The ability to make fact-based decisions regarding the strength of your business is crucial to success. Knowing what information to base those decisions on is even more important.
Here are five metrics every IT solutions provider should track for their business:
- Billable employee utilization rate: The ability to track employees’ utilization rates against targets at any time not only gives instant insight into current performance versus projections, it can have an immediate impact on how you schedule resources going forward. You will want to meet or exceed your target utilization to ensure profitability.
- Service level agreement (SLA) first response and resolution performance: When it comes to providing support to clients, nothing is more important than the ability to meet promised response and resolution timeframes. Solid SLA performance means a strong brand and an ability to retain clients.
- Billable verses non-billable time: Accurately capturing and tracking billable and non-billable time is essential for managing resources, analyzing and updating pricing and understanding if contracts are profitable or not.
- Ticket completion rates by issue type, source, and priority: Being able to see incident ticket completion metrics by issue type, asset, source, and priority will reveal potential problems, potential for missing SLAs, and an opportunity to improve service delivery.
- Opening backlog trends over time: Keeping an eye on changes in backlog volume and balances over time will make it easier to identify and correct systemic issues, identify problem areas, improve processes, and reduce the risk of missing SLAs.
To quote my colleague Pat Burns, Autotask vice president of product management, “The most important thing is to make a fundamental commitment to metrics in the first place.” When you understand the metrics that matter most to your business, you can harness the data that is most important and use it to improve business outcomes.
For five additional metrics ITSPs should track, check out a checklist here.