As 2020 unfolds, business process agility has surged in importance. Organizations must be nimble, but how do you know where to direct your business resources? To guide that agility, a company gage or meter can play a pivotal role in an organization's decision making. As employees and customers disperse throughout the southwest, the "fog of war" makes it difficult to manage the day-to-day. There are many ways to navigate this tumultuous time, and one clear way to cut through the ambiguity 2020 has created is by having a solid set of Key Performance Indicators (KPIs) to rally around and focus on. Hopefully seeing what Kosh if focusing on helps you pinpoint your own KPIs for your business.
Kosh, being an IT service organization, has identified five KPIs to focus on.
CSAT - Customers
Customer satisfaction is a key ingredient to staying relevant. Customers have begun to expect more and better service. The companies with an easy-to-use feedback mechanism that puts the number front and center will begin to rise to the top of their industry. Collecting CSAT data is step one. Step two is rewarding employees who bring in top scores and coaching those employees that can improve. That's how focusing on the CSAT metric will make a tangible impact on our business.
Utilization - Efficiency & Relationships
Whether it's a machine, a tool, or an employee, it's important to see what they are accomplishing vs. what they can accomplish in a given time frame. It may seem cold to look at utilization, however, it's more important now than ever for a company to come together and get work done efficiently as a team. If someone is having a hard time due to school being out or taking care of a loved one, it's important to acknowledge that situation and help the employee get in a rhythm that helps them achieve what is possible while taking the time to take care of what they need to on a personal level. This helps with expectations from the employee and employer perspective and leads to a better and more transparent relationship.
Appointments - Communication
Whether in person with a mask or on Microsoft Teams, customer appointments with Kosh Technical Account Managers are critical. These meetings allow customers to communicate potentially complex issues or company plans in a timely manner to Kosh so we can stay relevant and help our customers grow during uncertain times. This also begins the communication cycle for staying ahead of any major decisions that must be made during this unprecedented time.
Response times - Timeliness
As companies continue to navigate 2020 a key factor is being able to reach your partners and vendors. Kosh has put in place phone metrics as well as response and progress metrics that are watched closely so that customers understand Kosh is here and able to help when needed.
Current ratio - Dependability
Financials are my strong suit and a key metric that I'm keeping a close eye on is the current ratio (current assets over current liabilities). This allows me to ensure that our "war chest" (cash) is big enough to weather the many potential storms on the horizon. Financial strength and longevity are key to any organization's long-term success. Having ample reserves allows our customers to have peace of mind that Kosh will be here now and in the future.
I hope that seeing the areas we focus on at Kosh helps you find or sharpen your metrics for your business. Here at Kosh, we appreciate all our customers and our employees working through this tough time.
I want to thank everyone for partnering with Kosh and working together to make this year happen.
CEO, Kosh Solutions