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KPI - Kevin

The document outlines key performance indicators (KPIs) for evaluating performance in various areas such as accounts receivable management, financial transaction efficiency, and budget adherence. Each KPI includes specific targets, measures for tracking progress, and current status updates. Overall, the focus is on improving financial processes, ensuring compliance, and optimizing operations.

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kevingosia
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14 views2 pages

KPI - Kevin

The document outlines key performance indicators (KPIs) for evaluating performance in various areas such as accounts receivable management, financial transaction efficiency, and budget adherence. Each KPI includes specific targets, measures for tracking progress, and current status updates. Overall, the focus is on improving financial processes, ensuring compliance, and optimizing operations.

Uploaded by

kevingosia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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These KPIs align with the responsibilities outlined in the contract

and provide measurable targets for evaluating Your performance:


1. Accounts Receivable Management:
o KPI: Reduce outstanding accounts receivable aging by 70%
within the first six months. – The Business is cash based.
o Measure: Monitor and report on the reduction in overdue
receivables compared to the total outstanding receivables.
o Accounts receivable reduced to nil at year end (swimming
invoices were all paid)
2. Financial Transaction Efficiency:
o KPI: Ensure that 95% of payments to creditors and debtors are
processed accurately and on time.
o Measure: Track the percentage of payments made within the
specified deadlines and reconcile discrepancies promptly.
o 95% of payments have been processed accurately and on time.
Only two variances.
1. SGR - Global mark payment made to Love and Joy
2. SHELLY – Poolshop November invoice delayed
3. Budget Adherence:
o KPI: Maintain budget adherence within +/- 10% variance
quarterly.
o Measure: Compare actual expenses against budgeted amounts
and analyze variances to identify areas for improvement or cost-
saving opportunities.
o Budget adherence measures put in place with weekly monitoring
of purchases against sales not to exceed 30%-35%
o Actual expenses V budget analysis report done monthly
4. Inventory Management:
o KPI: Reduce inventory discrepancies by 10% through regular
audits and reconciliation.
o Measure: Conduct regular inventory audits and compare physical
stock counts with recorded inventory levels to identify and rectify
discrepancies.
o Monthly inventory audits carried out, experienced delays in
reconciliation in November and December.
5. Financial Reporting Accuracy:
o KPI: Achieve 50% accuracy in monthly financial reports and
statements. – 50% for the first months due to backlogs and
system knowledge
o Measure: Verify the accuracy of financial reports, including
profit/loss statements, balance sheets, and cash flow statements,
against actual financial data.
o Not yet actualized. Financial reports due this month.
6. Compliance and Risk Management:
o KPI: Ensure 100% compliance with tax filings and regulatory
requirements.
o Measure: Monitor the timely filing of VAT returns, corporate tax
filings, and other statutory deductions to ensure compliance with
legal obligations.
o 100% compliance in filing of monthly VAT, catering levy,
NHIF/SHIF, NSSF achieved
7. Process Improvement and Cost Savings:
o KPI: Identify and implement cost-saving measures resulting in
10% reduction in operational expenses annually.
o Measure: Evaluate current processes, identify inefficiencies, and
propose/implement solutions to optimize operations and reduce
costs.
8. ERP System Utilization:
o KPI: Maintain ERP system uptime of 99% and ensure data
integrity and security.
o Measure: Monitor system uptime, data accuracy, and security
protocols within the ERP system, and address any issues
promptly.
o Jipos ERP fully utilized for sales

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