KPIs for SMEs
This course will enable you to:
- Establish the framework and the tools you need for managing performance in SMEs
- Understand the most important KPIs for customer performance and employee performance
- Develop a set of KPIs for your SME to measure the effectiveness and efficiency of the business
- Be confident about KPIs to measure SME financial performance
- Whittle down your KPIs to the ones that really matter
There are many performance measures available – literally hundreds. We call them key performance indicators (KPIs). But they can't all be "key" and they are not all equally useful, especially not to small and medium sized businesses. SMEs require KPIs that are easy to measure and easy to understand and that provide valuable information about how to effectively run the business.
Now enhanced with additional case studies and video interviews with the author, this course is about performance measures that work for micro, small and medium-sized enterprises (SMEs). The course provides a straightforward method of performance monitoring that allows problems to be identified and addressed.
- KPI measures in SMEs
- Why measure performance?
- The benefits of KPIs
- How variation impacts performance
- Displaying performance data
- The XmR chart
- Collecting robust and consistent data
- Plotting data in time order
- Calculate the natural process limits
- Analyse the behaviour of the process
- Performance improvements in SMEs
- Percentages and ratios
- Analysing performance data
- Dealing with variation
- Using the XmR chart to drive action
- Measuring progress
- The need for customer KPIs
- What do your customers want?
- Good KPIs for customer performance
- Measuring customer activity
- The perils of active customers
- Measuring sales within a time period
- Monitoring customer returns
- Measuring the percentage of sales from new products
- Measuring delivery and quotation performance
- Delivery performance
- The power of customer KPIs
- Measuring customer support and satisfaction
- Choosing customer KPIs
- KPIs for customers
- The need for employee KPIs
- Are your employees effective?
- Good KPIs for employee performance
- Employee turnover
- Skills matrix performance measures
- KPIs in the health sector
- Measuring employee involvement and satisfaction
- The power of employee KPIs
- Choosing employee KPIs
- For your employment
- The need for operational KPIs
- How efficient are your processes?
- Good KPIs for operational performance
- Monitoring processes
- KPIs in the manufacturing industry
- Inventory turnover
- Measuring the quality of products
- Measuring suppliers' delivery performance
- The power of operational KPIs
- Choosing operational KPIs
- Trusting the process
- The need for financial KPIs
- How do you measure financial health?
- Good KPIs for financial performance
- Measuring the contribution margin by value stream
- Measuring productivity
- The acid test ratio
- Measuring debtors and cash flow
- Interest cover
- The power of financial KPIs
- Choosing financial KPIs
Monitoring and managing performance
- Selecting the final list of KPIs
- How many KPIs should SMEs use?
- Principles for monitoring and managing performance
- Framework for managing performance
- Monitoring and managing with KPIs
- Methods for monitoring and analysing performance
- Where should we start?
- Implement your initial KPIs
- How important are KPIs?
- Putting it into practice
ACCA partner with accountingcpd.net to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.
Your accountingcpd.net course counts as verifiable CPD, if you can answer "yes" to these questions:
- Was the learning activity relevant to your career?
- Can you explain how you will apply the learning in the workplace?
You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.