Key Performance Indicators (KPIs) - Focus attention on the key metrics for success

Covalent KPIs provides an integrated, organisation-wide repository for performance information, replacing all those spreadsheets and Word documents scattered on individuals' PCs.

Reduces time wasted on 'managing the process' (gathering, inputting, manipulating information), resulting in more productive, action-oriented staff. Pre-defined report templates speed up the process of creating new reports.
Focus on the measures that need attention. Personalised views eliminate information overload by showing users just those KPIs that they are responsible for (or interested in). This means people don't have to wade through pages of data to find those few things that should be demanding all the attention.
Get staff involved with actually managing performance, not just monitoring. Reinforce ownership and lines of responsibility by assigning PIs to nominated users. Covalent constantly tracks performance against targets and e-mails alerts to KPI owners when things change that they need to know about or when a data update is due.

Notebook

Covalent organises the KPI information in a tabbed notebook that provides easy access to current status, historic data, trend charts and configuration settings. Visually intuitive and engaging displays (such as gauges, traffic lights, trend icons) bring data to life and help people understand information at a glance.

KPI Gauges

Review current performance relative to target with red/amber thresholds set as a percentage variance from target (or other variable such as forecasted outcome, benchmark quartile). Record comparator data from similar profile organisations and display benchmark groups in tables and charts.

Charting

Graph historic performance results over a definable number of time periods with line and bar charts. Chart forecast values and performance targets for future months to indicate likely outcome at year end. Pick out patterns over time, look forward at future performance against target, or benchmark against other similar profile organisations.

Data analysis

View results for each time period on data tab, with archived traffic-light status and trend arrows. Use other PI results in a mathematical formula to automatically calculate performance out-turn results using pre-set formulas.

Data updates

Enter values in the tabular updates page which displays just those PIs for which the user has data collection responsibility and which are due for update at this point in time. Alternatively extract data directly from core business systems, using Covalent's web services Integration module to automatically populate data in Covalent.

User engagement

Add explanations or request clarifications in the notes panel, to make performance results more meaningful with commentary. Automatically email update reminders and status change alerts (e.g. green to red) to the appropriate department or person. Create escalation routines to notify managers of slipped deadlines or off-target results.

We now do all our reporting of KPIs on Covalent so every manager knows what they've got to do. The Board now has all the detail they need in their Covalent performance reports, with a trend view that makes it very easy to pick out what's happening.

Covalent has dramatically improved the look of our PI reports.