"You only manage what you measure"
Today, most CEOs agree: metrics-based management is the way to continuous improvement. But the challenge is mapping out the improvement you are seeking. How will we know when we have arrived?
Well the answer is: defining your unit of measurment, or Key Performance Indicator. These measurements could be an increase in unit volume, increase in percent gross margin, increase in qualities, and anything else your company wants to track. Just tracking them is a great start, and it becomes much more meaningful with: a Score, and a Benchmark.
Well the answer is: defining your unit of measurment, or Key Performance Indicator. These measurements could be an increase in unit volume, increase in percent gross margin, increase in qualities, and anything else your company wants to track. Just tracking them is a great start, and it becomes much more meaningful with: a Score, and a Benchmark.
Scores
Will an increase of 10% in sales proposals be hard to achieve? It all depends.
This is where Scoring becomes important. If I rate on a scale of 1-10 my KPIs I have a better idea about how much improvement there is, or isn't as my KPIs move. Scorecard Machine makes the Scoring collaborative: we have industry experts across all fields develop kits that are already scored for you. You can do it yourself, but it's hard enough for the experts.
Benchmark
Now that you have your Score, does it rank you favorably compared to other companies?
For example your weighted average score for Sales Process may be a unexciting 7/10, but this may be excellent for companies in your sector. The advantage of Scorecard Machine, is that we have historical data from many companies, so we can easily generate real-world benchmarks.
Will an increase of 10% in sales proposals be hard to achieve? It all depends.
This is where Scoring becomes important. If I rate on a scale of 1-10 my KPIs I have a better idea about how much improvement there is, or isn't as my KPIs move. Scorecard Machine makes the Scoring collaborative: we have industry experts across all fields develop kits that are already scored for you. You can do it yourself, but it's hard enough for the experts.
Benchmark
Now that you have your Score, does it rank you favorably compared to other companies?
For example your weighted average score for Sales Process may be a unexciting 7/10, but this may be excellent for companies in your sector. The advantage of Scorecard Machine, is that we have historical data from many companies, so we can easily generate real-world benchmarks.
