For-Profit Performance Management Task

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A For-Profit Performance Management Task is a performance management task for a business organization.



References

2016

  • (Wikipedia, 2016) ⇒ https://en.wikipedia.org/wiki/business_performance_management#Metrics_and_key_performance_indicators Retrieved:2016-5-2.
    • Some of the areas from which bank management may gain knowledge by using business performance management include:
      • customer-related numbers:
        • new customers acquired
        • status of existing customers
        • attrition of customers (including breakup by reason for attrition)
      • turnover generated by segments of the customers - possibly using demographic filters
      • outstanding balances held by segments of customers and terms of payment - possibly using demographic filters
      • collection of bad debts within customer relationships
      • demographic analysis of individuals (potential customers) applying to become customers, and the levels of approval, rejections and pending numbers
      • delinquency analysis of customers behind on payments
      • profitability of customers by demographic segments and segmentation of customers by profitability
      • campaign management
      • real-time dashboard on key operational metrics
      • clickstream analysis on a website
      • key product portfolio trackers
      • marketing-channel analysis
      • sales-data analysis by product segments
      • callcenter metrics
    • Though the above list describes what a bank might monitor, it could refer to a telephone company or to a similar service-sector company.

      Items of generic importance include:

      1. consistent and correct KPI-related data providing insights into operational aspects of a company
      2. timely availability of KPI-related data
      3. KPIs designed to directly reflect the efficiency and effectiveness of a business
      4. information presented in a format which aids decision-making for management and decision-makers
      5. ability to discern patterns or trends from organized information
    • Business performance management integrates the company's processes with CRM or ERP. Companies should become better able to gauge customer satisfaction, control customer trends and influence shareholder value.