Software from Intrafocus
My5 Key Performance Indicators at a glance
Track your key performance indicators with the My5 mobile app. Your key business metrics, at a glance, literally in your hands.
Add the app to your phone. It is free for 30 days. If you like it, then pay £35 per year.
Intrafocus has customers around the world
Are you looking for a way to get everyone in your business focused on the same thing? Do you want to ensure your business is aligned to your goals?
Take control of your business.
Any small to medium sized business can be managed day-to-day by focusing on 5 key performance indicators (KPIs).
Yes, it is a true statement. Your do not have the time to look at every measure, every day. Save that for your monthly or quarterly meetings.
On a day-today basis you should be focused on no more than five things. It os a simple case of the law of diminishing returns. Try to focus on more than five things in a day, and you will achieve very little or nothing.
My5 – In your hands today
Up to five dashboards, each containing up to five KPIs. Can be viewed in ‘grid’ or ‘list’ format. Giving you the information you need where and when you need it.
- Add your KPIs in minutes
- Save hours, every month
- See your results on the go
- Both mobile and web
- Dark or light theme
Get started right now. Add the app to your phone, it’s free for a month. If you like it pay only £xx a year
Focus on five
Don’t waste time
Day to day you cannot afford to waste time looking at lengthy reports. Spreadsheets are helpful, but often contain far too much information.
The image to the right is a typical KPI scorecard. Dozens of indicators to chart the progress of your company. Great for monthly meetings. Hopeless for day-to-day business.
Any sensible business will select five key performance indicators.
The five key performance indicators are usually made up of:
- Two financial measures, often Profit and Revenue
- One measure associated with customers
- One measure associated with a process
- One measure associated with employees
In our experience, if each area is covered, then the organisation will focus on the right things and the business will grow. If you are struggling with which KPIs to put in place, take a look at our KPI Library of the top 20 KPIs every manager should know.
Key Performance Indicators
Which Key Performance Indicators?
Setting your key performance indicators should not be difficult. You know your business, you know what you need to measure. Start with two financial measures if you are stuck, usually profit or revenue. Then take a look at something to do with your customers. Then think about how you actually do things and finally, set a KPI that measures how your staff performs. Here’s a starter for ten or visit our KPI Library:
Always a good choice, a healthy business is a profitable one. depending on your business, profit should be measured weekly or monthly. You really do not need to measure it daily.
Revenue is important when you are looking at business growth. If your business is stable and you are happy with its size, then concentrate on profit rather than revenue.
Deduct the direct costs of the product or service your sell from the revenue to determine Gross Profit. This will tell you how much you can afford to spend on things like marketing and sales.
Operating Expense Ratio
All of the costs not including the product or service costs divided by the revenue. This will give an efficiency percentage. The lower the percentage, the more profitable you will be.
Net Promoter Score
How likely would you recommend this company / product / service to a friend? This is the essence of the net promoter score. More frequently used than Customer Satisfaction, especially in retail.
An all-time classic KPI. But one that is usually only calculated or collected annually as it requires feedback surveys. The Net Promoter Score is used more frequently.
Number of Customers
Useful to know as a comparator to previous weeks / months, but is more useful when used in conjunction with other measures. For example to calculate Average Customer Profitability
Average Customer Profitability
Used to gauge your portfolio of customers. If this changes dramatically month-on-month, then you may need to consider balancing your product / service portfolio.
Customer Retention Rate
Retained customers provided an ongoing income. They are easier to sell new products or services to than trying to gain new customers. Retained Customers is also an indicator of customer satisfaction.
It is important to try and minimise the number of customer complaints. But this can also be a good source of information to make improvements. Be sure to always follow up on complaints.
On internal measure, usually expressed a a percentage that determines the level of quality of a product or service as determined by yourself. Clearly, it is important to be honest!
Order Fulfilment Cycle
How long does it take to deliver a product or service from order received to order delivered. A short Order Fulfilment Cycle is always desirable, be it for food in a restaurant or delivery of furniture.
First Contact Resolution
When a customer calls with a question or problem, their expectation is for it to be resolved during that call. This KPI is an indicator of how good your resolution process is. It is another ‘internal’ measure.
How well are your staff being used? How good is your machine plant at delivering widgets? Capacity is an efficiency KPI to determine the ability to deliver work or output in a given time-frame.
Usually determined by a survey, but in smaller companies by direct questions. This should be measured more frequently than one might imagine. Happy staff will stay with your company.
Not everything is about salary, but if a salary is a long way below the market rate, it will become a problem. There is no magic formula her, but salaries need to be seen as, at the very least, reasonable.
Replacing staff can be an expensive business. Especially when the required skills are high or extensive training is required. This KPI will force you to focus on staff retention.
Responsible companies should be looking to drive down energy costs. Not only will it save money, it is good for the environment. Often, customers are looking at environmental credentials
Trusted by companies across the world
“Our company has successfully survived the Coronavirus crisis which was a great challenge for all of us. Thanks to Spider Impact scorecards we were always in touch with reality, being able to monitor and control all key processes.
The Spider Impact solution has been an enormous help to ОБФ. In the past six years, we have created a centralised reporting and dashboard system that has greatly improved the way our consultants work. Working with Intrafocus has been a pleasure, they are very attentive to all our requirements.
Spider Impact has become an integral tool in our business and is being used at different levels, for example as a Tier 1 Balanced Scorecard at the EXCO level and Tier 2 Scorecards at an EXCO Member/Divisional level. The support provided by Intrafocus has been great.
Contact Us Today
Using the My5 KPI app will ensure you keep your most important KPIs close to hand on a day to day basis. But you still need to review all of your KPIs on a regular basis. Most businesses do this monthly, and most use presentations and spreadsheets. Why not talk to Intrafocus about a better way to run your business? Contact us using the form below.
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