When it comes to financing, numbers and data are kings. And when it comes to making important business decisions, you need accurate information that you can trust. WordPress Charts and graphs can give you the insights you need to make sound financial decisions.
There are a variety of WordPress charts and graphs plugins to choose from, but some of the best ones for the finance industry are Graphina, WP Charts, ChartGizmo, and Google Charts for WordPress.
Why Do You Need to Use Financial Analysis Graphs?
As humans, we process visual data better than anything else. That’s why well-designed finance graphs and charts are so important. They offer the best way to digest and take action on vital financial metrics and insights.
According to Illinois State University, there are three standards that graphs and charts should meet: they should display unambiguous information, meaningful data, and insights of presenting data.
- WordPress Charts and Graphs will help you to keep track of your liquidity, cash flow, budgets, and expenses accurately with ease.
- WordPress Charts and Graphs will help you set the right financial KPIs for your business and achieve valuable financial goals.
- WordPress Charts and Graphs make it easy to get insights from your data.
- WordPress Charts and Graphs will analyze and bring you data-driven decisions.
Now Below are the Ideals which are needed to be kept in mind for the finance industry which you can rely on –
1) Current Ratio
Liquidity ratios are important tools for cash management and can be used to understand how well a business can pay its bills in the short term. This financial graph example shows a liquidity ratio over a 6 or 12-month period. Knowing how well your business can manage its cash flow is critical for short-term success.
This financial chart will help you stay on top of your liquidity health and performance. The two visual ratio calculations give you a quick overview, while the column chart lets you compare data and spot trends. With this information, you can meet obligations, commit to payments, and avoid any negative surprises.
2) Accounts Receivable Turnover Ratio
This pie chart shows how quickly your company collects payments from customers. The graph measures how fast money comes in, relative to the extent of credit given. This quantifies your company’s effectiveness when it comes to credit.
The sooner your business converts credit sales into cash, the better your liquidity will be, which gives you the power to handle your short-term liabilities.
3) Vendor Payment Error Rate
Managing accounts payable is essential to understand. By assessing invoice payments and issuing them to vendors, suppliers, or other interested parties, we can see how well the accounts payable department functions and identify any errors that have been made. Unfortunately, mistakes do happen from time to time, but they should be kept to a minimum.
A financial, analytical report can help you make sound decisions about your business. When you automate your data and digitalize your analysis using modern software tools, you won’t have to worry that your error rate will increase. In our example above, we can see that our average error rate is 1.3%, but it has started to decrease in the last months.
4) Return on Assets
This financial performance chart is very useful. It will help you understand how well your business can use its assets to make more money.
This graph provides a clear view of how profitable your organization is in relation to its assets. The higher your ROA, the better, so it’s important to compare this metric against your direct competitors. With this information, you can stay ahead of the competition and keep improving your financial standing.
5) Working Capital
Looking to improve your company’s ROA? Check out this helpful chart! It provides a clear visual representation of how profitable your organization is with regard to its assets. The bottom line: the higher your ROA, the better. This chart is essential to your ongoing financial progress.
Yeah! You definitely gained some knowledge from the above ideals, that your financial industry can rely on.
The above Graphs and charts that you saw earlier, were attractive right? Do you want to know with what WordPress plugin it was created with? Then the answer is GRAPHINA!!
You can create these beautiful charts & graphs with the help of Graphina lite. Now convert raw data into static data with Graphina lite.
Graphina comes with 15+ Powerful Charts & Graphs, 100+ Customization options, 1000+ Variations, and Responsive.
Try out free Graphina – WordPress Graph Plugin and I am sure you want more in Graphina that is where you can update your Graphina into a PRO version where you beautifully showcase your raw data in an Infographic manner with an unlocked feature of Dynamic Data.
Click-Here for a Live Demo of Graphina.
Click-Here for Lite Version of Graphina.
Click-Here for the PRO version of Graphina.
Each of these plugins has its own strengths and weaknesses, so it’s important to choose the one that will fit your specific needs. For example, If you need to create graphs and charts that are highly customized and highly interactive, then Graphina would be a good choice.
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