5 Technology KPIs to Ensure You’re Getting a Positive Return on Investment (Yeo & Yeo)

Technology
May 25, 2022 - Yeo & Yeo


This is a Thought Leadership article by PrimeGlobal Member firm, Yeo & Yeo who give some great insight into how technology is at the heart of business growth, and the reasons why you should manage, and measure, I.T. 

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No matter what kind of business you run, technology sits at the heart of it. And it’s going to become more and more critical in the future. Big thinkers see IT as a long-term investment. They understand the short-term impacts on cash flow and the long-term benefits of business growth, increased productivity and highly satisfied staff and customers.

You’ve heard the saying, “You can’t manage what you can’t measure.” So here are five technology KPIs – Key Performance Indicators – that you could use to ensure you’re getting your return.

1. Budgeted IT Spend vs. Actual IT spend: In short, your budget represents the amount you expect to pay, while actuals are the numbers you’ve spent. Having a solid budget in place helps you forecast technology costs and reduce the chances of “urgent, emergency spending.”

2.Uptime vs. planned/unexpected downtime: Downtime is when systems and devices are unavailable for your team to do their everyday work. There are two types of downtime – planned and unexpected. It’s crucial to ensure that planned downtime for maintenance has as little impact as possible on your staff and overall productivity.

3. Recovery Point Objective and Recovery Time Objective: Recovery Point Objective (RPO) is used to determine how often your data needs to be backed up. This will depend on how often it changes and how critical the information is. Recovery Time Objective (RTO) is the length of downtime your business can tolerate until data recovery. Put another way, it’s how long you realistically have to restore full operations.

4. Mean Time Between Failures: Mean Time Between Failures (MTBF) is the average time between system breakdowns. Knowing this can help you measure the performance and reliability of your infrastructure.

5. Mean Time To Recovery: Mean Time To Recovery (MTTR) measures the average time it takes your business to recover from a failure: from discovery to fix. This can also be a valuable measure of how robust your business’s infrastructure is, and it can help you decide where to invest long-term.

Of course, there are other KPIs that you could measure to look even more deeply into your IT systems. But these are the ones we recommend starting with. They give you insight into how well your current infrastructure is working for you and help you plan for the future.


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Yeo & Yeo

Yeo & Yeo is a top 200 full-service assurance, tax and advisory firm with a reputation for personal service, commitment to clients and community support. Founded in 1923, Yeo & Yeo has grown to include more than 200 trusted professionals who have been successfully advising Michigan businesses. Through our four companies – Yeo & Yeo CPAs & Business Consultants, Yeo & Yeo Computer Consulting, Yeo & Yeo Medical Billing & Consulting and Yeo & Yeo Wealth Management – we have created a strong network of professionals with the expertise to solve complex problems in each industry we serve.

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