Blog Vault's Ultimate Guide: KPIs a CEO's dashboard must have

Vault's Ultimate Guide: KPIs a CEO's dashboard must have

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Running a technology agency is tough. If you want to be successful and grow, you need to constantly watch every part of your business from hiring superstars, managing and leading your people, creating a happy environment at work, planning your business a few months ahead and setting up goals. Managing profitable projects and having happy clients is also just as important. According to a study, one negative feedback and you can risk losing up to 22% of your customers. As a CEO, you need to have your own balanced score card to start building your own strategy execution and to measure performance.   

We’re sure you do most of these things, but why not make life a little easier for yourself? We’ll show you how Vault can help.   

Your balanced scorecard should be broken into four main categories: Resources, Projects, Finances, and Internal Processes. By setting up the right goals within each category you can constantly watch them, measure them, and improve your business accordingly. The main goals are to build a more engaged and stable team, have better services and products, improve internal processes, increase profits, and achieve revenue growth. Let’s get started.  

 

Resources and HR KPIs 

If you’re looking to optimize the recruitment processes and training costs, increase employee productivity and satisfaction, reduce the turnover rate, know the total cost of your workforce (TCOW), or be more competitive by knowing the salary competitiveness ratio (SCR), then Vault can help. You can find all this relevant data and more on your customizable dashboard by choosing the widgets that fit your needs. Read more about the most important HR KPIs to measure in one of our previous blogs.  

 

Project KPIs

To be able to deliver projects on budget and on time you need to have a clear vision of your project goals, measure them, and see how you’re progressing toward them. With Vault you can easily measure the main project management KPIs: Schedule, Budget, Quality and Effectiveness.  

Most project management tools do a poor job at exposing data. A lot of the time this is less about the actual tool and more about the usage of the tool. People are unaware of how to use the software effectively. Using Vault is an opportunity to reset your experience of project management KPIs. Vault does a great job at this because:  

  • It focuses on the relevant KPIs that each member of the team needs to see
  • Has creative rewards modules that allow you to focus on your team
  • Allows you to reward your employees based on clear performance metrics like: 
    • Project profitability (budget vs. actual)  
    • Project RAG status (early warning signs for late delivery as well as identification of risks)
    • Employee cost 
    • Project milestones 
    • Customer satisfaction 
    • Team motivation (rewards and idea development) 

Learn more about project management KPIs by reading one of our previous blogs.

 

Financial KPIs

These KPIs provide you with an overall view of the health of your business. It provides information about expenses, sales, profit, and cash flow in order to optimize and achieve financials objectives. Thanks to Vault you can gain valuable insight into your company’s financial accounts as you can view assets, liabilities, expenses, and revenue and see how your business is doing anytime anywhere.  

Read on: Vault's Ultimate Guide: 30 Financial KPIs and metrics

 

KPIs for internal processes

Good organizations are built on effectively working internal systems. If you want to improve them you need to first map processes, analyze them, redesign, acquire resources, implement, communicate the change, and review the processes. In the Kaizen approach, you’re encouraged to regularly make suggestions to improve productivity, effectiveness, quality, and safety whilst at the same time reducing waste. These small improvements can all contribute to significant process improvements over time.

Thanks to Vault you can bring order to travel management, contract management and asset managementChecklists can ensure you execute recurring tasks in a more effective way. You can create a specific checklist, add tasks, and assign them to other employees. By measuring the time spent on tasks and tracking their execution, you can easily boost your team’s performance.  

 Read on: Have you properly defined your KPIs to your best advantage?

 

Why track KPIs as a CEO?

Tracking and reporting KPIs are crucial if you want to stay in picture and be competitive. Vault is an enterprise resource planner that can be specifically tailored to your needs. It guarantees – or better say, we guarantee to help run your businesses smoothly and achieve higher productivity with lower costs. The biggest asset and value you get with Vault is our support and customization.   

Of course, you can customize almost everything on your own, but the advanced features may be too much. That’s where our team of skilled developers come in and help you out. If you’re interested in boosting your business, feel free to contact us and we’ll tell you more about Vault’s capabilities.  

Read on: Get your ERP tailored the way you want

 

ERP by Rare Crew is a powerful enterprise resource planner specifically tailored to your business needs. It guarantees to help businesses run smoothly and achieve higher productivity with lower costs. 

 

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