How does Business Activity Monitoring and Controlling support you in selecting the right opportunities for your startup?

The resources of a startup are scarce in terms of capital and man-hours. Consequently, it is necessary to use them as efficiently as possible. A business monitoring and controlling system that tracks performance and the external environment assists you in this challenge.
Regular reports provide you the relevant business information to make sound decisions and allocate resources to the tasks and opportunities that generate the greatest value for your startup. To find out where there is room for improvement and expansion, you can track performance in the following business areas

1. Financials
2. Sales and marketing
3. Operations
4. Team

Additionally, in the external environment
1. Market size
2. Growth rates
3. Trends
4. Emerging competitors
5. Customers

Regular reports reveal patterns and help you to identify the right market, address the right customers and gain market share. As a result, focusing on the right opportunities at the right time leads to competitive advantages, hence, more profitable and efficient growth.