KPI Development and Monitoring
Accounting systems turn data into information. For example, sales invoices and client payments (data) becomes a list of sales made in the month and trade debtors at the month end.
However, accounting systems can easily produce information overload. It is therefore important to decide what information is key to your business success and how often you need to see it. If you can correctly select these Key Performance Indicators (KPI's), and have targets against which to measure them, you have the beginnings of a management system that delivers the information you need to make informed business decisions.
At Synergee we are experienced in assisting our clients in identifying the KPI's that are most relevant to them. We can also help by structuring your accounting systems so that the correct data is captured to allow the KPI's to be produced without adding to workload.
Common financial KPI's may include:
- Gross profit percentage
- Net profit percentage
- Turnover per period
- Turnover for product/service line
- Performance per region
- Turnover per sales representative
Non finanicial KPI's may include:
- New opportunities to quote
- Sales conversions
- Foot fall
- Repeat customers
For more information on how we can help you design your system to provide the Key Performance Indicators that are important to your business contact us.