A Key Performance Indicator (KPI) is a Metric that is primarily aligned to a 'Key' business objective. It tracks how effectively an organisation is performing against that objective, target or goal. Companies use KPIs to bring about performance improvements that drive growth.
It helps you in providing the analysis on budgeted sales over the achieved sales during a specified period that eventually helps in analysing all the discrepancies.
It helps to gain information onwhether the ultimate consumer is satisfied with the product or not, which helps inachieving better retention ratio.
It helps to monitor the satisfaction level of workers which helps to retain the worker for an extended period for the smooth working of the organisation.
It helps in small business accounting to reduce the cost by understanding which expenditure is essential to the working of the business and which are not.
KPIs provides you with facts and figures of your business performance which allows you to take quicker yet informed decisions for your business.
KPIs help companies to identify their respective strengths and weaknesses and how those traits line up with their objectives for enhance overall efficiency.
We at Whiz Consulting help in developing industry-specific KPIs for Australian Businesses. Every industry has its unique structure and different kinds of issues, we understand this and provide businesses in-depth understanding of their business operations and their comparison to the company goals. This leads them to identify their business strengths and weaknesses and helping them to bring more synergies and efficiencies to business processes.