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  • 1.  Finance & Accounting Department Metrics

    Founding Member
    Posted 11-18-2021 09:44
    Good morning!

    I want to implement some KPIs (annual or quarterly) for my team for 2022. I am basically starting from scratch and would love to hear what types of KPIs or metrics you have in place for your accounting and finance personnel. Any and all suggestions would be appreciated.

    Thanks.

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    Christine Sawyer CAE
    Director, Finance and Accounting
    American College of Healthcare Executives
    Chicago, IL
    312-424-9391
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  • 2.  RE: Finance & Accounting Department Metrics

    Founding Member
    Posted 11-18-2021 18:39

    Hi Christine.

    We're just starting to re-think this at PIH, but more related to monthly KPI's. I'm not sure if all of this is relevant for you, but here's some of our most recent thinking and how we'll actually calculate the metrics. Part of our goal is to build a little bit of friendly competition between our various country teams as well.

    • # Days to close the month, goal is 15th of following month:
      • Use the Date of bank account reconciliation, how many days after last day of the month is that reconciliation date?
    • # of Reclasses per month, measuring accuracy of posting:
      • Compare reclass entry processing date to original entry processing date
    • Timeliness of posting
      • # of days between posting vs. processing date (maybe do an average)
    • # Donor reports
      • Thinking about on time versus quantity (some countries have more grants than others)
      • Could do comparison on difference between due date and completion date for specific reports to see how many are done on time
    • # of new proposals submitted
    Happy to chat through these if you have any questions.


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        Brendan Eger
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        Original Message


      • 3.  RE: Finance & Accounting Department Metrics

        Founding Member
        Posted 12-13-2021 11:00
        Hi Brendan,

        Some great ideas here. Thanks for sharing!


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        Christine Sawyer CAE
        Director, Finance and Accounting
        American College of Healthcare Executives
        Chicago, IL
        312-424-9391
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        Original Message


      • 4.  RE: Finance & Accounting Department Metrics

        Founding Member
        Posted 12-06-2021 17:10
        Hi Christine,

        We are an architecture firm and the KPIs that we report on are.... Cash On Hand, Accounts Receivable Balance, Days to Collect AR, Utilization (so billable time v non-billable time).  I also like to look at FTEs v. Employee Count, Revenue by Headcount, Office Rent by Headcount, and Turnover.

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        Casey Bork
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        Original Message


      • 5.  RE: Finance & Accounting Department Metrics

        Venanite
        Posted 12-09-2021 10:44

        Thanks @Brendan Eger and @Casey Bork for weighing in and sharing.

        @Christine Sawyer - Does this help?​​

        ​

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        Truman Tang
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        Original Message


      • 6.  RE: Finance & Accounting Department Metrics

        Founding Member
        Posted 12-13-2021 11:01
        Hi Casey,

        Thank you!

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        Christine Sawyer CAE
        Director, Finance and Accounting
        American College of Healthcare Executives
        Chicago, IL
        312-424-9391
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        Original Message


      • 7.  RE: Finance & Accounting Department Metrics

        Founding Member
        Posted 02-07-2022 12:48
        hi Christine,

        Bit late to the party on this but we spent quite a while on this - developing a series of metrics from bottom up, thinking about team needs. We've found it really valuable in particular for highlighting good work that often goes unnoticed.

        Our key metrics are as follows. n.b. the first four all come from our ticketing platform which is where all finance queries (and invoices) go through, so a really useful source to us of data. FS = financial services.

         

        FS: Good/Excellent Customer Service %

        FS: Average time to resolve queries (days)

        Systems: Good/Excellent Customer Service %

        Systems: Average time to resolve queries (days)

        Journal correction rate

        Month end reporting on time

        Budget holder survey average score (/5)

        % purchase invoices paid within 60 days

        PO receipted not invoiced (£k)

        % income receipts received on time (volume)

        Debtors > 60 days (£k)

        Happy to share more details if helpful

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        Josh Weinberg
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        Original Message