Per Aberdeen Group's David Hatch, businesses thrive or fail based on their ability to identify, define, track, and act upon Key Performance Indicators (KPIs). Executives and line-of-business management are increasingly feeling the pressure to enable timelier and more accurate decisions in order to improve operational efficiencies. The faster and more accurately KPIs can be accessed, reviewed, analyzed, and acted upon, the better an organization can manage day-to-day operations and customer interactions. Companies are focusing on obtaining solutions that address specific business pressures driving operational performance today.
In this Ariba Knowledge Nugget, we will talk about Key Performance Indicators (KPIs) and how they can be measured using information coming out of your Ariba module(s). Many things are measurable. That does not make them key to your organization's success. In selecting Key Performance Indicators, it is critical to limit them to those factors that are essential to you reaching your organizational goals. It is also important to keep the number of Key Performance Indicators small just to keep everyone's attention focused on achieving the same KPIs.
Don't forget, KPI's are perfect for loading into your Success Plan. If you don't have an Ariba Success Plan, let's get started today