KPI

Examples Of Hotel Management KPI That You Can Use

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There are literally thousands of hospitality business indicators that you can use right now. These indicators are commonly known as the hotel management KPI. When you have an effective KPI set for your hotel business, this removes the guesswork when it comes to managing the hotel business. What this does is that it checks the performance of your business through the numbers or the figures so that the managers will be able to use the data in telling what is really gong on within the hotel. Before you get around and research about the hotel management KPI, you should know the difference between that and the hotel KRIs. These two are often compared to each other but they are quite diverse. The hotel KRIs do not focus on the good side of the performance of the company; instead, you will obtain data about how risky your hotel activities are. Having said that, they are also very useful when it comes to tracking the health of your business.

Now, when looking for the best hotel management KPI for your business, you should not only focus on the entire organization because it would be very difficult to do so. You will need to divide the KPIs into different groups or classifications so that it will be easier for you to keep track of them. Among the types of KPIs that you can utilize are the KPIs for reception or front desk efficiency, housekeeping, kitchen, sales, restaurant, store, maintenance and purchasing among others.

Many hotels nowadays offer housekeeping services for their clients. If the hotel that you are managing provides such to your guests, it is essential that you keep track of its performance. This is because many clients are meticulous when it comes to the cleanliness of their surroundings especially their rooms. They are on a vacation so they expect themselves to be pampered and not to be responsible for the task of cleaning their rooms. You can measure the efficiency of your housekeeping services through KPIs such as the number of available staff members for cleaning, the feedback of customers based upon the housekeeping services they have acquired and the total amount of time required for cleaning among others.

Of course, you cannot deny the fact that it is important for you to know how well your business is responding when it comes to the sales department. Cash flow is very significant especially in this type of business. Your hospitality business indicators may vary here according to the different sales efforts that you put out. For instance, if you have a website, you can check the number or the percentage of inquiries that have turned into sales. You can also use KPIs that will tell you about the number of sales per head on your restaurant or your bar. You can also measure the gross profit on sales, the stock turnover, the carrying cost of the stock and the stock value.

Aside from the financials and the customer sales, it is important that you are well aware of how your employees are performing. Always ensure that you have a set of good hotel management KPI that will aid you in monitoring the behavior, the professionalism and the demeanor of your workers.

Customer Relationship Management And Crm Kpi

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Customer relationship management or CRM refers to all of the processes that an organization makes use of to organize and track its contacts or relationships with prospective and current customers. Hence, CRM covers quite a wide array of activities, departments, and processes, from front desk or first line interactions to analytical and behind the scene procedures. These varied practices are sometimes tracked and monitored using so-called key performance indicators or KPI practices are sometimes tracked and monitored using so-called key performance indicators or KPIs. There will be a good variety of CRM KPI to consider, associated with the different aspects of the entire customer relationship management paradigm.

CRM can be more or less divided into four separate but interrelated aspects: front office operations, back office operations, business relationships, and analysis. Front office operations would refer to that part of the system involving dealing with customers directly, whether face to face or through the phone or the Internet. Back office operations, on the other hand, vary from business to business, and involve those processes necessary to provide the appropriate products or services to the customers. Business relationships, the next aspect of customer relationship management, involve, as the term implies, forming working relationships with other companies and organizations as opposed to clients or customers. That is, these would be the firms that a business finds itself working with, as a manufacturer would work with a distributor, and so on.

Key performance indicators refer to particular measurable quantities or metrics that serve as either the most relevant or most important signs of progress or performance in particular aspects. In practice, they are usually not chosen by themselves or out of nowhere. Instead, they form an integral part of a measurable, objective goal. For instance, such a goal may be Increase gross sales by 10% from 2008 to end of year 2009. The KPI in this case would be gross sales. Of course, this specific example would not be applicable or appropriate to all organizations. Other possible KPI’s could be net profit, customer satisfaction rate, return client percentage, employee turnover, and so on and so forth.

In customer relationship management, some performance metrics may be identified in general. Front office operations, for example, would want to process customers not only quickly, but also thoroughly. That is, not only average handling time or maximum customer capacity is important, but also customer satisfaction ratio and percent of cases fully resolved. For the back office and analysis aspects, on the other hand, other KPIs would be more relevant to consider, mostly relating to the speed and efficiency of information storage, processing, and analysis.

But, of course, CRM KPI would be useless without a solid strategic plan backing them up. It would not help much to measure an assortment of quantities if they are not integrated and considered as painting a whole picture of organizational performance. However, if they are used with the proper context and mindset, metrics and key performance indicators will be able to provide invaluable insight into often mis-estimated overall performance.