Category: KPIs & Metrics

The payroll function handles high transaction volumes for repeatable activities making it a great target improvements in accuracy, efficiency, and productivity. And as a cost center, these improvements can have a direct impact on an organization’s bottom line. Best in class Payroll metrics can highlight the areas in the payroll function that can benefit from automation, process improvements, and employee training. What is a Payroll Metric?    The payroll function is responsible for more than just issuing paychecks to employees. Payroll departments interacts with other business functions; keeps track of…

While external pressures such as economic conditions and the number of natural catastrophes can have a significant impact on the short-term profitability of insurance companies, insurers have plenty of opportunities to boost their long-term profitability by focusing on key performance indicators (KPIs). Measuring and then managing performance metrics inside an insurance KPI library can help insurers compete against peers, respond to market changes, attract customers, drive down loss ratios, and reduce costs. What is an Insurance Key Performance Indicator (KPI)? A insurance key performance indicator (KPI) can be defined as…

KPI reports have become pivotal to managing businesses of many different types. If not quite as old as old as business itself, (performance measurement can be traced back to the 1494 published work of Italian accountant Luca Pacioli), what is universally known as ‘the bottom line’ can be taken as being the original key performance indicator. Even if a business can absorb a series of negative financial performance results, over time, practically every business prospers or folds based on the bottom line. With systems for a variety of strategic and…

Banks today face an ever-changing landscape, challenges arise in multiple areas and a risk in one area can easily impact another. According to ABA Banking Journal the security and cyber risks remain at the top of the risk lists in most banks. No matter the size of the a financial institution there is always a cybersecurity risk to consider, banks must monitor technology upgrades to ensure that criminals can’t target vulnerabilities in the system. There are other risks to consider aside from the threat of ransomware and other cyber criminals.…

The IT project management team’s job is to ensure that all technology-related projects run according to plan, align with the company’s overall business strategy, reduce risk of failure, and finish on time. It should go without saying then, that measuring IT project management effectiveness through Key Performance Indicators (KPIs) is an important part of keeping your technology project management operations running smoothly. What are IT Project Management KPIs? IT Key Performance Indicators relating to project management can be defined as quantitative measurements, or metrics, used to determine how specific IT…