We’ve talked a bit lately about key performance indicators (KPI) and how they can be used internally to measure things like customer retention, capital expenditure, loan loss, refinery capacity and more. But what about using those same KPI’s to please your customers?
For a major equipment rental company, Entrance built a Silverlight application, hosted as part of a larger application, in order to report their key performance indicators. Some of their most important KPI’s include where money is being spent on equipment, such as backhoes, generators, pumps, etc., in addition to utilization of this equipment.
Knowing how often each piece of equipment was being used compared to what was spent on that equipment and the total inventory is very important to our client’s bottom line. Ensuring that the equipment available matched the need meant very little inventory was sitting idle, which maximized profits.
Equally important, however, is the client facing portion of this application. Clients can now log in and see where there money is being spent- how much time, with what equipment, in what location.
Our client’s application is important to customers because it helps them predict costs for the future or cut back where necessary. This level of detail adds a lot of value for these customers, in addition to saving our client time, as the application is self-serve.
Where could KPI’s be helping your company save money? Even better, could this same information be shared with clients and become a key differentiator?
Get started laying out your key performance indicators today with a helpful worksheet!