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KPI Reports That Enables To Measure Business Success
What is Key Performance Indicator (KPI)?
A Key Performance Indicator is a measurable value that demonstrates how effectively a company achieves key business objectives. Organizations use KPIs at multiple levels to evaluate their success at reaching targets. High-level KPIs may focus on the business's overall performance, while low-level KPIs may focus on processes in departments such as sales, marketing, HR, support, and others.
Key Performance Indicator report is a helpful tool in analysing business performance. We at Whiz Consulting provide KPI reporting services for businesses in India. Our experts have helped many businesses understand diverse KPIs, which are critical for businesses, and assisted in improving those key areas. If you need KPI reports for your business based in India, then your search stops here.
Objectives of KPI Report:-
Check Company Health
Analyse Patterns Over Time
Solve the issues or Tackle Opportunities
Make Alterations & Stay on Track
Process of Establishing your KPI Metrics for your business
Define your business vision and goals
Break down these goals into Key Performance Questions
Select KPIs that answers these 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 and targeted results
KPI reports which are crucial in understanding your business performance:
Financial Performance Review Report:
Financial performance review report comprises of following financial metrics
Gross Profit Margin Percentage
Operating Profit Margin Percentage
Operating Expenses Ratios
Net Profit Margin Percentage
Financial Business Operational Efficiency:
This report comprises of following operational efficiency metrics-
Inventory Holding period
Debtors Collection Period
Vendors Payable Period
Cash Conversion Cycle
Working Capital Turnover
Sales Performance Review:
Sales Performance review report comprises of following sales metrics
Average Revenue Per Unit
Customer Acquisition cost
Customer Lifetime Value
Sales conversion review Report:
Sales conversion review report comprises of following sales metrics-
Lead Conversion Rate
Benefits of KPI Report:
Measures Estimated sales
KPI reports assist in providing the analysis on budgeted sales over the achieved sales during the specified period that eventually helps in analyzing all the deviation.
KPI helps to obtain how the ultimate consumer is satisfied with the product and provides the retention ratio of the consumer.
KPI checks on workers' satisfaction level, helping the organisation retain the worker for an extended period for the smooth working of the organization.
Savings in Overhead Costs
Small business benefits from KPI reports as it helps to reduce the cost by measuring the unnecessary expenditure over the necessary.
KPIs help identifies the strengths and weaknesses of a company, thus enabling the company to improve the overall operation quality.
Some of the industries where we are consulting on developing KPIs reports:
Whiz Consulting develops industry-specific KPIs for Indian businesses. We provide an in-depth understanding of their business operations and their comparison to the organisation's goals. This allows business to identify their business strengths and weaknesses and helping them to bring more synergies and efficiencies to business processes.
A KPI report is a tool used to analyze a business and its processes performance. KPI reports help businesses track progress against targets and goals. There are different types of KPI reports, and so each one is derived differently and has a different format. However, these formats are not set. You can customised KPI reports based on your specific requirement.
The content of one KPI from another will vary as each KPI is set to help analyze a specific process. However, every KPI report will have a final result that is comparable to the set target. Apart from this, every other individual element is specific to each KPI.
KPI reports are derived from the business's vision and goals, and hence it is an effective tool to analyse business performances. You can analyse your business performance in line with the business's vision and goals, helping to solve your specific business issues.