Posted on August 13, 2019 by admin in News

Key performance indicators, often more commonly referred to as KPIs, are metrics by which a company can evaluate how successfully they are moving towards their stated business goals and ambitions. Obtaining and analysing KPI reports is key for businesses to assess which parts of their business strategy are working well, which ones need improvement and where to divert resources in order to better achieve those all-important goals.

Common attributes of KPIs

While individual KPIs will vary from business to business depending on their size, sector and unique circumstances, there are a few basic principles that all KPIs tend to follow. These include:

Common examples of KPIs

As mentioned above, KPIs will differ from one company to another, but to provide clarity and avoid confusion, here is a rundown of some common KPIs which crop up all in manner of industries and business sectors:

Using KPIs to your advantage

Of course, these are just some examples and there are many other KPIs which can provide insight into how to optimise your business. For that reason, it’s imperative that you tailor the KPIs you intend to use to your specific needs.

At Profile Chartered Accountants, we have over 16 years of experience and a proven track record in helping businesses identify the KPIs that work for them and analyse the results to provide invaluable advice on their future strategies. To learn more about how your company can benefit from our expertise and acumen, give us a call on 020 8432 2289 or send us an email at [email protected] and we’ll be happy to help in any way we can. We’re waiting to hear from you!