You have probably noticed that your business sales strategy has evolved over the years, often adapting to new targets and market conditions. Especially over the last few months, you have seen how your strategy has had to adapt to unstable and ever-changing market conditions, and you probably find it very difficult to know how well you are optimising your finances. In other words, you may find it difficult to tell if you are near or far from achieving your goals. KPI analysis is here to help you understand the financial reality of your business. Do you already know what they are?
KPIs, also known as performance indicators, are indexes that show the performance of a process and are normally expressed as a percentage. The analysis of these percentages (KPIs) is performed as part of a business activity monitoring process and uses business intelligence tools. Its purpose is to create a reflection of the current state of the business based on the analysis of targeted data to guide the company’s future actions.
But what data is reflected in the KPI's? Here we show you some of the most relevant data to keep track of your business:
Now that you know the most important indicators to analyse your company's financial performance, you can see if you are close to achieving your goals, and redirect your strategy.
To promote the achievement of the objectives set within your company's business strategy, it is also important that KPIs are in line with certain parameters, as set out in the well-known acronym SMART:
Let's get down to work. Now that you know how to define your business goals, and how KPI analysis can help you achieve them... how do you start optimising your business finances like an expert? One way to perform the best management control and advanced KPI analysis is to team up with a financial partner. With our business intelligence tool, you will be able to keep track of your finances’ most decisive values. Using the big data generated through your activity, we create graphs and maps that allow you to monitor the evolution of your business life and at a glance in an intuitive and highly usable dashboard. Contact us to request a demo.
PayXpert has been developing intelligent financial information management and payment technology solutions since 2009. Today we are recognised as one of the leaders in the European fintech sector. Why? Because we are financial experts who develop specialised technology to help both SMEs and large companies achieve their results and achieve their goals. Do you want to start getting results? Integrating fintech services into your business is an investment in the future of your business, a cost-effective way to offer the best to your team and your customers. Visit our website and get to know these and the rest of our services and tools, shall we talk?