Monitoring monthly financial results are no longer an efficient way to monitor how your business is traveling.

In the ever changing and highly competitive business environment it is essential that you have your finger on the pulse on a daily and weekly basis. That way, trends or poor performance will be identified very quickly, and necessary corrective action can be taken immediately (rather than a month later when monthly financial results are produced)

BUSINESS PERFORMANCE MONITORING WITH KPIs

A Company’s financial performance can, and should be, monitored daily & weekly by identifying and setting up Key Performance Indicators (KPIs) to monitor key aspects of business performance.

Typically, in most companies, the KPIs to be monitored will be both financial (e.g., Invoiced sales, debtors’ collections etc) and non-financial (e.g., Number of calls to prospects, daily production of widgets, number of incoming phone or website enquiries etc. etc.)

The benefits of setting up and monitoring KPI’s

  • They play a key role in monitoring the financial and non-financial performance of your business (i.e., they keep your finger on the pulse of your business)
  • They help identify trends and challenges very quickly so corrective action can be almost immediate
  • They help define performance accountability (i.e., who is responsible for doing what?)
  • They define minimum performance requirements (necessary for profitability and achieving budgets, goals and objectives)
  • Failing to achieve KPI’s will be the earliest indicator of business challenges to come (way ahead of financial management variance reporting).
  • They provide a link between organisational goals and individual team member performance

To be effective, KPI monitoring must be

  • Relevant (to key business activities) and easily measurable
  • Timely i.e. monitored in relevant time periods (e.g., Hourly, Daily, Weekly or Monthly)
  • KPI’s should cover a wide range of critical business operations (e.g., marketing, production, sales enquiries, sales, debtors’ collections, client satisfaction, etc.)
  • clearly communicated & recorded to facilitate accountability (e.g., preferably included in team member Job Descriptions)

WHAT WE OFFER

Because every business is different and has different KPI’s we don’t offer a ‘one size fits all’ solution.

Even businesses that offer the same products & services in the same city/suburb are different.  That’s because every business has its own character, culture, unique challenges and areas that need improvement.

In addition, all business owners are different.  They have different goals, aspirations and work/life balance requirements.

And that is why we provide Outsourced CFO packages & solutions tailored specifically to your requirements and budget. 

We offer a complimentary, no strings attached, 30-minute Zoom consultation to discuss how we can set up a KPI monitoring system in your business to improve efficiency and profitability.

TAKE ACTION NOW to improve your business and decision making by implementing daily Business Performance Monitoring

by booking a Complimentary 30-minute Zoom Consultation via the ‘Please Book . . . ‘ button (below). During the ‘no strings attached’ Consultation with one of our Outsourced CFOs, we’ll discuss your business challenges, some possible solutions and explore how we may be able to assist you. 

OUR PROMISE:

During the 30-minute complimentary Zoom consultation, our CFO will provide you with, at least, 5 ‘Quick Win’ KPIs that you and your team can immediately work on to improve your business – whether you choose to work with us or not.

DON’T DELAY. Do it now

Please Book 30 min Complimentary Consultation
Call Us 1300 705 510

You have nothing to lose and everything to gain!

Time is of the essence, because in today’s business environment, if you’re not going forwards, you’re going backwards.