19 minutes | Dec 17, 2020

What Accountants Need to Know Know About KPIs

Bernie Smith coaches businesses to develop meaningful KPIs and present their management information in the clearest possible way to support good decision making. Frustrated by the random way in which performance measures are often chosen and implemented, Bernie set up Made to Measure KPIs in 2007. He has since authored author of 19 KPI books to share simple, structured and repeatable ways to create KPIs that normal humans could design and use to improve businesses. Selected shownotes:How the book 'KPI Checklists' came about and why you should read itHow the right business and financial information is vital to drive improved performanceThe need for linking measures, targets and goals to strategic objectives using KPIs or key performance indicatorsA definition of KPIs that everyone can relate to which centres around measuring things that count and that you care aboutThe different types of KPIs, particularly leading (activity-based) and lagging (outcome-based) measurementsHow the ROKS method (Results Oriented KPI System) works with an illustration on how you choose a tool to do a DIY jobWhat makes some KPIs more useful and relevant than othersThe joys and drawbacks of visual dashboards, plus the ideal number of KPIs to have on themHow accountants are ideally places to capitalise on KPIs because of the amount and quality of data they can accessHow to measure and how often to measure the data that drive your KPIsThe common fears and challenges accountants have with embracing KPIs in their firms and client offeringsHow KPIs link to incentives, rewards and motivations in accounting firmsBest practice steps to start working with KPIs and how to drive a KPI oriented culture in an accounting firmHow accountants can effectively use KPIs to add value and advisory services to their clientsWhy fact-based decision making vz guesswork is at the heart of KPI thinking.Using the experience (and scars) of working with a huge variety of organisations over his consulting career, spanning banking (HSBC, Credit Suisse, UBS), aerospace (Airbus, AirTanker, Leonardo), and even cheesemaking, Bernie has boiled that experience down into simple, sensible and practical advice on performance measurement. When not working, Bernie is a keen hill walker, photographer and technology enthusiast. At any given point he has at least half a dozen over-ambitious and incomplete technology projects on the go. Contact him here:Website and blogLinkedIn 
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