Digitacc’s Key Performance Indicators (Digitacc KPIs) are the vital navigation instruments used by managers and leaders to understand whether they are on course to success or not. The right set of KPIs will shine light on performance and highlight areas that need attention. Without the right KPIs managers are flying blind, a bit like a pilot without instruments.The problem is that most companies collect and report a vast amount of everything that is easy to measure and as a consequence their managers end up drowning in data while thirsting for insights.Effective managers understand the key performance dimensions of their business by distilling them down into the critical KPIs. This is a bit like a doctor who takes measures such as heart rate, cholesterol levels, blood pressure and blood tests to check the health of their patients.Digitacc guides you to be clear about the objectives and strategic directions in order to identify the right KPIs for any business.
By monitoring the right KPIs and business metrics, you gain valuable insight into the performance of your business and, more importantly, gain the strategic awareness you need to make the right decision at the right time.
What is the first step to establishing structure and aligning the business? Unified metrics. This sounds obvious but take the following example. One company measured its service desk staff on customer hold time, and the service representatives consistently exceeded their performance goals and received 100% of their performance bonuses. So why was employee productivity and customer satisfaction consistently decreasing? In an effort to get the calls off hold, the service representatives were forwarding them to anyone available who could pick them up. This led to endless call forwarding, distracted employees, and dissatisfied callers. The example may sound trite in hindsight, but it wasn’t until management took a unified view of the impact on employee efficiency and customer satisfaction that the situation became obvious.
Establishing key performance indicators (KPIs) early and measuring them often are a key trait of best-lead businesses. By gaining visibility of their business and tracking metrics, leaders can drive accountability into the business (and extend it through their value chain). Once business processes are defined and unified, these KPIs can be built into automated tasks, reports, and real-time analytics. Metrics empower employee decision making at the point of action, reduce risk, and ensure better control and long-term business viability. Better yet, small decisions don’t get bottlenecked at the top.
Building a business based on an aligned set of metrics that span departments and extend into the value chain gives you a unified view of your customers, operations, and financials. And you have the ability to make more confident, fact-based decisions.
The following table outlines examples of how to look at Digitacc’s KPIs in the context of your business and how they help align objectives across various functions. Depending on where you need to gain the most efficiency – whether it’s in the supply chain or in sales and marketing – it’s important to align the goals and metrics into a unified operational system.Contact us for further info