New Features
Introducing Benchmarking by Link My Books: An Industry First
Ever found yourself questioning whether a downturn in sales is just happening to you, or if it's a trend affecting others in your industry? With the launch of Link My Books' Benchmarking tool, an industry-first, you're no longer left in the dark.
This innovative feature enables you to see how your business's key performance indicators (KPIs) compare with those of similarly sized businesses in your sector.
Why Benchmarking Is Essential for Your Business:
Comprehensive KPI Comparisons: Benchmarking lets you effortlessly compare a broad spectrum of your business's performance metrics, such as monthly growth rates, against industry averages. This comparison gives you a full view of where you stand among a cohort of businesses similar in size, offering unparalleled insights into your competitive position.
Market Movement Insights: Experience a sudden shift in your sales figures? Benchmarking clarifies whether this is an isolated incident or part of a wider market trend. This crucial information supports strategic decision-making, helping you determine whether it's time for a thorough business review or to prepare strategies for market recovery.
Operational Cost Evaluation: By highlighting how your operational expenses measure up to the average, Benchmarking identifies areas where your costs might be higher than they should be. This can lead to investigations into potential inefficiencies or a reconsideration of your pricing strategies.
Benchmarking is now available for all Link My Books customers under the Analytics menu. Dive in to explore how you compare and to harness insights that can drive your business forward.
Bugfixes and Improvements
Improvements
- New pagination & sorting options on product costs and product groups page
- Tax rates now filtered by revenue or expense type on tax wizards for Xero
- Download settlement list to CSV file
- New feature pages for payout reconciliation, COGS, VAT product groups, benchmarking, profit & loss by channel, financial analytics
- New about us page
- New for accountants & bookkeepers: partner billing and partner dashboard pages
Bugs fixed
- Automation start and end dates only going to 31st Jan 2023
- 1099-K reconciler date picker not showing 2023
Upcoming
- Integration with Seller Tool Kit (details here)
- Integration with WooCommerce (public beta open)
- Cost of Goods Sold by month
- Analytics - state of the market monthly update
What else do you want us to work on?
We’re a product led company. This means we don’t spend huge budgets on advertising and marketing to win new business, instead we focus on creating a product that genuinely solves a pain point for ecommerce sellers and accountants. We let our product do all the talking.
We’re keen to continue to learn from our customers to further improve Link My Books. So hit reply and let us know what else you think we should be working on…
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