Key Performance Indicators (KPI’s) are a useful tool in understanding the performance of your business and are important in Digital Transformation. Measuring your company’s progress through achievable goals shows where your business succeeds and where it can do better. If you rely only on financial figures, you may not know where you can do a better job or how you’ll be able to grow your operation.
With any kind of change within your organisation it’s a good idea to measure the changes so you can know whether it is truly a success. Especially if it is costing your business time or money. Digital Transformation will bring change to your organisation and you want that change to be a positive one! Evaluating KPI’s will provide evidence that what you are doing is working.
Also, due to the iterative nature of Digital Transformation KPI’s will enable to you to allocate resources to what works and pull the plug on what doesn’t – and do it quickly! Digital Transformation fosters the mindset of continuous improvement and KPI’s are an essential element in this.
However, KPI’s must be reviewed frequently to ensure their relevance and your ability to meet them. As your company progresses through its Digital Transformation, what and how you measure will evolve as well.
In our Digital Transformation Assessment, we review your business objectives and current digital assets. We gather the KPI’s that relate to your objectives and digital assets. If your company doesn’t have these in place, we work with you to create a basic set of KPI’s. We always ensure KPI’s be measurable and the measurement actionable.
KPI’s allow you to measure whether your digital transformation is a success.
Fairway Consulting provides Digital Transformation, vCIO and IT consultancy to help companies negotiate through the challenges and get the best value out of digital technologies and systems. We are passionate about helping our clients improve their bottom line using technology.
Interested in how your company could benefit?
Digital Business KPIs: Defining and Measuring Success (Hung LeHong Gartner, March 2016)
We have a managed service provider, why would we need more? A virtual CIO will give you the competitive advantage, here we explain how.read more
How aligning sales and marketing with CRM technology and automation can boost sales and reduce costs.read more
The European and UK wide data protection regulation comes into place 25th May 2018. Here is our presentation on 6 things you need to know and start thinking about.read more