A recent survey indicates that successful IT service providers are increasingly realizing that their business data is the most powerful tool in their toolbox. Specifically, businesses with a better grasp on core metrics and key performance indicators (KPIs) find themselves able to make accurate, fact-based decisions, meet realistic staff utilization goals, and recognize trends and market opportunities.
The IT Service Provider Benchmarking Study, conducted in February 2013 by Decision Tree Labs on behalf of Autotask Corporation, found pronounced trends toward the use of integrated business management systems that enable greater efficiencies and support fact-based decision- making among independent technology solution providers. Moreover, the research indicates that businesses tracking KPIs, including account and contract profitability, billable hour utilization rates and customer satisfaction have a more accurate understanding of their overall firm performance, market opportunities and market trends.
The Importance of Metrics
Ninety percent of responding service providers report using some form of business management platform to run their operations more efficiently and to automate data collection and other tasks. Increasingly, best-in-class providers actively capture these KPIs to make more accurate decisions, meet internal utilization goals, and achieve business growth.
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