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TKey performance indicators measure the quality of an organization’s performance and assist in developing performance goals and strategies. In many cases, key performance indicators are posed as questions that need to be answered, and the answers provide the indications of organizational performance and strategic development. While developing key performance indicators might seem like a challenging task, it is an essential one for a company that plans to succeed. What is more, developing key performance indicators takes time but is not necessarily difficult; it requires largely the ability to bridge the gap between goals and results.
Our accounting team focuses on generating KPI reports to help operations run your property effectively. A few optional reports listed below:
Reflect Strategic Value Drivers
Defined By Executives
Cascades Throught Organization
Based On Organizational Standards
Based On Valid Data
Easy to Comprehend
Must Be Relevant
Provide thresholds,targets and Benchmarks
Lead to Positive action
A critical success factor is not a KPI. CSFs are elements that are vital for a strategy to be successful. KPI’s are calculated measures that quantify the CSFs and enable the measurement of that strategic performance. KPIs are always calculations of Measures which are determined in the next step.
- The identification of KPIs is done in step 3, but the calculation of them is done in step 5. As will be seen in the next two steps, there are an endless number of Measures and Metrics to be considered. Not all Metrics inform us how our business or website is performing, but those that do are KPIs. All KPIs are Metrics, but not all Metrics are KPIs. This concept will be better understood once steps 4 and 5 are completed.
- KPI Example A. Percentage of visitors converting to leads compared to last month
- KPI Example B. Ratio of call center calls to online support compared to last month.
- Now that KPIs have been identified, we can look at the Measures that make up the chosen KPIs. Since Example A is the percentage of visitors converting to leads, we must first find those measures and do the appropriate calculation to obtain that ratio. For Example B, we will need to collect Measures from both the call center and online support data.
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A Good Accounting & Financial Service Provider, allows a Franchisee businesses to focus on core business capabilities, by allowing an outside partner to perform non-strategic business functions. Some of these functions include Financial reporting to Lenders,Tax Ready P&L and Balance Sheet ,Vendor Management , Bookkeeping, Payroll, Workers Comp claims processing and Video surveillance.
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Satisfied clients are our principal promoters. Honesty, reliability and the quality of our work has led our clients to believe in us. We have experience in serving following industries:
Outstanding Service! Ram and his experienced team have been a great resource for the company and have flawlessly provided timely and accurate financials that enables managment to have their fingers on the pulse of its operations which allows for sound decision making. We highly value Connivia services and their professional approach.
I am convinced that the Daily deposit report provided to me by Connivia is critical in tracking bank deposits accurately and results with improved profitability for the company.
Connivia help me to save around 4% of Labor cost by just introducing their innovative labor matrix hour tools and by using this tool I saved approximately $6000 per year per store, Thanks you Connivia!
I asked help from Connivia as I was totally lost and loosing money every month in my 3 Hotels, even though the Occupancy % were not much fluctuating. Ram taken this task and prepared a detailed Profit Leakage Analysis and this report really help me to control the Payroll, Breakfast Supplies and Utilities. Now I am back on track.
trusted by multi Unit QSR Owners and Operators
Satisfied clients are our principal promoters. Honesty, reliability and the quality of our work has led our clients to believe in us.