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Go Figure 2005 Limited is a CPA Practice
Go Figure 2005 Limited is a CPA Practice
Accounting & Tax | Advisory | Bookkeeping

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20 November 2018

Setting goals and measuring performance

Goals are what drive the long-term performance of your business.

Agreeing on clear targets, and measuring your progress over time via key performance indicators (KPIs), helps you to understand exactly where the business is going.

But how does this kind of performance management work in practice?

Track your performance with KPIs

Tracking your goals via KPIs show you where the company is hitting the mark and (importantly) where you need to do better – putting real drive and motivation behind your overall strategy.

To make performance management drive your profits and productivity:

  • Set targets and work to a long-term strategy – define your key goals for sales, profit, growth and cashflow etc. And ensure these target are closely aligned to your wider strategic business plan – so you’re tracking the metrics that matter.
  • Track performance with real-time information – integrate a KPI reporting app with your accounting software, and monitor the key financial and non-financial metrics. Use this dashboard to regularly track your KPIs – giving you a current view of performance.
  • Motivate your team to be more productive – explain your key targets to the wider team, and keep them engaged in meeting these goals. Motivation and engagement levels are higher when staff can see what they’re working towards.

Talk to us about setting up a KPI dashboard

If your are looking to track, monitor and boost your business performance, we can help. We’ll help you choose the right KPI reporting app, and get you in control of your key metrics.

Get in touch to start boosting your performance.

 

 

Posted in Tips    Tagged: Accountants New Zealand, Accountants Wellington, Accounting Software Cloud GoFi8ure, GoFi8ure Xero Training, Setting goals and measuring performance, Xero Training
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