Key performance indicators (KPI) are worked out by an organisation, to measure the primary parameters of progress and performance. There is a favorite management mantra – if you can’t measure it, you can’t manage it. This sums up the need to achieve organisational goals through KPI setting.
KPIs are not standardised; they differ from business to business and industry to industry and setting them is an intricate task. It is made all the more complex by the fact that often there are a number of subsections to one KPI for a specific business parameter. All of them must be simultaneously achieved. Hence setting KPIs is best done under guidance from reputed and qualified consultants with years of industry level experience.
JAG Team Professional Bookkeepers has a team of consultants who will help you in this very crucial task. We will first carry out an in-depth research of your business goals and objectives and what precisely is to be attained. These will include such key areas as product mix, sales targets, employee turnover, cost of sales and profit margins. After discussing with you what you realistically want to get, we’ll set KPIs based on it for a definite period.
We’ll even help you track results and make course corrections mid-way if required.
To know more, give us a call.