Net Sales Efficiency is an important part of running a successful business, as it is necessary to track and improve the effectiveness of sales efforts in generating revenue. Whether you’re a small business owner needing to increase your bottom line or are managing a large enterprise operation with multiple products and services, having good net sales efficiency means that you …
What is Gross Merchandise Volume? What is the formula and why it is important
There’s been a lot of talk about Gross Merchandise Volume (GMV) lately, and if you operate in the e-commerce sector, it’s likely something you are familiar with. If that is not the case, then understanding GMV can be a key factor for success when assessing overall performance and making future business decisions. If you are unfamiliar with what GMV involves …
What is Inventory Turnover? What is the formula and why it is important
Inventory turnover is a critical metric that helps businesses understand their stock management. Without careful consideration of this key figure, companies are faced with the risk of carrying excess inventory, increased storage costs and potential loss in sales. Becoming well-versed in how to calculate, understanding the importance and best practices for optimizing your inventory turnover can make all the difference …
What is Cost Per Mille? What is the formula and why it is important
Are you getting the most out of your digital advertising campaigns? Have you heard of Cost Per Mille (CPM) and want to know more about how it works? Learning the basics of CPM can help you shape your digital marketing strategy, get more clicks on your ads, and maximize ROI. In this blog post, we’ll cover everything there is to …
What is Accounts Payable Turnover? What is the formula and why it is important
Are you looking to make your accounts payable process easier and more efficient? If so, then you’re in the right place. In this blog post, we will provide you with actionable steps that can help you streamline your accounts payable turnover. Whether it’s a complex vendor network or an increasing level of invoices that have become difficult to keep up …