Have you ever analysed the difference of a contemporary car's dashboard in comparison to a vintage or old car's dashboard.
Those who are lucky to have driven old as well as new cars will agree to what I am going to state below.
What you see on the left is the dashboard of vintage car. Yes, it provides a lot of information, most commonly seen are speed of the car, level of fuel, charging system level, temperature of engine, working speed of the engine and oil pressure. These vital information is critical for you to ensure a smooth ride. The dashboard information provides early warning signals to help you take corrective or preventive actions. The level of information is adequate, but not yet complete to provide you with the ultimate driving experience.
Shifting our focus to a contemporary car's dashboard. You are amazed with the level of information that is shown to you in new car's dashboard and how these information helps you feel a better driving experience....
I am sure that every one would feel much more empowered with your new car's dashboard as it brings to you a whole lot of information about your vehicle whether in idle state or in motion.
An interesting change is that the new age dashboards begin providing vital information even before starting the engine. What we can consider as preventive information. The quality of information that is made available to you is many fold better than what we get from old car dashboard. Technology has supported this immensely.
I have come across people, who have the habit of monitoring the critical information about the mileage of the vehicle and go for making necessary adjustments in their driving style to ensure optimal mileage for their car. Basically ensuring efficient usage of the resource - fuel - in reaching the target
The online maps, routes, traffic status helps us to take the best and shortest route to our destination.
Nowadays new age cars even provide you real time information of tyre pressure, warning signals for any dysfunctional things etc..apart from mileage.
I do not think this was ever possible, in real time, while driving an old car which showed just elementary information in its dashboard. I remember that to find out mileage at times, we would first attempt to ensure that the fuel tank is full and then drive the car for a particular distance and again refill the tank until full and then go for manually calculating the mileage.....
In new age cars, you do not need to all this as there is live information produced for real time mileage plus the overall mileage for the past few days...
And how this information has helped you is that ......you tend to take better decisions with respect to performance of your car, the maintainence of the car, adapt your driving habits to generate the best performance from your car.
One can easily reflect the above points in your business, the additional information which shall provide you with a sense of confidence and power, when you have the financial management reports that shows your performance from various perspectives, handy on real time......
In any business, you need the financial data that is recorded in your systems to be collated, dissected and analysed to boost the value generated from your finance function. And this is primarily the responsibility of financial planning and analysis team constituted by the management accountant /s.
An effective planning and analysis function can perform the role of new age car's dashboard to ensure that your business journey is smooth and happy. It will enhance the quality of information that is generated from financial data will help your Business to take the path to greater success.
In this dynamic world, all businesses will need a dashboard as found in latest cars and cannot rely only on the financial accounting data to survive and grow.
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