A KPI, Key Performance Indicator, is a Metric which is mainly aligned to a “Key Business Goal”. It tracks how efficiently & effectively an organization is performing against that objective and goal. Companies use KPIs to drive growth bringing about performance improvements and thereby achieving end objective, target or goal.
With KPI reports help, one can easily analyze budgeted sales over the achieved sales during the specified period, thus helping analyze all the discrepancies.
KPI helps to obtain how the ultimate consumer is satisfied with the product and provides the retention ratio of the consumer.
KPI provides checks on the satisfaction level of employees & workers, which helps to retain them for a longer period.
With the help of KPI reports, small business accounting can reduce the cost by helping understand unnecessary and necessary expenditure.
KPIs help companies to identify their respective strengths and weaknesses and how those traits line up with their objectives for overall efficientcy.
We at Whiz Consulting develop industry-specific KPIs for Businesses which gives an in-depth understanding of business operations and provides a comparison to the organization goals. This leads the organization in identifying their business strengths and weaknesses and helping them to bring more synergies and efficiencies to business processes.