Management Information and Key Performance Indicators (KPIs) is the means by which the information necessary to monitor your business on a regular basis is provided to directors and other key management. This information needs to be concise and relevant and to incisively report on the business’ progress towards achieving the key goals set in your business plan.
Every business has factors which are critical to its success, often termed as Critical Success Factors. Measuring these Critical Success Factors provide the most important performance information that enables a business to understand whether it is performing to expectations. These measures are termed Key Performance Indicators (KPIs) and are usually a mixture of financial and non-financial ratios.
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Identification of the Critical Success Factors of the business.
Establishment of Key Performance Indicators that best measures your success in achieving the Critical Success Factors.
Designing or refining appropriate management information reports.
You focus on those things that are important to achieving your businesses objectives.
Accurate information helps you manage more effectively and make more informed decisions that may be critical to your businesses future success.
The right information gets to the right people in your business at the right time.