How many times have you tried to measure your business process management goals but have found yourself severely frustrated, and staring at a screen that makes very little sense?
Finding out ways to improve your company’s processes in order to meet your business process management objectives can thwart anyone’s day – especially if you’re struggling to find data that will signal what is and isn’t working when it comes to hitting those targets.
This is where KPIs (key performance indicators) come in; set your KPIs as a measurable value to denote how effectively your company is at meeting your business goals, which in turn asses just how well your targets have been met. These metrics are a great way to effectively measure your business’ process management targets, as they give insight into conversion rates, customer habits and much more. This data can then be used to see where your business’ processes can be improved, helping to prevent business process management failure.
Setting KPIs is a crucial task for any business. However, it is important to remember that quantitative data that includes ROI and costs takes time to calculate, and shouldn’t be the sole value to measure your BPM goals.
Long Term KPIs and Your Business Objectives
Before arriving at your KPIs, you will need to decide on your broader business goals. These are likely to be: increasing revenue, reducing costs and improving customer experience. Long term KPIs will be related to these; they’re those metrics you can use to directly relate minor changes to business processes to your broader business objectives. The following long term KPIs can be used to measure business process management goals.
The amount of instances of each process: Analysing these metrics in conjunction with the month in which the process takes place enables a seasonal analysis. You will be able to look at multiple processes and documents, alongside the amount of processes or documents that have been computed in each step. This could show fundamental information, such as how many on location jobs an employee has been to, and what each repair entailed.
Average time needed to complete a process: Finding out the average time required to complete a process or activity is incredibly useful for measuring your BPM objectives, as it will indicate where you have failed to meet deadlines, and will help to meet service level agreements.
Average length of time required for each process step: In order to find out how to improve your BPM goals and achieve those targets, you’ll need to find the bottlenecks in your process and eliminate them.
Short-term KPIs and your BPM Goals
Short-term KPIs are often referred to as ‘real time indicators’ as they provide a short term analysis of your process steps (going as far as a minute to a day back). Short-term KPIs can be used to measure Business Process Management Goals via:
How many processes have been created in the last hour: This short-term KPI gives insight into how a specific system is being used, which will in turn help you predict and prepare for system overflows.
The length of time a specific step requires: Understanding just how long a part of your process takes means that you can streamline your BPM and create goals that are attainable.
To see the difference Oneserve field service management tools could make to your business process management goals, request a free demo here to see how you can work leaner and smarter.