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The complete guide about KPI’s

Having defined KPIs is essential to the good performance of a company. KPIs are the key performance indicators that tell us what state the business is in and how far (or near) we are from meeting the stated goals. Based on the indicators and the company’s performance, managers can make more informed and informed decisions. BAM tools such as Multipeers allow you to track KPIs continuously and in real time. Analyzing performance on a constant basis ensures that more attention is paid to meeting the objectives, effectively increasing the degree of achievement. Continuous performance monitoring plays a key role in planning and monitoring as it provides information on processes developed by the organization. The effectiveness of any control strategy depends to a large extent on the correct suitability of developed performance metrics and KPIs. In this article, we’ll talk about everything you need to know about KPIs!

How to define KPIs?

Be specific

The more specific a goal is, the easier it is to find actions to achieve them in a short amount of time. Business goals should be simple, so it is much easier to manage them. An example of this goal is “updating the website quarterly”, which is easy to understand which means updating the website in January, April, July and October. A business goal that says “increase the number of proposals sent” is very vague and gives us no clue as to what we should do to reach it. Thus, it is preferable to use a goal that says “get 3 new customers per month”. It is a much simpler goal and it tells us the time interval. Business goals should be simple, so that the entire team is able to understand them. If you get too complicated, you risk not being able to extract any useful information from your analysis. And if the employees do not understand the indicator can be unmotivated, which harms the whole performance of the company.

Be realistic and objective

We all want to be the greatest entrepreneurs in the world, but there are obstacles that go with that and we have to have that awareness. When you set business goals too high, the risk of falling is much greater. And as the goals are harder to reach, you will be frustrated to realize that you cannot achieve them. You must set realistic goals that are appropriate to the reality of your business. If you do not have a great investment capacity at the moment, you will not be able to define as a business goal to increase the team by 10 employees. Business goals must be established according to the reality of the company at the moment, since only then will it be able to achieve them.

Set rigid deadlines

When there is no deadline for accomplishing a particular task or goal, it is more likely that it will drag on in time and eventually be forgotten. It is essential that you set a deadline to achieve a particular business goal, because only then will you be able to define a timeline and assign necessary actions over time. The stated deadline should be like the business objective: specific and realistic. It should not set too short or too long a deadline, as both cases may cause demotivation on the part of those responsible for achieving the objective.

Do a regular review of business goals

Business goals should be reviewed regularly and should be adapted as the changes are verified in the company. Long-term business goals should be monitored so that you can verify that all the actions required to comply are being carried out. Business goals are not static and it is not mandatory that they remain unchanged. Whenever necessary, you should change and update them, and in more extreme cases, you can even eliminate them if you find that they no longer fit the way the company works. A goal that yesterday was quite important, today may have lost some of its importance. Companies are living and dynamic organisms and as such changes must be monitored in all areas of the company. Evaluate at least every three months whether the indicators that have “assets” are the most appropriate given the period the company is going through. However, care must be taken not to make the mistake of changing or eliminating business goals just because it is difficult to achieve them.

What can KPIs do for a company?

Clear knowledge about business strategy

It is essential that each employee of the company or organization knows their KPIs and that they are updated with some frequency. “If we don’t know where we are going, any way is good”: the same goes for companies. If we are not aware of the results we should achieve with our work, we can do anything, and this may not be in line with the organization’s overall objectives. Defining the indicators of each employee and connecting to the monitoring system is essential for obtaining a global and integrated view of the state of the company and the performance of each one. It is also important to mention that each employee should have access only to the indicators that are important for the continuation of their work, so as to have a more focused and organized day-to-day.

Allow to evaluate the company quantitatively

KPIs allow measurable results to be achieved. And this is very important in a company, because the numbers do not lie! It is not enough to have a subjective knowledge about the results of the company. It is necessary to know objectively the true values ​​of the organization. Through the analysis of KPIs it is possible to redefine strategies and change what is not giving positive results. It is essential that KPIs are evaluated on a frequent basis, since only in this way can they have a significant impact on the life of the company.

Increase the performance of the sales department

When well defined and implemented, KPIs help drive sales. When there are defined goals and rewards associated with their implementation, the tendency is for employees to work even harder to achieve the stated goals. This creates healthy competition between the different vendors and in the end the company comes out to win with the increase in sales!

Make decision making more efficient

KPIs provide a lot of information about the company and in that way make decision making more efficient and easier. Managers often complain about the lack of information about the company in order to be able to decide consciously and these performance indicators gain a prominent role in making decisions about the future of the company. Managers can only make assertive and sound decisions if they have a full understanding of business reality. And nothing better than KPI’s to provide all that knowledge.

Improve achievement of objectives

Analyzing the performance of a company on a constant basis ensures that more attention is paid to meeting the objectives. An efficient process must be planned and controlled. Continuous performance monitoring plays a key role in planning and subsequent control because it provides information on processes developed by the organization. The effectiveness of any control strategy depends to a large extent on the correct suitability of developed performance metrics and KPIs.

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Data control: from management to accounting

Mastering a company’s data control is a key step to success. Today we live in the age of Big Data, where large amounts of information are processed at all times, helping companies to make more assertive decisions. What many people do not know is that data is different from information. The information only arises when the data are interpreted. Having a large volume of business data only means better performance if your company is able to convert that data into accurate and dynamic information. Thinking about this we will clarify the main doubts about the control of business data and how computerization is changing the world of business to best. Check out:

After all what is data control?

Data control is a set of actions that seek to optimize the reading of different information that affect the development of a company. When we talk about business data, we can address a number of industries, but the Big Data concept is Big.

According to Oracle Brazil website [1], Big Data is:

“[…] a holistic information management strategy that includes and integrates many types of data and data management together with traditional data.”

That is to say, large volumes of data are sorted and analyzed in order to represent concrete information about various sectors, such as customer behavior, market trends, investment possibilities and even pointing to operational failures in several sectors of a company.

Big Data is directly related to so-called “3 Vs”:

  • Volume: As the name says, everything in Big Data is GREAT. We are talking about a huge amount of data, which can be internal or external to the business environment. An example of internal data is the countless reports like buying, selling, profits and many other day to day data of a business. External data can be represented by customer behavior, demands, market changes and all actions that occur outside the company, but which directly affect its progress and profitability.
  • Speed: Big Data is characterized by the tremendous speed at which these new data are created. Every second million data is released in the digital world, which requires companies to quickly read this information. Companies that do not keep up with this speed end up lagging behind.
  • Variety: just as there is a large volume of data, rotating at an ever-increasing speed, there is also a wide variety of data, available in different sectors and channels.

These data are available in an unstructured way, that is, they are fragmented in several models and need to be sorted so that the information makes sense. Each digital medium has a different type of data, requiring a different type of reading. There is data, for example, in social networks, emails, messaging applications, websites or even in your accounting industry.

How does data control influence my business?

Every action of your company, simple as it may seem, represents a die waiting for interpretation. For a long time companies operated almost intuitively, relying only on basic and not always relevant information. This has always led to delays, undue expenses and problems in attracting new customers and creating new products. To solve this problem were created the ERPs, commercial automation software, integrated to several sectors of a company. An evolution of this process was the creation of the accounting integration, which provides the sending of the accounting data of the companies directly to their accountants.

What system should I adopt to perform good data control in my company?

If you want to improve the data control of your company, ManagementClick is one of the most efficient systems in the market. It acts as a powerful ERP and still has accounting integration, in this way the analysis of internal and accounting data of your company operate within a single environment.

Data control is performed efficiently and fully in the cloud, ensuring real-time monitoring and with complete security. The main advantage of the GestãoClick model is that it can count on several benefits in a single system. This represents savings, greater agility and integration.

Guestpost by GestãoClick

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Crisis Management: Preventive Measures to Save Your Business

All companies fear going through periods of crisis. However, they do not always worry about having crisis management plans, because their thinking is “only happens to others.” In fact, all businesses are predisposed to to going through more troubled financial times and it is essential that they have a crisis management plan to eliminate the problem as quickly as possible or to minimize its effects. In today’s article, we introduce preventative actions to save your business!

Analyze data and identify problems

The first step is to recognize that there is a problem that needs to be spoken. It is essential to assess its severity since only this we can determine the urgency of corrective actions. Managers need to constantly analyze available data in order to detect management failures, need to change strategy, diversion of production, and other problems that can lead to a crisis. Identifying mistakes made in the past allows us to avoid the same mistakes in the future.

Have a crisis manual

When a company goes through a period of crisis, it needs to make quick decisions. It is very important that you have a written communication plan that is nothing more than the crisis manual. This document informs about the vulnerabilities of the company, explains how to act and who is the responsible person to communicate in this period. The crisis manual should include releases so that communication in times of trouble is faster.

Do not ignore the situation

If you detect any sign that something is wrong, you must act immediately. Ignoring the situation will only complicate it, which will have more serious consequences in the future. It is necessary to make an early diagnosis and investigate the origin of the problem, because the faster the measures are implemented, the more likely the company has to exit the crisis without great consequences.

Eliminate Unnecessary Spending

It is fundamental that companies are always attentive to all expenses, but at the moment of crisis this attention must be redoubled. Identify the highest and most unnecessary expenditures, the least productive employees, general expenses, travel expenses, among others. Eliminating these expenses in a healthy time of the company will allow crisis situations to be delayed or even eliminated. However, you should also be careful not to eliminate spending that are necessary for the proper functioning of the company, as this can pose an even bigger problem.

Get real-time information

Bad decisions can destroy a business, so it is vital that managers have reliable and up-to-date information. Real-time business monitoring software like Multipeers is increasingly a necessity in business. Only with updated information managers are able to make assertive and effective decisions for the proper functioning of the company. Lack of information is often the biggest responsible for less good times in companies, so it is essential to choose a good business monitoring system.

 

Analyzing data in real time is increasingly a reality in companies around the world. Business happens at a very fast pace and it is essential that you know what is happening in your company to make the most appropriate decisions for your business. Download our e-book and learn how a BAM tool can help you manage!

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Best management techniques for small businesses

All small businesses want to one day be great, but you need to be aware that growing up in the business world is a process that takes time. It is necessary that small businesses adopt techniques appropriate to their size, so that they can grow in a sustainable way. In today’s article, we present the best management techniques for small businesses!

SWOT Analysis

SWOT analysis is imperative for small businesses. This analysis allows us to know our strengths, weaknesses, opportunities and threats, giving us a better knowledge of the market in which we operate and the competitors we are going to have to face. This analysis should be updated every six months, so that managers are always aware of market developments.

Balanced Scorecard

This technique measures the performance of the company, identifying the current position with the strategic objectives previously defined. Its application can be made from the definition of indicators, which analyze the results from 4 factors: team evolution, improvement of internal processes, customer satisfaction index and current financial situation. The manager should compare the actions with the results obtained, identifying potential deviations and designing a strategy to improve the results if necessary.

Use a real-time management system

It is important that you know the state of your business at all times, from the beginning of the creation of your company, because only in this way you will be able to evolve at a sustainable pace. Business monitoring software such as Multipeers can also be applied to small businesses, because the information generated is always vast and, in this way, the manager will gain important management habits for when the company is bigger. Analyzing the business in real time and monitoring the evolution of indicators is an essential step for the growth of a business.

PDCA Cycle

PDCA is initials to plan, do, check and act. It is a management technique linked to the improvement of a company’s processes. Its purpose is to solve problems, pointing out the causes for potential deviations and productive failures. This process makes the organization of the company more efficient in the long run and it is essential that it be applied from the moment of creation of a business, so that the improvement can be continuous.

Decision tree

This management technique is used to evaluate risks, costs and benefits of a project from a certain number of probabilities. To start the decision tree process, you need to go by putting the decisions that need to be made in the short term, the risks involved, what the cost associated with decision making is and what benefit you can get from it. The goal is to put all possibilities and evaluate which decision is most beneficial to the company!

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Top 5 Benefits of Using Data Analysis for Your Sales

More than having a quality product and a competent sales team, it is essential to gather information about your business and the market and analyze them. This measure offers a number of benefits and to find out what are the top 5 benefits of using data analysis for your sales, you’ll find the following topics in this article:

  • Market knowledge;
  • More efficient marketing;
  • Greater sales conversion;
  • Decision-making;
  • Mobility of data analysis.

Knowledge of the market

There are many benefits of using data analysis for your sales, one of the main ones being to help market knowledge. After all, if you don’t understand the segment in which you act are great the chances of making mistakes. On the other hand, by being aware of its operation it is possible to always be ahead of the competition.

In this way, you can offer your target audience solutions in products and services that meet their needs, as this is one of the most assertive strategies to attract potential consumers to your business. With the knowledge of the market you can still, therefore, dictate trends and follow innovations and benefit from them.

More efficient marketing

Just as data analysis allows you to understand your industry so that you can keep up with it and stay in the middle of the competition, the study of information also enables your business to invest in more efficient marketing actions. This is one more way to win over your target audience and sell more. With the analysis of data, you can still reduce investments with marketing, since it is possible to focus on the actions that offer the best results, without spending on what doesn’t give the expected return. In times of wide variety of marketing actions that can be done, nothing better than identifying the most advantageous for your business.

Higher sales conversion

When you know the market and the most efficient marketing campaigns are carried out, a natural consequence is the greater conversion of sales. After all, selling more is the goal of every business, as it means more profit and possibility to grow your business and make it more modern. Analyzing the data also helps the team identify who are the consumers of your product and thus adjust advertising campaigns and even the product or service itself to serve them more appropriately. In addition, it allows you to understand the buying behavior of consumers and thus present your merchandise at the right time.

Decision-making

While analyzing data for your sales control is essential, this task can cost a lot of time for your team when it’s done without the use of the right tools. Nowadays, even small businesses work with a large flow of information and analyzing all your business data can be quite costly. With this, your team will take a lot more time to get the answers you are looking for and when that happens it may already be too late. To do so, there are tools that help in analyzing data, showing the relevant information in real time and clearly, through graphs and other resources. In addition to agility these features promote the sharing of data with all involved, making the work more organized. All of this is of utmost importance for making decisions, because without up-to-date and complete information you run the risk of not making the best choices for your business.

Mobility of data analysis

The appropriate tools for analyzing the data should still offer remote access. This advantage is useful at different times, since you and your team are not always in the company. In addition, decision-making often occurs during outside sales and in meetings outside the company. But with a system that offers data analysis mobility that can be done anywhere and anytime, you can make the right decisions whenever you need them. To perform this task and other business management activities the ERP for small and medium enterprises ManagementClick is a complete resource.

This system automates all your business data, connects industries and automates processes. Thus, in addition to dynamism, you can count on the most complete data security of your company. For margin, these softwares allow you to manage from the customer registry to complete the financial control program of your company.

Article by: GestãoClick

 

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Find how to choose the best management system for your company

A management software is an important work tool and is a great ally of the productivity and competitiveness of any organization. Choosing the best software is not an easy task as it is not enough to go for the most popular choice on the market. It is essential that the software is the right for your business and it is not always easy to figure out which one will be the best choice. In today’s article, we leave you some important tips for choosing the best management system for your company.

Initial Evaluation

Before leaving for the market, it is advisable to do the homework. Determine the company’s software needs and take into account the opinions of many employees, especially those who will handle the software on a daily basis. Only after you are aware of what you really need you will be prepared to choose the best solution.

Prefer an easy implementation

Software that is very complicated to deploy and which takes a long time to install will not be intuitive and easy to use. Your main objective is to find a software that facilitates your daily work, so avoid the very complex software, because these require a lot of training time for the employees and this damages the collective income.

Be careful about safety

A management software will know everything about your business. The confidential information will be placed there, so it is mandatory to choose software that guarantees the protection and security of your information. If you choose Software as a Service (SaaS), you should carefully review the vendor’s backup policy and if you choose a product installed on a local server, you will need a team that will frequently monitor the security of the information.

Integration

It is fundamental that you choose a software that can be integrated with several applications because in this way you will get a global and integrated view of everything that goes on in the business. The software is transversal to the entire company, so it is fundamental that it can encompass all areas of the activity.

Choose a mobile version

The World is increasingly mobile and in companies this reality is no different. Everywhere, we can check emails and even attend meetings with people on the other side of the World. Before purchasing the software, check that there is a good mobile version.

It is essential to have a good software to ensure that your business will succeed. It is advisable to connect your software to a business monitoring system such as Multipeers, because in this way you will be able to analyze the business in real time and receive specific alerts whenever any situation requires your attention and intervention!

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5 Advantages of Mobility for Labor Productivity

See how mobility helps increase productivity

Business mobility is still viewed suspiciously by top managers. However, in recent years we have witnessed a change in the labor paradigm. The use of mobile devices in the professional world is changing the way how people and companies act. In this article we present 5 advantages of mobility for the labor productivity and we intend to demystify preconceived ideas about this issue.

Cost Reduction

Studies conducted by Gartner and supported by Microsoft found that, thanks to mobility, employees save about 25% of their time on the move to the workplace. In addition, having mobility means a significant reduction in the sales cycle for the commercial area, as it is possible to collect data immediately and avoid delays in signing contracts and protocols (due to the use of a digital signature). The savings can be even greater if the company opts for smaller facilities, because as employees are not always in the company space, there is no need for high areas.

Improvement of safety standards

Companies are often afraid that mobility will be synonymous with a greater likelihood of loss of network access credentials, which in most cases results in information leaks. Fortunately, technology is moving towards making systems and networks more secure and practically inviolable. Nowadays, it’s possible to control the access of those who are connected to the network, to define restrictions, among other things that contribute to the access to the company network by other devices is not seen as a problem. Knowing that employees are going to connect to the network from anywhere in the world means that companies will increase security rules, which translates into a huge advantage for the whole business.

Cloud Storage

Thanks to the widespread use of Cloud, any employee of a company can now access files and documents anywhere in the world. Mobility is made easier and more efficient thanks to this reality. The Cloud allows a collaborative work among all, without having to access to Intranets or methods that would make it difficult for employees to travel.

Communication improvement

Connecting devices to the enterprise database enables employees to access the information they need from anywhere and anytime. This makes communication more effective and optimizes the relationship with stakeholders. The response time will be shortened which is extremely positive.

Everything happens in real time

With access to company information from anywhere in the world, employees can give an instant response to their interlocutor, passing an image of professionalism and excellence. Products such as Multipeers allow the collaborator to know the status of the business at any moment through a smartphone or a tablet. Mobility requires the adoption of solutions like this, which bring innumerable advantages to organizations, and businesses enter in a spiral of positive events that will translate into an increase in profit.

The present is mobile and it’s expectable that companies will face challenges in this area in the future. Technology has evolved to eliminate or at least minimize the most damaging effects that mobility could have.