Your best performance control with PayXpert

Diego Katzman

Diego Katzman
Published 23/11/2020 · 3 min read

Financial technology to analyse your business' top KPIs

  • We provide you with the resources you need for efficient use of your financial data.
  • We help you sell more.

Performance control is something like the cotton test of finance. What is performance control? Basically, the process by which we assess the performance of our company, and whether it is meeting the proposed objectives. How do we carry out performance control? The simple answer is: through data analysis. The right data. And through the metrics that study their development or interaction with other factors. But simple metrics? Data and metrics are, without a doubt, indispensable. These numbers are perhaps the most tangible example of the reality of our company. But, although essential, they are not enough on their own. They only acquire value in contrast to our business objectives, to our strategy.  How can we integrate metrics into our strategy?

 

Metrics and performance indicators. Are they the same? Your objectives make a difference

Metrics and management indicators have come to be used interchangeably. They are similar (but not the same) things. Both aim to analyse the performance of certain aspects of business performance. While metrics remain there, KPIs interpret this data from a business strategy perspective.

Through KPIs (or performance or management indicators), we monitor the factors involved in our company’s performance and evaluate its evolution.  In other words, KPI's allow us to:

  • Obtain useful data for the correct evolution of a business.
  • Evaluate and control which factors have an influence.
  • Test the strategies implemented.
  • Make decisions in line with our objectives.

Tools such as KPIs are primarily aimed at helping us detect both our strengths and weaknesses. However, like any tool, there are good ones... And some others not so good.

 

How to define your KPIs? The most important features.

As we mentioned before, the most distinctive feature of KPIs is their strategic purpose. That is why knowing how to choose which elements are the focus of our analysis and their correct definition is essential for making an intelligent use of these tools. The features of the most suitable KPI indicators:

  • Concrete, specific, relevant. Make sure you can define and delimit the factor we want to take into account, and above all: make sure they're directly related to your business goals. This means not only choosing the ones that best suit your interests, but also the ones that best reflect the development stage of your company.  The goals you set for your company's evolution make all the difference. Choosing which factors you bring into the focus for analysis is yet another central element for good performance control. Contact us for personalised advice. 

  • Measurable. Let's not forget that KPIs are metrics. As such, we need data that reflect the different factors that make them up, which we obtain through the parameterization of these factors. What unit of measure do you use to quantify the volume of transactions? Do you know how to interpret this data?  Helping you quantify and interpret your KPIs is much easier with a financial technology consultant. With our specialised tools we provide you with the resources you need to become an expert in your finances. 

  • Regular over time. In order to interpret the data in perspective, it is necessary to control it over time. This is closely related to the previous point: the KPI metrics are made over time, and therefore it is essential to make regular measurements in order to understand the evolution of your business. In this way we can study its evolution and compare it with the expected or desired one. 

 

The most important financial KPIs for your business. Performance control with PayXpert

If you've come this far, you know what performance control and KPIs are. You know why they are so important for your business, whether it is an e-commerce or a physical commerce. But how do you implement a performance control plan to match? Do you know which KPI indicators are most suitable for the financial management of your business? What are the best tools for optimal management of your business finances? If you have all these questions (or more), you should consider partnering with an expert financial consultant.

 

PayXpert: the expert fintech consultant behind financial optimisation for companies like yours

We know that if you've never considered integrating financial technology into your business, it is very likely that you don't know all the advantages it has for you. You may never have heard of a fintech consultant. In this post we bring you some of our most popular tools with which our clients manage to save time and money in the financial management of their businesses.

  • Data Management. We help you group and interpret your financial big data. We provide you with an overview of your payment operations. Some of its most popular applications are risk control, or control of sales volume or transaction activity. 

  • Business Intelligence. Dashboards with all the necessary information to understand and manage your finances. Our dashboards allow you to track your transactions from all possible angles. In this way you will know the behaviour of your customers, from general transaction data to specific sales. Observing activity peaks and developing a tailored strategy has never been easier. 

  • Omnichannel Payments. To reach the maximum number of customers it is vital to offer the maximum number of payment channels. We offer you omnichannel payments with the best guarantee of quality and security for both you and your customers. Turn your business into a synonym of cutting-edge technology by offering the latest technology in payment acceptance. Increase your conversion and build customer loyalty with an outstanding user experience. 

We have years of experience integrating financial technology into small, medium and large companies. No matter the size of your business (or your goals): we know we can help you sell more. Do you want to learn more about this? Contact us for a custom query.

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