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 …
What is Efficiency Score? What is the formula and why it is important
Do you want to boost your efficiency? It can be hard to know where to begin, which is why having an Efficiency Score can be so useful. An Efficiency Score is a way of measuring the effectiveness and productivity of an individual’s work. This score acts as a marker and motivational tool – when someone knows they have achieved a …