IT KPI Examples
Streamline your tech company, software development team or IT department with these KPIs
Reach Your Goals with Measurable Data
Knowing if your IT department or tech company is working at peak performance is essential as it may help increase your productivity. Implementing metrics is usually one of the best ways to handle this important task and our IT KPI examples can help you do just that. Employees can use an IT scorecard to evaluate activity-based events related to operations, marketing, sales, and finance in real-time.
Attaching goals and streamlining your processes should be an ongoing activity. Having KPIs gives everyone on a team a clear idea of what they should achieve and how.
Tracking progress allows everyone to share what they are doing and allows for greater transparency and accountability. Innovations and updates are frequently emerging in tech and there’s a lot to keep track of and share in a team.
Implementing Our IT or Software Development KPI Examples
Understanding and utilizing the IT KPI examples below may be the starting point for building internal processes that work for everyone in your software development team, IT department or tech company. You can download and customize our scorecards. You can also use the downloads as ideas for KPIs you’re currently not using.
Implementing KPIs into your company should help make it more efficient to measure performance and stay agile. Using several different KPI’s should provide your business with a way to make prudent decisions for each department.
Streamline Operations
Measuring the solutions provided by an IT department should help show their effectiveness and help you discover metrics that can be improved.
- Server Downtime: Measuring server downtime is one of the top IT KPI examples if your company is offering a service where staying online is essential. Using this metric can help you understand when it may be the best time to reboot, update, or maintain your hardware’s infrastructure. An overabundance of downtime could affect your reputation and the reviews of your services.
- The number of Critical Bugs: Keeping this metric low has many advantages as it’s another one of the IT KPI examples that can negatively affect your brand. Over time, you can determine if your company is having an increase in critical bugs, requiring you to dig deeper into any underlying causes.
- Average Time to Repair: Having an unexpected event can turn off customers if it lasts for an extended period. Getting repairs done quickly to help ensure your system is up and running as fast as possible will alleviate having too many disgruntled customers. Evaluating this area may make you realize you need to assign more of your IT technicians to handle repairs.
- IT Devices Not Up to Date: Setting up KPIs for IT department security is usually vital if you want to do everything you can to ensure that hackers don’t access your system. Staying one step ahead of them by measuring your security procedures should help provide the updates you need to remain safe, especially if you’re involved in the healthcare or financial space.
- Unsolved Tickets Per Employee: Measuring individual employee performance by examining unsolved tickets indicates issues that need further communication and can help show if an employee needs more training. Using this metric to spark competition and reveal where everyone stands may be a positive way to help solve tickets and increase efficiency. It can also help show the needs of your customers or expose a lack of training.
Reach Your Goals with Sales and Marketing
When you’re streamlining your field service management and finances it can be difficult to keep focused on your goals. For project managers, it often feels like there are too many fires to put out before they can get to the nitty gritty of growing a business. But this is not necessarily the case – when you start tracking performance, a pay-off is the sense of satisfaction you get when you see that the numbers are in line with your goals. Then the hundreds of smaller jobs form a part of the whole.
It can happen that you lose track of your goals and this can be a wake-up call to better prioritize daily tasks or to find smarter ways of doing things. If certain issues keep arising, maybe there is a systematic problem that needs to be solved. At Fusion CPA, our business advisory services are aimed at finding and solving these issues.
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- Conversion Rate: Your team needs to measure how effectively their sales and marketing efforts are converting to income. This is also important to determine ROI or cost per lead. You may be getting a ton of website visitors or calls, but if they’re not converting at the rate that is standard for your industry, you can change your strategy to better target users that will convert into qualified leads.
- Newsletter Interaction: Sending newsletters is a good idea, but sending newsletters that don’t appeal to your readers can actually do more harm than good. Tracking clicks and interaction with newsletter content can tell you if you’re on the right track or not.
- Marketing ROI: Marketing is expensive but it can also have a high ROI so teams always need to balance their efforts.
- Customer retention: Once a client converts, are they staying on? Or are they scooped up by the next best tech company? If so, competitor analysis is needed to see what they’re getting elsewhere that is pulling them away. Or is there something they’re not happy about? Surveys can help a lot to determine where clients are having a bad experience.
- Lifetime value: What is the lifetime value of a client? It can help to separate clients into segments if there are clear distinctions between the kinds of clients you target. You may find that you have a lot of clients with low lifetime value, and few clients with high lifetime value and you can use this data to shift your focus or better serve their specific needs to increase their value.
- Up-Sell and Cross-Sell Rates: The easiest client to convert is an existing client! Sales need to get creative and talk to the operations team about ways to improve these rates because they can have valuable insights into client needs. Marketing can also zero in on services or partnerships with other companies that will add more value to your company’s services.
Finance Team KPIs for Tech Companies
The financial planning of your IT department may benefit from these KPI examples. They can help your company understand where it’s best to increase or decrease your technology investments and expenditures. Tackling this area should encourage the right type of resource allocation, accountability, and cost reductions required to get on the right path.
- Measuring Your IT Expenses: While this KPI metric may be obvious, it’s highly essential to help safeguard against high IT expenditures. Ongoing measurements also ensure that everything is progressing efficiently. This metric should help keep your IT team on target.
- Compare IT Expenses to Revenue: This IT KPI is one of your most essential metrics to analyze, especially if you strive to maintain healthy and steady growth. Comparing the two will help put your team in a position to address any anomalies and stay on target. Evaluating the IT scorecard for this KPI can be essential if you are quickly increasing expenses in short periods.
- ROI: Measuring your IT investments’ ROI percentage will help you understand how profitable you’ve been. Calculating the ROI by taking the returns and dividing them by the cost may be a basic form of measurement, but it can provide you with valuable data on each IT investment’s success.
- IT Cost Breakdown: Understanding where you are allocating your money in your IT department can help you know if you need to spend more or less on maintenance, development, infrastructure, or operations. Gaining insight from this metric should help you spend your dollars more efficiently and allow you to identify your most significant opportunities for making improvements.
- Forecasting: Taking current market trends and past financial data into account, finances can make predictions about expected profitability.
We can Help Implement KPIs and Grow Your Business
At Fusion CPA, we are highly familiar with the implementation and utilization of these types of KPIs and would be happy to help you explore how they can be used in your operations, finance, sales, and marketing departments. We can also suggest the best software solutions to track KPIs in your tech company.
Talk to Fusion CPA About Maximizing Efficiency
Our team has experience working in the tech field, and we are confident we can help your company thrive.
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