How Key Performance Indicators Improve The Organization'S Success?
What Are KPIs (Key Performance Indicators)
Key performance indicators are a set of parameters or quantifiable measurements to assess the overall performance of processes and understand their standing compared to the competitors or the set best practices.
Routine and regular checks are vital for the proper functioning and operation of a process, and with predefined key performance indicators, one can do so with ease and introspect about the scope of improvement.
Key performance indicators or KPIs help us introspect and understand the gaps and needs of a company.
What Are The Benefits Of Monitoring KPIs?
The multiple benefits of key performance indicators include the following:
- KPIs offer a comparison to scale the processes.
- KPIs can be easily personalized according to the needs of the organization.
- KPIs help the organization in understanding the requirements to achieve a specific goal.
- KPIs provide the teams with an objective and time frame
- KPIs help the organizations analyze the insights
- KPIs help the analysts to plan further and strategize the goals.
- KPIs help in judging the quality standards of the processes.
- KPIs strengthen employee morale
- KPIs aid in nurturing personal growth
- KPIs are critical for performance management
In ITSM and Service Desk Industry, key performance indicators (KPIs) are crucial in understanding the patterns and finding the right technology and software suited to improve the overall employee experience and organization growth.
What Are The Basic Key Performance Indicators in Service Desks?
- Ticketing Volume- The number of tickets and their resolution time is crucial performance indicators of the system's working efficiency.
- Productive Hours- How many hours is the employee productively engaged is directly linked to the process efficiency and helps improve employee productivity.
- Infrastructure Stability - The number of outages, hours of stability, and service disruptions indicate a system's efficiency. These facts also answer the question of whether the system needs an upgrade.
- Employee Satisfaction- The ratio of total employee queries to the number of resolved queries is an essential indicator of employee satisfaction.
- First Response Solution- The first response solution is a crucial key performance indicator in terms of information accessibility.
How Automation Helps in Improving The KPIs
The integration of automated procedures and artificial intelligence assists the service help desk analysts automate the whole process and deliver better results.
And there is an increase in the popularity of AI. The market will increase by a 32% compound annual growth rate and reach $237 billion by 2025.
- Artificial intelligence provides the service help desk analysts with powerful insights to deliver employee support.
- Automation helps the service help desk agents reduce the response time.
- Automation provides the employees with relevant and up-to-date information.
- Artificial intelligence (AI) makes automation possible through chatbots that are trained on models and patterns regularly to deliver faster and reliable information.
Therefore, it is safe to say KPIs play a critical role in the organization's development, and with leveraging the power of automation and artificial intelligence, any organization can automate most of the processes!