Not able to attend some of our events? Interested in finding out what you missed? Let us be your “go to” resource for program highlights.
On December 7, our New York chapter presented What! They Want KPIs Too?, a program focusing on how CFOs can best select, manage, and fully utilize these essential tools.
Our Expert Speakers Were:
Here’s What They Advised Us:
- The board of directors and investors should play a key role in KPI selection.
- KPIs should vary not only by industry and stage of company maturity, but also by department.
- It is a good idea to tie KPIs to compensation, such as quarterly or annual bonuses.
- It is important to include KPIs in regular business reviews so that results can be discussed and action can be taken when a metric is not tracking to its target.
- KPIs are critical to evaluating and managing performance over time and should not be changed regularly. Instead, they must be allowed several months to run before being revisited.
- To enable KPIs and metrics to be delivered via standard reports, dashboards, and scorecards, a variety of related tools were recommended, including CRM and ERP systems and cloud-based EPM platforms.
- If selected and managed correctly, KPIs can be powerful in ensuring that department initiatives are aligned to corporate goals, objectives, and strategies.
For further information, check out the following blog by John O’Rourke of HostAnalytics, one of our renowned sponsors:
Another Angle on KPIs in Enterprise Performance Management
For details about the NYC CFO Leadership Council, take a look at our chapter page or contact Debbie Lindner at [email protected]. And, don’t miss out on our next chapter event on February 15, A Seat At The Table? How To Be A Finance Led Organization