KPIs are an extremely efficient to help management better understand and follow their business. A well designed set of KPIs tell a powerful story about the performance of the company.
KPIs are typically ratios that are expressed in terms of:
1. Percentage (%)
2. Value or Amount (Rs, $)
3. A ratio expressed as a metric
At Realign we proud ourselves to be KPI experts as we assist our clients in putting the key indicators that can help then rapidly identify areas that are running smoothly as well as those they may require their attention.
Very often, companies blindly adopt industry-recognised KPIs which in many cases are not adapted to their goals and do not reflect their company. Tracking and managing the right KPIs allows for management to oversee business operations and understand the direction of the business. At Realign Consulting, we assist companies in determining which KPIs most clearly correlates with the company’s goals, with the objective of helping CEOs and directors make effective, data-driven decisions.
51.62% of professionals stated that the most challenging aspect regarding measurement of performance is selecting the right KPIs, followed by gathering data and documenting KPIs.
(Source: The KPI Institute)