Nearly all companies use measurements to track performance against a target, it is a part of the very fabric that makes up a business.
Some simply choose to track high level information such as units sold this month or revenue.
At the other end of the spectrum some companies choose to weave KPIs into a more substantial business performance improvement culture;
all strictly aligned to their business and growth plans. Both approaches have their separate pros and cons;
however the main problem with using Key performance indicators (KPIs) is not monitoring too few or even monitoring too many, it's about using the right KPI's.
Just as important as understanding the right KPIs to measure is using the right tools to measure them.
KPI software provides businesses with a KPI focused platform to create manage and analyse KPI data. The software allows organisations to enter their KPI (Key Performance Indicator) data into one specially designed system rather than use conventional methods such as spread sheets - which by their very nature are prone to errors.
Companies then benefit from faster and more accurate data collation, instant reports on performance, and alerts when a KPI is over or under achieving – leading to uplift in competitive advantage.
KPI software also provides a window into companies' performance through simplified data visualisations such as graphs and dashboards. These tools allow you to keep a real time view of performance, and if in any doubt of the cause of variations in performance – drill down functionality easily finds the cause.
Having your KPI software accessible online via a cloud based version has four main advantages:
Instant Access, No credit card, No contract, No setup fees.No thanks