A key performance indicator (KPI) is a value that can be measured to demonstrate how well an organization is achieving important business objectives. The KPI is essential to evaluating success in achieving goals.
Key performance indicators help you keep your organization on track to achieve its goals.
When you automate workflows, measuring KPIs before and after automation helps you learn how automation affects things like process time, which in turn affects production and revenues. Popular KPIs include measures like:
- Percentage of processes run to completion
- Average process time to completion
- Error rate
- Web traffic rates
- Customer conversion rates
Whatever KPIs your organization chooses, they should align with your strategic organizational goals, they should be attainable, they should be calculated using dependable, accurate data, they should provide actionable insights, and they should evolve as your business does.
Collect Quick Workflow Insights Automatically
One of the simplest metrics most organizations use regularly is a measure of where, exactly, a workflow process stands at a given time. For example, an administrative worker may check on an automated process and discover that it is currently awaiting the approval of a department head, after which it will immediately be sent to Finance for action.
The type of workflow automation software you select can make an enormous difference in how easy it is to get quick workflow insights and transparency. In fact, transparency into workflow statuses is one of the most important features organizations look for in workflow solutions. Simply being able to determine how far along a process is without having to make phone calls or otherwise track people down can save significant amounts of time.
The Convenience of a Reporting Portal
Suppose your company uses a number of separate, but related workflows, and you need to make comprehensive reports based on data collected from some or all of those workflows. Choose workflow automation software that makes it easy to build a custom report portal so that you can easily create reports drawing from any data you collect.
Suppose the Finance department needs to collect cost data from processes in several departments. With a custom report portal, authorized persons could gain access to the data they need, regardless of department, and use it to quickly assemble a report on cost data that’s accurate and up-to-the-minute in terms of timeliness.
KPI-Based Reporting for Continual Improvement
One of the reasons for KPI-based reporting (and the need for workflow solutions in general) is the pursuit of continual improvement. KPI-based reports can help process users and process managers determine where slowdowns and bottlenecks occur in processes so that processes can be modified to fix them.
Organizations that enjoy the strongest competitive advantages are not the ones that automate processes and then leave them that way once and for all time. Since customers, markets, and technologies change, processes must change too, to eliminate inefficiencies and keep the competitive edge sharp at all times.
Often, when choosing Workflow Processes, business professionals focus the majority of their attention on workflow automation software that is best at automating processes. And while this is, of course, a primary reason for workflow solutions, it is reasonable to expect more than just automation. The workflow solutions that help businesses flourish for the long term are the ones that offer easy, powerful, built-in reporting capabilities.
When your workflow automation software makes it easy to customize KPIs, collect data, analyze, and report on it, you can be confident you have a solution with a great return on investment. PerfectApps is a leader among Workflow Software solutions because it is flexible, powerful, and easy to customize to your organization’s needs.
What’s more, PerfectApps offers outstanding reporting capabilities, whether you want quick insights into workflows and their status, or whether you need to create in-depth drill down reports that really maximize your data. Have a look at our demo video and see for yourself how PerfectApps answers the need for workflow automation software that works for you – not the other way around!