Managing financial performance during crisis
KPI Name: Financial Crisis Balanced Scorecard Metrics
Related KPIs: Financial Statement Analysis, Market Risk, Financial Risks, Operational Risk, Active Portfolio Management, Financial Outsourcing, Financial Benchmarking, Personal Finance
Customers also viewed: Accounting Metrics | Banking Metrics
Sample reports:
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Description by authors:
When an organization experiences a financial downturn, it has to take into consideration a variety of factors to effectively deal with the situation. The need of the time is to use a standard framework that can help in getting a holistic view of the business. KPIs arranged in a Balanced Scorecard can help the business in managing its performance during a financial crunch.
KPIs in this regard can be broadly grouped under four perspectives- financial, business development, operational and workforce management.
Financial Management consists of KPIs such as % increase in credit days, % decrease in debtor days, liquidity ratio, accuracy of financial risk forecasts and consistency of cash flows.
Business Development Perspective takes into account KPIs like number of new long-term contracts initiated, client oriented products and services introduced, lead generation effectiveness, response level.
Operational Perspective provides an insight of the operations of the business. It comprises of KPIs like % reduction in decision-making and lead time, % decrease in cycle time to resolve adjustments, simplification of lending conditions and identification of negative patterns.
Workforce Management Perspective provides measures to effectively manage the workforce during financial crunch. It includes KPIs such as % decrease in staff turnover rate, training uptake, % decrease in sickness/absence Level, crisis communication and continuity of information and feedback.
KPI in Excel – Screenshot:
