In the era of information abundance, the challenge lies in determining which data drives informed decision-making. The ability to effectively measure and track performance has become essential in achieving business objectives and maintaining a competitive edge.

Yet, if you are uncertain about what to measure, how can you truly gauge your progress?

This is where key performance indicators (KPIs) step in as invaluable tools.

Course overview

The Certified KPI Professional course of The KPI Institute equips professionals with the expertise to construct a sound KPI measurement framework, from selection to centralized reporting of results

This comprehensive training program draws upon 19 years of research in KPIs and real-world best practices.

Participants can explore the transformative capabilities of KPIs and empower their organization with data-driven decision-making. They will learn to customize a measurement framework that aligns with their unique needs and know exactly where they stand on the path to success by reaching the course’s learning objectives:

• Differentiate between objectives, KPIs and initiatives;
• Gain insights into KPI selection within different contexts;
• Apply best practice techniques for selecting KPIs;
• Document KPIs in a standardized template;
• Learn when and how to use benchmarking in target setting;
• Optimize the KPI activation and data-gathering process.

Benefits and importance

By becoming a member of the international Certified KPI Professionals Community, you access a wealth of benefits, including:

• Access to relevant performance data for informed decision-making;
• Pre-populated tools facilitating KPI Measurement Framework implementation (10+ templates);
• An innovative learning experience with a three-stage educational process;
• Expanded business network;
• 40 Continuing Professional Development (CPD) credits to include in the CPD records for your professional body, institute, regulator, or employer.

Course structure and methodology

The course encompasses a three-stage educational process with an expected duration of 40 hours:

1. Pre-course stage: This stage ensures a seamless transition into the training program. You will assess your current skills, engage with fellow participants through an interactive online forum, and lay the groundwork for a collaborative learning journey.
2. Core-course stage: Participants can choose between attending live online sessions or engaging in face-to-face interactions. They will engage in experiential learning and a high level of interactivity, complete their Individual Learning Maps, and undertake the certification exam.
3. After-course stage: Here, participants will engage in thought-provoking forum discussions and explore additional readings. They will be able to develop an actionable plan tailored to their organization’s needs.

The Certified KPI Professional course also provides participants with templates used in working with KPIs that will amplify their expertise in KPI management, including the Desired State of Evolution, Strategy Map, Performance Scorecard, and Performance Management System Architecture.

Course structure and methodology

The course encompasses a three-stage educational process with an expected duration of 40 hours:

1. Pre-course stage: This stage ensures a seamless transition into the training program. You will assess your current skills, engage with fellow participants through an interactive online forum, and lay the groundwork for a collaborative learning journey.
2. Core-course stage: Participants can choose between attending live online sessions or engaging in face-to-face interactions. They will engage in experiential learning and a high level of interactivity, complete their Individual Learning Maps, and undertake the certification exam.
3. After-course stage: Here, participants will engage in thought-provoking forum discussions and explore additional readings. They will be able to develop an actionable plan tailored to their organization’s needs.

The Certified KPI Professional course also provides participants with templates used in working with KPIs that will amplify their expertise in KPI management, including the Desired State of Evolution, Strategy Map, Performance Scorecard, and Performance Management System Architecture.

Course syllabus

The core course comprises 10 learning modules:

1. The world of KPIs
2. Understanding KPIs
3. KPI typology
4. KPI taxonomy
5. KPI selection
6. KPIs in context
7. KPI documentation
8. Working with targets
9. Data gathering
10. Data visualization

Flexible learning options

The course is offered frequently in several languages to accommodate everyone’s schedule and language preferences.

Certification and recognition

Upon completion, participants will receive the following certificates (soft copy):

• Certificate of Attendance: for course sessions participation;
• Certificate of Completion: after fulfilling pre-course activities and passing the Certification Exam;
• Certified Professional Diploma: upon successfully completing all three stages of the learning experience, as well as the full payment received by the contractor;
• CPD Certificate of Attendance: provided once you achieve Professional Status.

It’s time to maximize your organization’s potential through effective performance measurement. Become a certified KPI professional and enroll today!

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For any inquiries or further information, feel free to reach out:

Adrian Brudan

General Manager – TKI EMEA

Email: [email protected]

LinkedIn Profile: adrianbrudan

WhatsApp: 004 0721 233 084

 

Key performance indicator (KPI) selection is similar to laying the groundwork for a strong structure. KPIs are the building blocks of performance measurement, enabling informed decision-making for organizations.

In the same way that building foundations are tailored to the terrain, KPIs ensure companies stay on track toward their goals. It is possible to develop misguided strategies if KPIs are selected incorrectly. However, KPI selection is not easy. In fact, one of the top three issues in strategic planning is identifying the appropriate KPIs, as indicated by the State of Strategy Management Practice in 2022, an international research study by The KPI Institute (TKI).

According to Aurel Brudan, CEO of TKI, choosing the right KPIs is a multifaceted undertaking due to the interdependencies inherent in the process. He explains that the process requires, among other things, extensive research for internal and external documents, the participation of internal stakeholders, and the adaptability to shifting environments or business priorities.

On top of those challenges is the need to determine the quality and attributes of KPIs a company should select. Mihai Toma, TKI’s Managing Director of Consulting Services, recommends that organizations choose KPIs that are useful, reflecting quantitative expressions for achieving key goals. KPIs should also be specified properly, with no jargon or complex concepts. Furthermore, balance is critical, with two KPIs for each target preferably monitored to avoid potential imbalances and enable a full performance review.

Given these challenging requisites, how should organizations approach KPI selection? Similar to how engineers analyze the structural requirements and complexities of a building, organizations must meticulously evaluate their unique needs and objectives when selecting KPIs. The whitepaper titled “TOP 10 KEY PERFORMANCE INDICATORS 2023: Expert Tips for Choosing the Right Metrics” details the structured method designed by TKI for choosing KPIs and provides strategies for overcoming the most common obstacles in the process. Moreover, the report highlights the most popular KPIs in 2023 on smartKPIs.com, the largest repository of documented KPIs.

Download the free whitepaper now, and do not miss the upcoming “Top 10 KPIs – 2023 Extended Edition” for deeper industry insights. Follow the  TKI’s LinkedIn page to stay updated!

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.