The universal language of business

Suzanne Wilson, Chief Marketing Officer of Gaidge, discusses how to keep a pulse on essential performance metrics in your business

As a business owner, keeping track of your money is the most fundamental part of business. The inflow and outflow of cash is the lifeblood of the business and the single ingredient that differentiates those who keep the doors open and those who cannot. The orthodontics industry reports one of the lower overhead percentages among dental providers, with orthodontic practice overhead ranging from 49% to 60%. Knowing your fixed and variable overhead expenses directly impacts what you take home or how much you have left over to make investments. None among us can thrive unless our minds are dialed in to the flow of our money, and the key to profitability and growth is knowing the numbers.

Gaidge is a tool that helps practice owners keep a pulse on their essential performance metrics, providing the information required to run their businesses better. In one comprehensive software platform, orthodontists have access to quickly review their key performance indicators across all areas of the practice with easy-to-understand charts, summaries, trends, industry benchmarks, and practice comparisons.

Now introducing the new Overhead Expense Tracker™

The Overhead Expense Tracker™ is now available as an add-on module that will feature automated reporting of your expenses, including budget tracking, profitability, benchmarks, and trends. This further enhances your ability to see a clear, end-to-end picture of your practice’s business performance conveniently in one cloud-based platform.

We have consulted industry experts such as Bentson Copple & Associates and others during our development to ensure we aligned with common practices that would bring value to both practice owners and their accounting partners. Your accounting software houses your financial transactions, and your accountant or bookkeeper are regularly managing, advising, and helping you leverage tax optimization. With Gaidge Overhead Expense Tracker, you can now easily retrieve and review your expense detail whenever desired. Gaidge’s security permissions allow you to control each user’s access, which means sensitive data remains secure, but it also means you have the ability to grant access to your accountant to share views and simplify communications.

Controlling overhead represents a wealth of opportunity for increasing net income.  Having a simple view and easy access to monitor what’s happening brings visibility on a regular basis rather than waiting for quarterly, biannual, or annual reviews. In addition, having the budgeting tool with the progress tracker allows you to keep tabs on spending, detect areas of concern, and have better chances of hitting your profitability goals throughout the year.

Once activated, the Overhead Expense Tracker will automatically pull practice accounting data directly from QuickBooks^® Online and upload the information into Gaidge with added charts, new metrics, trends, summary reports, and budgeting tools, making it easier than ever to review, plan, and control your overhead. It features three tabs that show your Overhead Summary in a standard table format with net collections for projected profitability, your Overhead Budget that includes your month-to-date and year-to-date spending in comparison to the budget you’ve set, as well as Overhead Reports displaying visual charts that show your expense categories broken down and calculated with related trends and Gaidge metrics.

The module is fully integrated and automated with QuickBooks^® Online, including pulling through retroactive adjustments. For offices using other accounting software, Gaidge also offers a file upload and manual entry option.

Contact us today for a free online demo via email at Info@gaidge.com, visit www.gaidge.com, or call (800) 287-3396.