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What is the Key Performance Indicator (KPI)?

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.

If you are searching for KPI reporting Services in Australia, then your search stops here. We at Whiz Consulting provide financial KPI Reporting Services for many businesses belonging to different industries. Our experts have helped these businesses understand various KPIs critical for their business and assisted them in improving those key areas.

Objectives of KPI Report:-

Monitor Company Health
Measure Progress
Analyse Patterns Over Time
Solve the Problems or Tackle Opportunities
Make Adjustments & Stay on Track

Process of Establishing your KPI report

  • Define company vision and goals
  • Break down company goals into Key Performance Questions
  • Select KPIs answering Key Performance Questions
  • For each KPI, set the target for evaluating each KPI performance
  • Select date sources for KPIs
  • Produce KPI report measuring actual performance Vs targeted goals
  • Identify the reason for variance between the actual performance and targeted goals

KPI reports which are crucial in understanding your business performance

Financial Performance Review Report:

Reportswhich shows the following financial metrics-
  • Gross Profit Margin Percentage
  • Operating Profit Margin Percentage
  • Operating Expenses Ratios
  • Net Profit Margin Percentage

Financial Business Operational Efficiency Report:

Reportswhich shows thefollowing operational efficiency metrics-
  • Inventory Holding period
  • Debtors Collection Period
  • Vendors Payable Period
  • Cash Conversion Cycle
  • Working Capital Turnover

Sales Performance Review Report:

Reportswhich shows thefollowing sales metrics-
  • Sales Growth
  • Sales Target
  • Average Revenue Per Unit
  • Customer Acquisition cost
  • Customer Lifetime Value

Sales conversion review Report:

Reports which shows the following sales metrics-
  • Lead-to-Opportunity Ratio
  • Opportunity-to-Win Ratio
  • Lead Conversion Rate

Benefits of KPI Report:

Measures Budgeted Sales

It helps you analyse budgeted sales over the achieved sales during a specified period that eventually helps analyse all the discrepancies.

Consumer Product Satisfaction

It helps to gain information on whether the ultimate consumer is satisfied with the product or not, which allows for a better retention ratio.

Human Resource Satisfaction

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.

Reduction of cost

It helps in small business accounting to reduce the cost by understanding which expenditure is essential to the business's working and which are not.

Improving Operational Quality

KPIs help companies to identify their respective strengths and weaknesses and how those traits line up with their objectives for enhancing overall efficiency.

Some of the industries where we are consulting on developing KPIs reports:

We at Whiz Consulting help in developing industry-specific KPI reporting services 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.

KPIs for a Retail Store
KPIs for Health Care Business
KPIs for Home Care Business
KPIs for an E-commerce Operator
KPIs for a Real estate Business
KPIs for a Software Company
KPIs for Call Centre Business
KPIs for Consulting Business

Frequently Asked Questions (FAQs)

KPIs are derived from company vision and goals. These goals are broken down into key performance questions, and then KPIs are set accordingly. There are various existing KPIs that might solve your specific business issue while also developing customised KPIs as per the business need. Doing so enable the KPIs to be effective.
A KPI report will vary from one another. As we explained earlier, there are a wide range of KPI reports. Each report will include a final result or indicator which can be compared with similar prior report, competitor or industry standards.
Every business is different from other businesses, and it will have various issues and objectives which they want to track. Apart from the standard KPI reports, you can also develop customised KPIs which caters to your specific requirements. Although for customised KPIs, it is suggested to hire a professional as we have experience developing customised KPI for various businesses of different industries.

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