Drive higher profits and growth by only measuring what really matters!
There are hundreds of ways you could be measuring your business success, but if you spent all your time doing that, you’d never get your “real work” done.
Why KPIs?
The traditional financial statements (Profit & Loss and Balance Sheet) tell you how well you went. KPIs are measured differently, and more often, and may not involve financial results at all. KPIs help business owners track their performance as they go, identify where systems are not working, and help prioritise activities and resources. KPIs should also contribute to your financial success. Track the right things and watch your business soar.
Decoding the KPI puzzle
Perhaps it’s how many unique visitors come to your website. Maybe it’s the number of new enquiries in a week. It could be the success rate of the proposals you send, or the volume of invoices raised. Maybe it’s the average number of days it takes debtors to pay you, or your stock turnover and obsolescence. It might be the number of people attending your seminars, or clients’ wait time on the phone …
KPIs are as unique as every business. From the vast array of all the things you could be measuring, a handful of indicators will stand out like flashing neon signs, showing you what’s really working and what isn’t, and lighting the way ahead.
Our Smart KPIs Service is ideal if:
- You don’t have a bookkeeper or internal accountant who monitors KPIs for you
- You have a bookkeeper monitoring KPIs, but you’re still not getting the results you want
- You wish your business was running more efficiently and making higher profits
- You’re not clear on which KPIs you should be tracking
- You don’t know how to track performance indicators or you don’t know what to do with the data you’re capturing
- Your goals include significant growth
- You want more profits
How the Smart KPI service works
You’ll complete a short questionnaire about what you’re currently doing and where you’d like to see improvements in your business. Then we’ll sit down with you and have a Strategic Planning Meeting.
There’s an art to working out which are the smartest KPIs to track. We’ll simplify the process so that you’re only tracking 8-10 of the most relevant KPIs — the factors that are most crucial to your success, with the biggest ‘bang for buck’ in your business.
For many business owners, this step is all they need. They know how to track and analyse data — once someone has helped them ‘triage’ what to track.
Want help with implementing this too?
We can also develop an implementation plan and suggest system changes, so the tracking is as seamless as possible and you have maximum staff buy-in to the process.
We’ll create tailored worksheets to capture the data you need, and even train staff on how to use them.
Or for an even more ‘hands off’ approach, we’ll do all the tracking and data analysis for you. We’ll track this directly from your financial statements and stay in touch with your staff.
The magic really happens when you nail one set of KPIs and your business steps up a level because of it. At this new level, a different set of KPIs becomes important.
Doing this consistently and cleverly is the single fastest way to transform your results and skyrocket success.
Benefits
As with all our services, Smart KPIs is:
- Backed by experienced and qualified accountants (CPA Members)
- Fully-insured advice
- Financial help beyond compliance
- Seamless – you stay with the same accountant if you choose this service
- Designed to improve your profitability
Please contact us on 02 6296 3733 or email us at admin@KDCAccounting.com.au for more information.