staff
Plans: Available on Plus, Advanced and Scale
Financial
The "Oversight" tool is useful when it comes to delegating responsibility among members of your team and keeping tabs on the entities within your organization. Navigate to the "Oversight" tab and then to the "All Entities" sub-tab as shown by (1) in the image below.
"Oversight" consists of a variety of views that are at your disposal. Each view has a list of all the entities you have on Syft and gives you specific key information that helps you get a sense of how well each entity is doing in that view category. The "Financial" view provides a high level look at all of your entities' financial data within a single dashboard.
Health score
A health score is calculated in all views except "Transactions", indicated by (2) in the image, to show how healthy the business is in terms of finances or sales or cleanup. There are certain key metrics used in calculating these health scores which you can edit by navigating to the "Health" tab within "Visualize" > "Overview".
View features
Within all views you can:
Take a look at entities' health scores shown by (3) in the image above
Analyze and compare key figures for each entity and view category at a high level
Change date ranges at the top of the page to quarters, weeks, years or to any of our more advanced date range options, such as Monthly (Day-to-Day).
Duplicate the view to create your own customized view shown by (4)
Segment the view by applying filters shown by (5)
Change the default view from Current to Growth or Growth% by clicking the dropdown
💡 Pro tip
Sort from highest to lowest by clicking at the top of any of the columns.
You can also segment your view by using filters and search for particular entities in the search bar. To add a filter:
Click on “Filter” and "New" indicated by the + icon
Give your filter a name
Select a field and a match condition
Choose to share this filter with your organization or "Only me"
Click "Save"
To remove a filter, click the X within the filter dropdown. Your filter will be saved so you can apply it again at any time.
📓 Note
You can switch between Table view and Graph view according to how you would like to see your financial data represented.
🛠️ Use Case
You might consider offering budgeting or cash manager assistance if one entity has poor cash flow. You could also create create a filter for all entities running at a loss so that they can be monitored closely.
Build view
To build a custom view:
Click on the “Build View” top tab
Name your new view, then click “Create”
Click on "Add Column" you can select a category and columns within that category (you can select multiple columns)
Move, reorder, and rename columns (you can create equations as columns)
Select a date range option that works for you.
Choose between Table view (the default) or Graph view
Remember to click Save view before you leave
💡 Pro Tip
Alternatively, click “Duplicate view” to duplicate a pre-existing view where you can change the columns instead of building a custom view from scratch
When you return to Oversight, you can select your custom view from the top of the screen.
Sales
The "Sales" view within "Oversight" examines the more operational aspects of all of your clients’ businesses as it focuses on sales metrics across customers and products. If a client is performing very poorly in sales, you could use this information to provide advisory services.
You can sort by any metric and create filters to view subsets of data. The metrics you can view include the following:
New Customers
Active Customers
Sales
Average Customer Spend
Median Customer Spend
Sales Gross Profit
Discounts Given
Quantity Sold
Unique Products Sold
Average Products Per Purchase
Median Products Per Purchase
🛠️ Use case
Analyze what clients, with a high number of active customers, are doing well and try to replicate that in entities with lower numbers of active customers. New customers speak to growth and active customers speak to customer retention and service.
So, a drop in active customers could mean that your client is providing a poor service. If so, you could advise them to investigate what’s happening in terms of their service offering and how they could improve this going forward.
Transactions
The "Transactions" view enables you to monitor the volume of customer, supplier, bank transactions and total transactions across all of your connected entities to Syft.
Within this high-level overview of entity transactions you can take a look at:
Invoices
Credit notes
Bills
Supplier credit notes
Customer payments
Supplier payments
Bank transactions
Manual journals
System journals
The total of your transactions
Anomalies
Within the "Anomalies" view you can see the number of anomalies within your financials and the value of these anomalies. You can also create your own view of anomalies by duplicating the current view and moving columns or by adding a filter to your view.
Financial anomalies pull through from the audit anomalies feature found by navigating to "Review" > "Anomalies" > "Health" where you can add criteria to include in your anomalies health score such as:
Balance anomalies
Balance accounts
Credit/debit anomalies
Credit/debit accounts
Credit anomalies
Debit anomalies
VAT/GST Anomalies
VAT/GST Accounts
Estimated VAT/GST
Classification anomalies
Classification accounts
💡 Pro tip
We would recommend looking at the previous 12 months to get a better sense of your anomalies in various accounts.
Cleanup
The aim of the "Cleanup" view is to look at all of your connected entities' audit data score and other audit data metrics as well as keep tabs on old receivables and payables that may need to be written off.
Pricing
Syft's pricing tool gives you a thorough look at how you are pricing your clients as it shows you if you are overcharging or undercharging clients and it also shows you opportunities to increase prices for certain clients.
Build a new view within the "Oversight" tab and click "Add column", as shown below. In the popup you can select which pricing metrics you would like to include in your Build view.
In a pivoted view, you can view your metrics by each entity you include in your Build view. Use these details to check your pricing strategy, you can check if you might be charging too much or too little. And then you can adjust that appropriately.
Another way of using this information is to look at it in terms of growth or growth percentage. Additionally, your customer's ability to pay you is indicated by the amount of times they would be able to pay. If they can’t afford to pay you even one time, you may want to consider renegotiating a payment plan.
Look at billing per transaction, income, profit, and growth percentages for better decisions.