Need for Efficiency Measurement and Management
Efficiency metric is a performance measurement tool that helps organizations understand the different contributing factors towards net organizational output. Having a well-defined, quantifiable, and thoroughly communicated efficiency matrix can be crucial to achieving key strategic goals.
As a measurement and management tool, an efficiency matrix tracks progress of small and large changes, looking for ways to improve the organizational productivity and effectiveness. Key factors are clubbed together to determine their resultant impact on efficiency of various resources, and mapped in a 4x4 or 6x6 matrix for monitoring.
With efficiency metrics, internal stakeholders can get clear directions to make strategic moves linked to the financial performance of the organization. At the same time, the tool is useful in sustainably improve external stakeholder confidence in the company.
But, developing a viable efficiency matrix requires an impartial assessment of the company and its processes, often requiring an outsider, expert intervention. That’s precisely the kind of support hBITS can offer.
Why Choose hBITS Efficiency Matrix?
Your operational priorities and asset development can vary significantly from other organizations, even those within your industry. hBITS Efficiency Matrix solutions help you identify the specific metrics that impact your organizational efficiency and arrive at a tailor-made matrix for sustainable performance management.
- Determine key resources and activities impacting organizational performance
- Allocate performance weights to each metric as per business objectives
- Measure customer satisfaction with physical, digital, and phy-gital brand interactions
- Capture touch-point performance with heat-maps and engagement indices
- Monitor performance and impact of digital assets such as website and applications
- Track employees, providers, and user activity across facility
- Generate real-time efficiency reports on dynamic dashboards for decision making