Having defined KPIs is essential to the good performance of a company. KPIs are 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 decisions. The IT area is one of the most important in any business, as it supports all the activity of the company. In today’s article, we cover 4 essential IT metrics in your business!
Performance of applications
This is one of the most important IT metrics, and for this purpose it is necessary to use constant monitoring tools that evaluate the performance of the applications in the end user’s perspective. Companies increasingly rely on the management of their IT assets to specialised companies that guarantee security, high performance and permanent availability.
Average offline time
This KPI is used to analyse the average time an IT device or infrastructure was not available. It is a metric known as MDT (mean down time). This metric tells us all the time that the service was not available, either because of minor problems, malfunctions, among others. This value is obtained by adding the time the system was not available dividing by the number of occurrences in that period.
Average service time
Another very important metric is the average time that professionals take to respond to requests placed in the service desk. The faster the service and the resolution of the situation, the better the IT performance.
This is one of the most important IT metrics. It tells us how long IT applications have been available to users, so the longer it is, the better the IT structure performs. It is essential that the company’s technological infrastructures are always available so that productivity rates remain constant.
BAM tools such as Multipeers allow you to track KPIs continuously and in real time. Analysing performance consistently ensures that more attention is paid to meeting the objectives, effectively increasing the degree of achievement of the objectives. 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.
A dashboard is a dashboard that visually displays the most important information about the business. In case of using a tool like Multipeers, the information is updated permanently and automatically, so that you have at your disposal the most current information on everything that happens in the company. By using a dashboard, you can easily see if your business goals are being met. Linking KPIs with day-to-day activities is essential if individual and global goals are achieved more simply. In today’s article, we leave you 5 dashboards that you cannot miss in your company!
An executive dashboard groups essential information for decision making. It is a panel that uses graphical features to simplify the general understanding of information. It is a very useful dashboard to analyze the KPIs and all the processes of a company. The standard executive dashboard is based on management methodologies such as the Balance Scorecard. The objective of this panel is to provide all executives with access to important data for the correct evaluation of new opportunities and improvement points.
This dashboard is used by the work teams and focuses on the processes that each team needs to perform its functions. The data contained in this dashboard are intended to identify critical points of the operation, helping to correct them. They also facilitate communication between all members of the same team.
This dashboard provides detailed information and is used to set trends against corporate goals. This panel allows you to see the results of internal actions as well as external public reactions to campaigns. A good example of this type of dashboard is Google Analytics.
Dashboard project management
This panel allows to follow all the management of the project, from planned activities, schedules, among other aspects. It is a very important tool because it decreases the probability of error and increases the effectiveness of communication.
Managers are not always able to identify deviations in work routines in a timely manner, which compromises business productivity. The dashboard will aggregate the history of the company’s operations and can set defaults to detect deviations and anomalies in real time. So the system is able to realize that something is not right and to alert you right away so that you can act before it becomes a serious problem!
We have already talked about the importance of indicators for business success, but it is never too much to remember that having defined KPIs is a fundamental part of a company’s management strategy. These business metrics allow for closer monitoring and better management of the level of success of the actions performed. There are thousands of possible indicators for each business and it is very important to know which indicators to choose to always follow the financial health of the business. In today’s article, we present the 7 most important indicators to assess the financial health of your business!
It’s one of the most important values for any company. We’ve reached this amount after adding up the entire billing volume and deducting costs and expenses.
Liquidity is the ability to turn an asset into cash. The faster the conversion, the more liquid an asset is. This indicator assesses the ability of the company to pay employees and suppliers.
EBITDA stands for Earnings Before Interest, Taxes Depreciation and Amortization and is a way of calculating how much a company generates of resources only with its operation, that is to say, before subtracting the value of the taxes. The formula for achieving EBITDA is Net Operating Income + Depreciation + Amortization. This is a very important value for companies looking for investors and serves as a comparative point with other companies in the same industry.
Cost per lead
This figure shows us how much it costs the company to acquire a lead. We get the value after dividing the amount of money invested in digital marketing by the number of leads generated. Studies report that the cost per lead generated through digital marketing is about 61% lower than the leads generated by traditional marketing. Knowing how much it costs us to generate a lead is essential so that we can redistribute the investments and improve the results.
ROI means return on investment and measures the end result of an investment: it relates all the expenses involved in a share to the profits made by that same share. The formula for calculating ROI is as follows: ROI = Net Profit (Total Investment Profit – Cost of Total Investment)/Cost of Investment. If the ROI is greater than zero, it means that the investment was positive for the company. If it has negative values, there was a loss.
Net Profit Margin
The profit margin represents what the company plans to profit from in return for what has been invested. In addition to calculating net income to obtain the net profit margin, companies must stipulate a value that is in accordance with what the market is willing to pay for their product. If the expectation of profits is well above normal there may be problems with future planning.
Market share means the participation of a company in the market in which it is located. This value can be found through billing measurement, quantity of customers, among others.
KPIs are of vital importance to companies because they measure process performance and by analyzing collected information work to improve future action.