{"id":100065,"date":"2022-07-25t12:00:17","date_gmt":"2022-07-25t16:00:17","guid":{"rendered":"\/\/www.g005e.com\/?p=100065"},"modified":"2023-05-04t10:24:20","modified_gmt":"2023-05-04t14:24:20","slug":"which-kpis-do-you-need","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/07\/25\/which-kpis-do-you-need\/","title":{"rendered":"which kpis do you need?"},"content":{"rendered":"

\"mature<\/a>consider how the data will be used.<\/strong><\/p>\n

by ed mendlowitz<\/em>
\n77 ways to wow!<\/a><\/em><\/p>\n

key performance indicators (kpis) are shortcuts and tools to give managers a quick grasp of essential activities enabling greater control. whether a manager runs a business, not-for-profit, governmental unit, department or a small group, kpis can help the manager be more effective, achieve goals and better serve customers, stakeholders or others relying on the organization.<\/p>\n

more on advisory: <\/b>when an audit is a great thing<\/a>\u00a0|\u00a0how to read a financial statement<\/a>\u00a0|\u00a0the kpi an absentee manager needs<\/a>\u00a0|\u00a0which kpis do you need?<\/a> | the seven-minute financikal statement<\/a>
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managers need to develop the kpis that will help them the most. this development should be based on what they are doing now (with some tweaking) so they get four or five numbers daily that will not take more than three minutes to absorb, assess and activate changes, if necessary. transparency and sharing the kpis will also draw team members into the process.
\n
\nexamples: five kpis for most organizations<\/strong><\/p>\n

    \n
  1. daily reports of the previous day\u2019s total cash receipts<\/li>\n
  2. disbursements and balances<\/li>\n
  3. sales and accounts receivable<\/li>\n
  4. purchases<\/li>\n
  5. totals<\/li>\n<\/ol>\n

    illustrations: examples for specific operations<\/strong><\/p>\n

      \n
    1. hotels might want to know the occupancy percentage and average room rate.<\/li>\n
    2. restaurants should know the covers and table turnover per lunch and dinner.<\/li>\n
    3. manufacturers may want pounds shipped and order backlogs.<\/li>\n
    4. a service business may want chargeable hours and the percentage of chargeable hours to total hours.<\/li>\n
    5. hospitals may want bed count and average stays.<\/li>\n
    6. realtors may want total listings and closings.<\/li>\n
    7. office leases may need average rent per square foot and vacancy percentages.<\/li>\n
    8. internet sales should obtain orders received and shipped, acquisition cost per order or hit ratio from inquiries.<\/li>\n
    9. those who employ sales personnel may need payroll head count, sales per employee or sales per production employee.<\/li>\n
    10. sales operations may want store sales per day compared to year-to-date and last year.<\/li>\n<\/ol>\n

      other common kpis include:<\/p>\n