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KPI reporting is one of the most critical management tools every SME should implement so that a weekly snapshot of your business is readily available. KPI’s are not only for you as business owners but a valuable tool for your team and your advisors. Through the KPI analysis of your particular industry, Equiti Partners in conjunction with you can observe certain keys factors, including bench-marking against competitors. Key Performance Indicators are derived from the short and long term goals of your business.
Example of KPI’s:
- Sales to Budget
- Gross Profit Margin
- % Wage to Sales
- Net Profit
- Productivity Reports (professionals)
KPI ANALYSIS WILL ASSIST YOUR BUSINESS BY:
- Setting up tailored goals and associated timelines
- Helping you to identify the key areas you want to measure
- Ensuring accountability and implementation of those factors that you see being of most importance to the success of your business
- Showing you how your business compares to its competitors
If you’re measuring key performance indicators then you will concentrate on your key areas of business. KPI’s will help you work “on” your business rather than “in” it.
Equiti Partners’ experienced accountants will help you to understand which KPI’s you should measure. More doesn’t necessarily mean better and too many metrics can complicate the picture. Together we will make sure you have enough information to give you a clear overview of your business.