The Vendor Expenses metric displays the current payments due to your vendors. This key accounting KPI can help business owners, bookkeepers, and accountants track what they currently owe their vendors and what they have paid vendors in the past.
- Vendors: Anyone who provides goods or services to a company or individuals
- Expenses: The cost required for something; the money spent on something.
- Keeping a consistent flow of payments to vendors.
Monitoring Financial KPIs on a Dashboard
Once you have established benchmarks and targets for your Vendor Expenses, you’ll want to establish processes for monitoring this and other Financial KPIs. Dashboards can be critical in this regard. Read more.