Whiz Consulting is an eminent name in the accounting and bookkeeping industry. In the recent interview with the top management of Whiz Consulting, they revealed how they develop a KPI report to help their clients grow. "Key performance indicators allow firms to measure the progress towards strategic goals. Our team works towards identifying meaningful KPIs for every business," states the sources at Whiz Consulting. There are several sets of KPIs that focus on a particular aspect of the business. For example, customer-focused KPIs let firms know their efficiency in attracting, retaining, and growing their customer base. Similarly, process-focused KPIs monitor the operational performance of the organization. 

" We utilize the best analysis software and tools to prepare a comprehensive and detailed KPI report for our clients. Our staff ensures that the clients do not miss out on efficient and competitively advanced services.", said a senior executive at Whiz Consulting. KPIs vary for every industry. While the software industry prefers year-over-year revenue growth, a retail chain might value the same-store sales as its Key Performance Indicator. "We develop industry-specific KPI reports for an in-depth understanding of business operations. The industries that we specialize in KPI reporting include healthcare, retail, homecare, e-commerce, real estate, software, call centre, consulting, and media. Our services enable companies to work on their strengths and weaknesses alike," accountant at Whiz Consulting. 

Determining which KPI to use might be challenging but essential for the firm. It is best to use KPIs that serve the purpose of the company. Whiz Consulting uses both universally applicable and industry-specific KPIs for businesses. The senior accountants at Whiz Consulting state, "Our motto is to serve our customers to the best of our abilities and enhance operational efficiency. We prepare a non-financial KPI report to give an overall picture of financial health along with the financial KPIs."

The growth in the critical areas of a firm indicates the direction they are headed. It allows firms to make necessary changes and ensure that the company is en route to success. KPI report reflects the efficiency, quality, timeliness, and progress towards growth. A firm makes informed decisions based on the performance of critical areas measured over time. Whiz Consulting creates reports by following a seven-step process:

Defining the goals and visions of a firm

Breaking them into Key Performance Questions

Match KPIs with these questions

Set targets to evaluate the performance of a KPI

Choose the sources of data for KPI measurement

Prepare a report with actual and target performance

Identify the variances and reasons behind it

 Firms can use various metrics to understand a business's performance clearly. Whiz Consulting provides a financial performance review report wherein financial metrics including gross profit, net profit, operating profit, and expenses are used. Also, they provide a sales performance review report using sales growth, target, average revenue, customer acquisition cost, lifetime value, etc. The operational efficiency KPI report uses inventory holding period, debtors collection period, vendor's payable period, conversion cycle, and working capital turnover. Reviewing the sales conversion involves analyzing metrics like lead-to-opportunity, opportunity-to-win, and lead conversion ratio. 

"Our KPI services benefits go a long way for the clients. We ensure that our clients focus on saving unnecessary expenses and improving the overall efficiency. We help them identify their strengths and devise plans to enhance them. Similarly, by addressing their weaknesses, we allow them to modify their operations," said a senior executive at Whiz Consulting. 

About Whiz Consulting

Whiz Consulting has established its name among the renowned accounting and bookkeeping industries in the world. They offer customized services specifically designed to address the needs of that firm. Having a decade-long experience allows them to study the reports in a better way. Their services are cost-effective and give a competitive edge to their clients. The client testimonials display their focus on customer satisfaction.