If you can measure it, you can monitor it, then you can use that insight to achieve strategic goals. That is the idea behind using key performance indicators (KPIs) to promote continuous process improvement. Mining companies can’t rely on disparate, specialty solutions to monitor data. In order to identify trends and respond faster, you need an integrated business management solution that can deliver accurate, real-time data.
It can be frustrating to have an employee announce that you’ve veered off-budget and a project or investment is going to cost more than planned. Just as frustrating is learning that the number of outstanding invoices is higher than anticipated or that it’s time to replace a piece of equipment, often a hefty expense for mining companies. If you are using disparate systems to manage your business, then you may be discovering critical information after-the-fact, which can open the doors to more serious problems.
Managers can monitor key performance indicators (KPIs) with greater speed and efficiency through an integrated business management solution. As noted in “The Disciplined Approach: How mining companies build profits through strong business processes,” a complimentary eBook that you can download today, mining companies can become more proactive than reactive with management of day-to-day operations and strategic goals. Using a centralized business management solution puts all of your core business data in single software solution, which makes it quicker and easier to find. In addition, you can monitor the KPIs that are important to you,in real-time, and watch for deviations. You can also use the business intelligence and robust reporting features to share high-level and detailed data with colleagues before something goes awry.
It is too difficult to measure data when it’s scattered amongst specialty software programs and spreadsheets. However, you can rely on an integrated business management solution to monitor KPIs that are important to your mining firm and react faster, before problems occur. Download this free eBook and contact Caron Business Solutions for more information about monitoring KPIs and achieving strategic goals with an integrated business management solution.
By Caron Business Solutions, Trusted Provider of Sage ERP and CRM Solutions in British Columbia
