A CFO's Roadmap to Revenue Lifecycle Modernization
PART 3: KPIs FOR MEASURING SUCCESS
The final layer of the diagram is metrics, which are critical to business growth by:
Measuring progress
Evaluating performance
Setting goals that align with strategy
Identifying opportunities and challenges
Making data-driven decisions
Promoting accountability and transparency.
Each business will determine the metrics that are most important to them, based on what they are trying to achieve. In our experience, we have found a variety of metrics in three key areas to be helpful in guiding a company through increasing their maturity in the dimensions of monetization and achieving success in the digital economy.
Increased Revenue
Revenue metrics provide valuable insights into the financial health, customer behavior, and growth potential of the business.
Cost Reduction
Efficient cost management is integral to the success and growth of companies. These metrics offer insights into the effectiveness of those strategies.
Customer Satisfaction
Customer satisfaction metrics are strategic tools that drive business growth, enhance customer relationships, and ensure long-term success.