Key Performance Indicators (KPI’s) provide actionable metrics that most organizations use to keep their strategy on track and enable them to manage, control and achieve desired business results. Historically, KPIs have often been tracked in spreadsheets and scorecards that were distributed on a monthly, quarterly or yearly basis. With the growing popularity of digital screens and digital signage it is now possible to publish real-time updates to KPIs as they happen and keep everyone in the organization informed about how things are tracking.
Is your organization ready for real-time KPIs?
Here are 3 reasons you should be considering displaying digital KPIs in your office.
1. Create healthy competition between your sales teams
Only the strong survive in today's competitive business ecosystem. In order to keep your sales team on top of their game, you need to cultivate a competitive data-driven culture where the right performance indicators and business metrics are shared in real-time with teams across the organization. The west coast team is going to up their game if they see the east coast team is beating them with sales when the walk into the office in the morning.
2. Provide employee communications in real-time
Integrating with back-end applications like CRM (Salesforce, Microsoft Dynamics, etc.) and ERP (SAP, Oracle, etc.), can show performance metric changes as they happen, enabling improved decision making and allowing staff to be more proactive which increases efficiency.
3. Improve morale, enthusiasm, & discipline
Engaging with your employees and getting them more involved at work can help boost confidence by building an understanding of how the company is performing, increase their trust with company transparency, and create a culture of team spirit. Motivated employees who are committed to their job and their employer are more likely to be high performing, loyal and happy in their work, and it is these employees who will be your company's best ambassadors.