Metric – The most founder friendly finance app in the world!


Introducing Growth Goal Feature: Elevate Your Business Ambitions with Ease!

As the famous saying goes, “If you fail to plan, you plan to fail.” This sage advice rings true for your business as well. Setting clear, achievable goals and continuously tracking your progress towards them can be the key to your success. Imagine having a growth target that you review daily, with each step of your progress visible in real time. This strategy can increase your chances of achieving that goal tenfold.  The team at Metric, with their extensive experience in running businesses and mentoring business owners, understands this critical requirement. That’s why we’re thrilled to bring you a feature that makes this essential step even more accessible. Metric now lets you set a growth rate and allows you to monitor your progress towards that goal with every income entry. The dashboard provides a continuous visual representation of your progress, not only motivating you to succeed but also ensuring you stay on the right track. It offers transparency of growth to all parties involved, creating a shared vision for success. How does it work? Unlock the magic of Growth Goals with these simple steps: Head to dashboard and tap on the growth goal to set your sales target Select the sales target percentage you’re aiming to achieve for the month. Metric instantly calculates the number of orders required to hit your growth goal, providing you with a real-time visual on your progress. With each new order you record, watch the required number of orders decrease, keeping you motivated and informed every step of the way. Benefits: This feature is designed to elevate your business ambitions and thus achievements: Set clear growth targets for your business and watch them come to life. This boost keeps you motivated and on track, helping you stay focused. Metric delivers instant updates to your sales targets as income flows in. Gain immediate insight into your progress, allowing you to compare months where you achieved your target with those where you fell short. This data analysis will help you discover which strategies, campaigns, or processes bring the best results. Stay on course with your growth plans, making it easier to take action. When you can see your progress all the time, it’s like catching problems before they get big.  Imagine the sense of accomplishment as you reach your growth goals with the support of Metric’s Growth Goal Feature. It’s a game-changer, and it’s right at your fingertips. Ready to take your business to new heights? Dive into the app now and embrace the power of hassle-free growth tracking. Your business dreams are just a tap away!

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Introducing Recurring Transactions: Simplify Your Monthly Payments

A significant chunk of the start of each month is consumed by the repetition of similar financial tasks. Whether it’s rent, salaries, investment dividends, or various service subscriptions, these regular transactions tend to monopolize your valuable time. But imagine the relief of automated monthly deposits, seamlessly integrated into your business journey. Once again, Metric is here to make your life easier, introducing a brand new feature that allows you to automate both your recurring expenses and income. It’s like clockwork; each month, your predetermined transactions are effortlessly executed. No more manual entries, no more worries about missing a crucial payment or deposit. Just smooth sailing! Set the date, frequency, amount, and transaction details, and let the system handle the rest. This smart and efficient solution eliminates the hassle of repetitive tasks, ensuring your financial records stay up-to-date without requiring any effort on your part. How does it work? Getting started with Recurring Transactions is as simple as 1-2-3: Head to the “Add Transactions” section and select “Expense or Income.” Fill in the rest of the details accordingly – amount and payment status. Check the “Recurring Transaction” box and choose the frequency, such as monthly, quarterly or yearly. Lean back, relax, and let Metric take the reins. Your recurring transactions will be seamlessly managed, ensuring your financial records remain current. Benefits: Eliminate the need for manual entry of recurring transactions each month, freeing up valuable time. More importantly, Set it and forget it! Once configured, the system handles the transactions automatically. It minimizes repetitive tasks, allowing you to focus on more strategic aspects of your business. Ensure that crucial payments like rent, salaries, and other service charges are always made on time. Maintain an accurate record of all recurring transactions in one place, where you can conveniently view, edit, or delete them. With this new feature, your business journey becomes smoother. Hand over the repetitive tasks to Metric while you focus on steering your business towards new heights. It’s another stride forward in making your entrepreneurial journey as seamless as possible. Discover the power of Recurring Transactions today, and effortlessly keep your business moving forward!

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Introducing Discount Feature: Streamline Your Income Records

You’re running your business, and you want to offer discounts to your valued customers. But every time you do, it throws your financial records into a tangle. The fixed price isn’t so fixed anymore, and manual adjustments are a real chore. Enter the game-changer, Metric’s new Discount Feature! This nifty addition takes the hassle out of handling discounts, making your life easier and your records crystal clear. How does it work? Here’s your simple step-by-step guide to unlock this feature: Head to the “Income” section in the Metric app. Enter the payment details as usual. Look for the “Discounts” option and toggle it on. Enter the value or % discount offered Watch Metric automatically apply the discount to the total income. Benefits This feature offers remarkable advantages for your business: Add discounts seamlessly to your income transactions, keeping your records accurate. It offers precise and better reporting resulting in more accurate records. You can now view discounts offered in reports and invoices.  No more manual discount calculations, Metric does it for you, ensuring a hassle-free experience. With the new Discount Feature, your business operations are getting a boost. Forget the days of tangled records and manual adjustments. It’s time to experience the simplicity of Metric’s Discount Feature. Why wait? Dive into the app now and uncover the magic of hassle-free discount management. Your business deserves it! 

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Introducing Founder Report

When you’re a business founder managing everything on your own, it can get hard to separate your personal finances from your business funds. You’ll be tallying everything at the end of the month and the numbers just won’t add up. Suddenly, you’ll get a flashback of when you used your personal account to handle a business expense and things will start making sense again. Keeping your personal and business accounts separate is as exhausting as it is important. Overcome this constant state of chaos and replace it with something that’s both easy to use and reliable. That’s where Metric comes in! Metric helps you keep track of funds that a founder may owe to the company and vice versa, helping you avoid unnecessary mixups. The Founder Report is a useful feature, curated to streamline your company’s finances.  How Do Founder Reports Work? Whenever you’re adding income or expense into Metric, you are now asked to enter the payment status to decipher who has received or paid the amount for a particular transaction. This helps in identifying the payment made by or to founders so that a report can be generated to show the founder’s balance.  How Does the Founder Report Help You? With the Founder Report, you can easily keep track of all your expenses , including what you, as a founder, owe to a company and what a company might owe to founders. All the entries are updated in real time so you can stay informed about your busainess finances in a few clicks. 

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8 Effective Ways to Reduce Overhead Costs

Your overhead costs are parasites eating up your business little by little if not kept in check. Those forgotten subscriptions, unnecessarily high rents, inefficient employees, and internet charges leak all your revenue without you even realizing it. You certainly need to spend money to earn money, but you can avoid these pitfalls that hamper your company’s growth. There are many ways to decrease overhead expenses, increase profit margins, avoid cash flow problems, and keep your business afloat even through economic downturns like the one we’re experiencing these days. All of your business’s recurring costs that do not directly impact the production are overhead costs. Office rent, maintenance, employee payrolls, management and marketing charges come under the tag of overhead costs. It is a good practice to keep your overhead costs in check throughout the year, but economically unstable times and low revenue seasons, require more action on cutting overhead expenses to a minimum. Let’s dive deep into ways to reduce overhead costs without damaging your growth or quality. 1. Analyze A Deep Analysis of your Business’s Revenue Before you get on a layoff spree, do an in-depth analysis of your revenue model and your bottom line. Go through your profit and loss statement line by line, and examine what might be a waste of money. This would allow you to cut out funds going towards things you don’t necessarily need. Metric develops the profit-loss statements for you while giving weekly, monthly and yearly cash flow reports, which limits this lengthy procedure to merely minutes. This occasional check keeps you aware of your financial health and spending trajectory. Revisit Costs After a period of big growth and profits, be careful to revisit all costs and make decisions based on updated data. While reviewing, mark off items that you consider expensive, that can be made more efficient, or those that are simply not needed anymore. All such items can be eliminated when the company requires.  Scale Down Variable Costs Desperate times call for desperate measures. During low sale periods or a global recession, you must scale down on variable costs that are acceptable and even preferred in normal business operations. Once you’ve reviewed your costs, you can cut down on some unneeded liabilities and temporarily stop a few services. This step might require a change of strategy or even a different mode of work for employees but would greatly benefit in saving the company’s revenue in hard times.  2. Automate Automate Payments Suppose you keep forgetting the bill payment due dates and always end up paying fine charges. This might seem like a small amount but when added every month costs you a great deal which could easily be avoided by timely payments. Metric helps you optimize your cash flow by paying invoices on their due date thus saving you from overdue bills.  Automate Administrative Tasks Automating generic tasks like invoicing, appointments, scheduling, client follow-ups and others of the sort through apps like Metric, takes so much off your plate. Companies hire separate employees for these functions which costs you an extra expense. Mostly, founders try to do it themselves with their already hectic schedules, this burns them out and greatly increases the risks of error.  3. Invest in an Accountant You’re laying off your visiting staff, and we’re suggesting a new hire! Regardless of how ridiculous it might sound to you now, you’ll thank us later. Tough times require accountancy support like never before. Taking the right decision, saving your revenue, and keeping your company afloat, all while dealing with a recession is not something you could manage alone. With all other things, you need the support of an accountant for cutting overhead costs and helping you with the layoff if needed.  Metric’s “Growing” plan offers you automated generic tasks along with professional accountant support. However, if you’re a small company and can no way invest in an accountant right now, then Metric’s free plan works best for you. It facilitates you through insights and cloud-based real-time financial dashboards that assist you in making the right move in your business.  4. Re-evaluate Office Space and Equipment Expenses  Cost-Effective Office Space A larger part of your revenue goes into office space rent. A great office location undoubtedly reduces turnover rates and absenteeism, both of which can be sources of great financial loss. However, if your company is going through hard times, it’s always a good idea to reevaluate your office size and location. If your operations and productivity don’t get affected by a different location or a smaller office, it’s time to move.  Rent not Buy Equipment For your operations, you might need a few pieces of equipment once a month or even less. For a small business, it’s not smart to invest in buying equipment that you would use this rarely. Reach out to suppliers renting those pieces of equipment, make a contract of monthly renting for a few days, and save your precious capital.  5. Smart Employee Management  Trim Excess Staff When your business was growing and spreading, you might have hired a larger workforce than you require. Employee wages are one of the highest contributing factors to your overhead cost. Low performers are a drain on the company but layoffs certainly do impact the morale and productivity of the employees left. Thus ideally, it’s always better to make smarter hiring choices and go for multi-skilled candidates that could be used in other roles when needed.  Invest to Reduce Turnover  The company invests a huge amount of capital, time and effort in recruiting and training a single employee. According to this report, Voluntary employee turnover costs U.S. businesses $1 trillion per year. Even if you have other important expenses, setting an amount to maintain a healthy work environment and incentives for staff to stay is a must. IN economic downturns or company’s hard times, you can go for cheap alternatives to have the team refreshed and entertained. It is always a good choice to involve your team in the

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