Editor’s Note: This article is authored by Islam Salahuddin, a Business Research Analyst, and Len, the Chief Editor at The KPI Institute and originally published in the 25th printed edition of PERFORMANCE Magazine.

The KPI Institute achieved another year of record-breaking success in 2022, with 5,553 individuals participating in 336 course deliveries. This marks the seventh consecutive year of growth for the global research organization dedicated to setting standards in strategy and performance management-related professions. Compared to 2016, the number of participants in The KPI Institute’s Premium Certifications grew fivefold, up from 898.

With 19 years of experience providing performance solutions, The KPI Institute has successfully trained thousands of professionals in strategy and performance management-related disciplines with the support of its 40 partner organizations worldwide. The organization offers a variety of course delivery options, including virtual classrooms, face-to-face groups, and self-paced eLearning classes.

Live online courses remain the most popular delivery method, chosen by 3,664 participants. This trend has continued for the third year in a row since the launch of live online courses in 2020, far surpassing the number of participants who opted for in-person sessions, totaling 1,889. 

“We are thrilled to report another year of exceptional growth. This success can be attributed, in part, to the organization’s expansion of course offerings. With this, we remain committed to providing top-quality training and insights through our research programs and publications. In addition, I would like to thank our partner organizations that are contributing to fulfilling our vision,” Cristina Mihăiloaie, business unit manager of The KPI Institute’s Research Division, said.

The courses offered by The KPI Institute are designed to enable professionals and organizations to adapt and succeed in today’s business environment. Some of the certifications are Certified KPI Professional and Practitioner, Certified Strategy and Business Planning Professional, and Certified Performance Management Systems Audit Professional. 

Check our partner organizations here, or apply to become a partner organization of The KPI Institute.

Measuring financial performance in today’s dynamic and competitive business landscape goes far beyond traditional metrics. Aside from profitability and cash flow, the revenue growth rate is a vital indicator for companies striving for success. 

Monitoring revenue growth rates help the business make strategic decisions, attract investors, and maintain market competitiveness by comprehensively understanding their financial performance, whether it decreased or increased. It is also important to identify the factors influencing the revenue growth rate, such as choosing the right market, product and services pricing strategy, and customer retention rates.

Choosing the right market focus can help businesses narrow their target market and identify high-quality leads in their chosen segment, pursuing the most profitable customers. Moreover, narrowing market focus can effectively customize products or services to match the market segment’s unique demands and preferences. 

However, even the most profitable segments can lead to lower revenue rates because of the product and service prices as more business competitors enter the market. Hence, the right products and services pricing strategy is essential. According to research, “accurate and effective pricing” is vital for a company to become profitable. All products and services should have pricing plans based mainly on the knowledge of the demands and values of the target market. Based on the same study, value-based pricing is the best method to assess an item’s right price based on the value it generates for clients and their perceived worth. 

With reasonable products and service prices and the best quality value, satisfied customers are more likely to become repeat customers, refer the business to others, and drive long-term revenue growth. A study conducted on businesses in Kurdistan suggests that pricing strategies have a strong and significant impact on customer retention. Based on the study’s results, customers prioritize product pricing over product quality. It was also discovered that implementing an aggressive pricing strategy is more effective in customer retention.

A thorough comprehension of these elements equips organizations to adjust to shifting market conditions, streamline processes, and promote long-term revenue development. But what are the ways in which businesses can monitor their revenue growth rate? There are a few of them such as analyzing revenue trends by regularly reviewing financial statements like income statements, balance sheets and cash flow statements, tracking sales quantity and value over time by monitoring sales reports, and using key performance indicators (KPIs) related to revenue.

The KPI Institute’s infographic titled “KPI of the month: % Revenue growth rate” is an easy guide for businesses to determine whether their revenue has grown or dropped over time and measure the level of its change. Specifically, the % Revenue growth rate calculates the revenue variance percentage over a designated time frame. This can be calculated on a quarterly or annual basis. 

To get a picture of the overall revenue performance, it is essential to monitor the % Revenue growth rate alongside other KPIs, such as $ Net income and $ Financial expenses. Moreover, organizations should take competitive aims and industry standards into account when defining targets as part of the annual budgeting process to make sure their goals are realistic and achievable.

Download the free infographic on the slot thailand TKI Marketplace today and unlock the power of KPI in monitoring your business revenue growth rate.

 

Every successful organization has talented individuals whose dedication, passion, and expertise drive innovation, conquer challenges, and turn visions into reality.

The KPI Institute (TKI) People Awards series features the employees and teams recognized by TKI for going above and beyond expectations, excelling as team players, and creating a tremendous impact on the company.

Today, we will uncover the outstanding journeys and accomplishments of the employees of the month for January 2023. Get ready to be inspired and motivated by their stories in an interview with the TKI Publishing Team. 

 

 

Haifa Audrey

Junior Instructional Designer

ILMS

 

TKI: What does receiving the Employee of the Month award mean to you?

Haifa: Receiving the Employee of the Month award is a humbling experience. This award has made me reflect on my work and my contributions to the team. It has also given me motivation to keep improving my skills.

I am grateful for the support and guidance of my colleagues, who have helped me grow professionally. Their willingness to collaborate and share their knowledge has allowed me to contribute more effectively to the team’s success.

Overall, this award is a reminder of the importance of hard work, dedication and collaboration. I will continue to work hard and strive for excellence, and I am grateful for the opportunity to work with such a talented and supportive team.

TKI: What’s your favorite accomplishment so far at TKI?

Haifa: My favorite accomplishment at TKI is sharing knowledge as an onboarding buddy for new instructional designers (IDs). Sharing my knowledge about the team’s work and processes with new colleagues not only helped them to settle in quickly but also gave me a fresh perspective on our work.

Through this experience, I gained new insights that have improved my work, and I was inspired to seek further opportunities for collaboration and knowledge-sharing. I believe that this chain of knowledge sharing is critical to our team’s success, and I am proud to have played a part in it.

TKI: When you’re faced with a challenge at work, how do you find a solution?

Haifa: When faced with a challenge at work, I first approach the problem with a positive mindset. Being optimistic and open-minded helps me see things from different perspectives and develop better solutions. I also believe staying calm and focused is important, so I take a step back to analyze the situation before jumping into any solutions.

Once I have gathered all the relevant information, I turn to my colleagues for input. I find that by seeking solutions collaboratively, we can come up with more effective solutions than we could on our own. It is also a great opportunity to learn from one another’s experiences and perspectives, which can help us navigate similar challenges in the future.

TKI: What would be the three main career lessons that you have learned thus far?

Haifa: Throughout my career, I have learned three key lessons that have been instrumental in my personal and professional growth. Firstly, I have come to understand that effective communication is paramount not only in what I communicate but also in how I do it. I have learned to listen to others, empathize with their perspectives, and respond appropriately to communicate effectively.

Secondly, maintaining a positive mindset has proven to be powerful. It helps me approach challenges with a clear head, find solutions, and contribute to a positive work environment. I try to proactively build an environment that fosters positivity and inclusivity.

Lastly, I have learned that collaboration is crucial to achieving our goals as a team. We can leverage each other’s strengths and expertise to reach our objectives by working together. Owning up to our mistakes, taking responsibility, and learning from them have helped me grow and improve my collaboration with others.

 

 

Linh Do

Head of Professional Services- Vietnam 

Systeams

 

TKI: What does receiving the Employee of the Month award mean to you?

Linh: It motivates me to maintain a positive attitude toward my work

TKI: What’s your favorite accomplishment so far at TKI?

Linh: We conducted our first Certified Performance Management course in Vietnamese in March 2023, and the participants gave positive feedback, demonstrating our team’s capability to expand in this market. Our premium products are priced higher than the local offerings, but we believe that the quality of our products speaks for itself.

TKI: When you’re faced with a challenge at work, how do you find a solution?

Linh: In many cases, I seek advice from my senior colleagues to arrive at a solution. However, there are instances where I conduct research and benchmarks on my own particularly when my colleagues have not encountered similar problems yet..

TKI: What would be the three main career lessons that you have learned thus far?

Linh: First, creating a work environment that recognizes the significance of continuous learning is crucial, as it is the most critical aspect of any profession.

Second, successful teamwork and the achievement of team objectives rely heavily on the buy-in and involvement of colleagues.

Lastly, the key to success is not managing time but managing one’s mind. Therefore, it is important to cultivate an interest in and passion for the work one does every day.

 

 

Widasari Wida

Admin Assistant 

LMSL

 

TKI: What does receiving the Employee of the Month award mean to you?

Widasari: So many things happened that made me question whether I was doing well or doing things right, and this award dispels any doubts I had. Now, I am proud of everything I have accomplished so far.

TKI: What’s your favorite accomplishment so far at TKI?

Widasari: Being entrusted with managing a handover course production process between ILMS and LMSL. As the project is ongoing, I hope everything goes well.

TKI: When you’re faced with a challenge at work, how do you find a solution?

Widasari: I believe that communication is key for any matter to happen, so I consult problems I have with my team. I am grateful to have such a supportive team with an awesome direct manager that I am able to give and receive much support.

TKI: What would be the three main career lessons that you have learned thus far?

Widasari: In project management, being proactive is highly important since we are expected to seek action and solve problems quickly. You must also be brave enough to stand up for yourself when in a difficult position. Lastly, spare time to check regularly on your teammates to see if they need help.

 

 

Temiloluwa Makinwa

Product Manager

Lerero

 

TKI: What does receiving the Employee of the Month award mean to you?

Temiloluwa: It is intriguing and encourages me to do more in my job function.

TKI: What’s your favorite accomplishment so far at TKI?

Temiloluwa: My favorite accomplishment at TKI is the soon-to-be-launched Learning Management System (Lerero LMS). I am excited to launch the product.

TKI: When you’re faced with a challenge at work, how do you find a solution?

Temiloluwa: When I am faced with a challenge at work, I collaborate with team members, try to research possible solutions, and put in a can-do attitude.

TKI: What would be the three main career lessons that you have learned thus far?

Temiloluwa: I have learned three main career lessons: (1) asking the right questions, (2) building relationships with key contributors, and (3) designing and testing solutions with others.

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Be part of TKI’s growing team! Check out the following professionals that may fit your interest and expertise:

• Head of Marketing
• Marketing Managers
• Web Developers
• Research Analyst
• Podcast Host
• Sales Manager
• Admin Assistant

Should you be interested, submit your CV to [email protected]