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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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The system of key performance indicators  

The system of key performance indicators



 
 

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new CentriQS -15% OFF
Business management software
for small & midsize enterprises

Play Demo

VIP Task Manager
Task management software
for teams & small offices
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Each company has a unique target-oriented structure which divides the company into key functional areas. For example, for a production company the key functional areas are provision with raw materials, production, end products distribution, logistics. And for the company related to rendering services, the structure of key functional areas can look as follows: marketing activity, strategy development, promotion, sales, customer support.

Based on the company structure, the management accounts and budgeting are developed. They are interrelated as for a financial effect estimation it is necessary to compare actual indicators of activity with planned (budget). The system of key performance indicators allows the company management to see the-+ business as a whole without being absorbed in details. By the use of KPI, the company management can look through only one page of the report to find out development and condition of the company.

Sales Department

In general, the workflow of Sales department consists of several consecutive processes: customer relationship, receipt of orders, shipment and receipt of payment. Based on these processes the company management can figure out the following key performance indicators:

  • Customer debts
  • Shipment completed
  • Volume of earnings
  • Outturn

It would be reasonable to add this list with indicators connected with development (for example, considering quantity of the invoices billed to new clients). The motivation system should be added to those key indicators as well. In the majority of companies which have a client database, sellers do not search for new clients. Therefore it will be logical to pay them one award for constant clients, and to pay a higher award for attracting new client to encourage sellers. For this purpose it is necessary to add a corresponding line in the budget of sales and to track quantity of new invoices.

KPI used in production and service divisions

The most commonly used KPI in production are as follows:

  • Make quantity
  • Actual fulfillment of production plan
  • Machine utilization
  • Staff utilization

Production and service divisions maintain sales and marketing departments by providing service functions. Service divisions are obliged to work so that the client of the company has been satisfied by quality of the services rendered to the client. First of all service divisions should be estimated by means of quality indicators:

  • Timeliness of deliveries
  • Lack of down time
  • Plan fulfillment
  • Norm fulfillment
  • Customer satisfaction
The system of key performance indicators

Business solution for managing the system of KPI

The company management should regularly track ongoing business processes of the company. The mission of the company management is to retain business, maintain its growth and lead to prosperity . If it does not supervise business processes, it cannot complete the mission.

VIP Task Manager software provides the company management with efficient business solution which allows to track and analyze processes within the company. By using the application, the company management can monitor KPI's of any department or divisions and control each process. VIP Task Manager allows to build the system of KPI and take full control over the business processes of the company.

Read also a new article about process management - project management client-server software for Windows

     

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