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Review top 6 leading KPI software in 2021

Setting and managing KPIs is the most important task for any business, regardless of a startup, SME, or MNCs. A good KPI software will be the "key point" for this problem.

<h2 style="text-align:justify;">I. What is KPI and their role?</h2><h3 class="indent-1" style="text-align:justify;">1. What is KPI?</h3>KPI stands for Key Performance Indicator, which is a tool to measure and evaluate work performance through data, ratios, quantitative values to reflect the performance of organizations or functions or individuals.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/fc5de2c7-0244-41f5-aa8e-5069656431fa" alt="KPI is a job evaluation index expressed through data, ratios, and quantitative values."><figcaption>KPI is a job evaluation index expressed through data, ratios, and quantitative values.</figcaption></figure>Organizations and businesses often use KPI at many different levels to evaluate their success with a pre-set goal. High-level KPIs will focus on indicators and common goals of the whole company. In contrast, low-level KPIs are used for individuals and departments to evaluate the performance of specific jobs and processes.<h3 class="indent-1" style="text-align:justify;">2. The role of KPI</h3>For companies:<ul><li style="text-align:justify;">Monitor employee performance intuitively, transparently, accurately</li><li style="text-align:justify;">Propose appropriate salary, reward and discipline regimes</li><li style="text-align:justify;">Improve the efficiency of the acceptance testing</li><li style="text-align:justify;">Ensure goals and visions can be completed as expected</li></ul>For employees:<ul><li style="text-align:justify;">Understand the level of completion of the work compared to the set goals</li><li style="text-align:justify;">Motivate to work towards achieving goals</li><li style="text-align:justify;">Detecting defects if the task is behind schedule for timely improvement</li></ul><h3 class="indent-1" style="text-align:justify;">3. KPI is important, but why do enterprises often fail to achieve it?</h3>Although they understand KPI well, not all firms can achieve the target KPI. Take a look at some of the reasons below. Does your business face one of these challenges?<ul><li style="text-align:justify;">The goals are unclear, inappropriate and not SMART enough.</li><li style="text-align:justify;">KPI is not transparent enough, which means target KPI does not receive the consensus of employees, causing harmful consequences for the whole system.</li><li style="text-align:justify;">The KPI is unrealistic, failing to meet the actual capacity of the business.</li><li style="text-align:justify;">Lack of qualified managers to monitor and give timely warnings when implementing the KPI system.</li><li style="text-align:justify;">The KPI development process is cumbersome but does not focus on the primary goal of the whole enterprise.</li><li style="text-align:justify;">The actual ability of the staff is not good enough to achieve the decided KPI.</li></ul>Only one reason is enough to make the whole KPI system ambiguous and unfeasible. Make sure that before embarking on KPI implementation, the enterprise has all the necessary resources.Read more: <a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/news/en-3-ways-to-convert-from-kpi-to-okr-objectives-and-key-results-36">3 Ways to convert from KPI to OKR (Objectives &amp; Key Results)</a><figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/b9ed9187-7e4d-461e-afe5-cb1ce7eb35cb" alt="It is necessary to have a qualified manager to monitor the implementation of KPIs."><figcaption>It is necessary to have a qualified manager to monitor the implementation of KPIs.</figcaption></figure><h2 style="text-align:justify;">II. So, how should companies build and implement a KPI system?</h2><h3 class="indent-1" style="text-align:justify;">Step 1: Identify the department or person who builds KPIs</h3>There are two main methods:<ol><li class="indent-1" style="text-align:justify;">A department directly builds a KPI system for positions in that department. The human resource team only plays a supporting role to ensure that the KPIs comply with the whole organization's direction.</li></ol>According to this method, the person who develops KPI is usually the Head of the department who has the best understanding of the positions &amp; tasks in the department. The larger the department, the more subdivided the KPI system is for subordinates.Advantages: KPIs will be highly feasible and clearly show the functions and tasks of the department.Disadvantages: If the department sets its own KPIs, there will often lack of objectivity, which sets the goal too low. The advice is that if using this method, it is necessary to well communicate with the human resources team and C-level team.2. The C-level team or human resources department will provide a set of KPIs for each department. Unlike the method above, this way ensures objectivity and logic. However, the given KPIs may not be realistic and do not correctly represent the functions and duties of the department. To overcome this problem, the KPI system, after being built, needs the appraisal and evaluation of each functional department.<h3 class="indent-1" style="text-align:justify;">Step 2: Identify KPIs</h3>The department's KPIs are mainly based on the functions and tasks of that department. The KPI builder will set a general index according to that department's characteristics, then create the detailed KPIs for each position and title.KPIs for each position and title: KPIs for employees are based on their job descriptions. At the same time, KPIs must follow the SMART model. In addition, the KPI evaluations need to be done on a monthly, quarterly or yearly basis.After you have agreed on the KPIs of a department or a whole business, the next step is to apply SMART criteria to evaluate each performance indicator:<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/ed6566fa-3857-41dc-b2a2-7620be84f8e8" alt="SMART model"><figcaption>SMART model</figcaption></figure><h4 class="indent-2" style="text-align:justify;">S - Specific: Specific goal.</h4>Each indicator parameter must be separated: Indicator Name, Calculation Formula, Source of Information, Weight, Unit, Plan Number and Implementation Number. Mixing all these factors makes it challenging to deploy and put in the software.<ul><li style="text-align:justify;">The Indicator Name: It should be brief but must reflect the nature of the indicator. For example: Revenue or Export revenue. It makes deployment more convenient, eliminating unnecessary controversy.</li><li style="text-align:justify;">Calculation Formula: It must be clear and agreed on parameters such as revenue, output, etc.</li><li style="text-align:justify;">Total Weight must be 100%</li><li style="text-align:justify;">Plan Number: It is a number or timeline, which clearly shows the goal. For example: With the revenue calculation, Unit = Billion USD, Plan Number = 150. Do not mix Plan Number and Unit.</li><li style="text-align:justify;">Implementation Number: It is a number reflecting the actual results when implementing. For example, the actual number for the period is 170 (billion VND) for the revenue.</li></ul><h4 class="indent-2" style="text-align:justify;">M – Measurable: Measurable goal</h4>KPIs must be measurable. Ideally, companies should get data from available management software such as ERP or CRM. If not, the data source must be specified. Has the indicator not been assessed before, a new measurement method should be added. For example, the customer satisfaction rate has not been measured in the past. So it is necessary to add an analysis technique such as a Customer Survey.<h4 class="indent-2" style="text-align:justify;">A – Attainable: Attainable goal</h4>Metrics should be within reach of the company or department. However, they are usually set to be more challenging than actual.<h4 class="indent-2" style="text-align:justify;">R – Relevant: Relevant factors</h4>Take into account factors that may affect your ability to achieve your goals. For example, the Covid-19 pandemic can significantly affect the ability of most businesses to achieve their goals, which should be considered when creating planning metrics.<h4 class="indent-2" style="text-align:justify;">T – Timed: A goal with a specific deadline</h4>KPIs must have a specific timeline. Usually by month, quarter, year, or a particular milestone of the year.Also, note that the performance metrics selected as KPIs will vary depending on the business type, employee-specific activities and departments. For instance, KPIs can be used to measure areas such as units sold, profit per item, product quality, customer service, the time needed to complete tasks, customers referrals, employee turnover.Even positions that seem not to contribute to the financial business growth need KPIs to align with the goals and future of the company. For example, the KPIs for the technical department is to improve the quality of the Internet connection.<h3 class="indent-1" style="text-align:justify;">Step 3: Evaluate KPI completion</h3>After determining the KPIs for each department and job title, it's time to apply them in human resources and productivity management.Because KPIs are defined based on measurable criteria, there is undoubtedly a specific evaluation method for each KPI item. In general, every job and KPI can be divided into 3 main groups as follows:<ul><li style="text-align:justify;">Group A: takes a lot of time to implement, dramatically affects the common goal.</li><li style="text-align:justify;">Group B: takes little time to implement, affects the overall goal OR/AND takes a long time to implement, has little impact on the comprehensive plan.</li><li style="text-align:justify;">Group C: takes less time, less impact.</li></ul>Each of these KPI groups will have different weights, depending on their importance, such as A: 50%; B: 30% and C: 20%To evaluate the completion level of an employee, set 3 KPIs, including A, B and C.<h3 class="indent-1" style="text-align:justify;">Step 4: Relationship between the evaluation of KPIs and salary</h3>For each KPI completion level, the KPI system builder will determine a specific salary and bonus.This policy can be pre-determined by the enterprise's leadership levels, the department's top managers, the person who builds the KPI system, or the employees themselves who agree with each other.Usually, there will be an acceptance testing session to evaluate the work results at the end of each evaluation period. The evaluation should be objective and comprehensive by incorporating the boss, colleagues, customers and employees themselves.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/eb6f407a-9a23-4c8a-9369-c50f311a95e7" alt="Evaluate work performance objectively based on KPI."><figcaption>Evaluate work performance objectively based on KPI.</figcaption></figure><h3 class="indent-1" style="text-align:justify;">Step 5: Adjust and optimize KPIs</h3>KPIs can be tracked and adjusted over time.Initially, review the KPIs that have just been created to ensure that the metrics are consistent. It may take the first few months for everything to be optimal, but maintain them for at least a year once the final KPIs are in place.<h2 style="text-align:justify;">III. Some notes on KPI</h2>Before building KPIs, firms need to create some context criteria for each indicator. Only then can the implementer clearly understand the meaning of each KPI. Indicator names and metrics often have an implicit comparison with a particular benchmark such as industry average growth rate, annual growth, etc. For example, a 30% revenue growth rate can be built based on an industry growth rate of 25%. And businesses want to achieve a rate higher than the industry average.KPIs are often considered at the executive level. Therefore, it is not advisable to track every performance metric in more than one place. For example, at the strategic level, businesses should only track and measure the metrics that have the most significant impact on the company.<h2 style="text-align:justify;">IV. About Estuary Solution – Comprehensive KPI management software for enterprises</h2><figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/cf4bc256-2892-43a0-a54c-6e3bc8215454" alt="Manage personal KPIs anytime, anywhere on the Estuary's mobile app"><figcaption>Manage personal KPIs anytime, anywhere on the Estuary's mobile app</figcaption></figure>Estuary provides an <a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/services/internal-working-system">internal working system</a>, helping to effectively manage goals that meet all 6 criteria: consistency, inheritance, linkage, standardized measurement, commitment, and ease easy to execute. It is the right tool for businesses that want to manage KPIs, and at the same time, build an organization where all members connect and work towards a common goal.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/contact?msg=Request+Demo+Internal+Working+System&amp;service_id=3">REGISTER NOW FOR A DEMO OF INTERNAL WORKING SYSTEM</a>&nbsp;

Understand & know how to build KPI in 5 minutes!

High-level KPIs will focus on indicators and common goals of the whole company. In contrast, low-level KPIs are used for individuals and departments to evaluate the performance of specific jobs and processes.

Applying the OKR model brings more benefits to businesses. But how to convert from existing KPI to OKR?<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/">Estuary</a> - For years, most companies have used the KPI model. However, as the business grows, the KPI system only meets a satisfactory level because KPI is an indicator of work control but not inspiring or increasing focus.<blockquote>Therefore, many leaders have switched to apply the OKR model. It gains success in the world's largest companies such as Google, Intel, Amazon.</blockquote><figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/a283cf59-6731-4f89-a1fa-99f914e06fdb" alt="3 Steps to convert from KPI to OKR (Objectives &amp; Key Results)"></figure><h2 style="text-align:justify;">Differences between KPI and OKR</h2>OKR (abbreviated by Objectives &amp; Key Results) has similarities with KPI. Still, OKR offers several benefits that traditional control processes do not have. The structure of the OKR model includes O - Objective and KR - Key Results to achieve that objective.According to OKR philosophy, governance is not a one-way, top-down assignment but a two-way interaction between leaders and employees, building and committing to achieving a mutual goal through specific key results. In an enterprise, it is crucial for workers to know their abilities and whether they can develop further or not. By setting goals, managers can exploit the potential of their human resources and help employees work with aspirations and be motivated to self-develop.Leaders use OKR to set quarterly and annual goals, which are guaranteed to inspire employees. They will then control and measure each step to achieve the key results. When the key results are completed, the organization is also moving towards its original goal.Read more: <a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/news/32-en-what-are-okrs-5-things-you-must-know-about-management-by-objectives-and-key-results-0795de5c">What are OKRs? 5 Things you must know about Management by Objectives and Key Results.</a>KPI (Key Performance Indicator) is an evaluation system to measure work efficiency through data, ratios, and quantitative indicators, reflecting the performance of organizations, functional departments, or individuals.Organizations often use KPI at many different levels to evaluate their success with a pre-set goal. High-level KPIs will focus on indicators and common goals of the whole business. In contrast, low-level KPIs assess the work performance of process systems, individuals, and departments.Read more: What are KPIs? Guidelines for building KPIs for employeesAccording to the description above, KPI and OKR have quite a few differences. KPI is a measurement method, but OKR is not.A KPI is an apparent number, but that number doesn't explain why or how to get there. For example, an employee is assigned a KPI of $200 million in sales/month, but why the target number is $200 million? And what does that number contribute to the company's big goal, and how to achieve $200 million? Well, the KPI does not explain it. In this respect, OKR does very well, and for the goal to come true, employees need to understand that goal.In an OKR system, the evaluation of Key Results helps to measure the achievement of inspirational goals. Due to such characteristics, the transformation between the 2 methods will be more complicated, not simply copying indicators from KPI.Suppose a company is using a KPI model and wants to switch to OKR. In that case, they will usually only consider KPIs as objectives at first. The complete transition between the two models takes time.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/d2fc6e8e-aa4e-431a-990d-a2b014a97664" alt="Manage OKRs and KPIs on Estuary Work Management Software"><figcaption>Manage OKRs and KPIs on <a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/services/internal-working-system">Estuary Work Management Software</a></figcaption></figure><h2 style="text-align:justify;">Here are four simple steps of the KPI to OKR conversion process:</h2><h3 class="indent-1" style="text-align:justify;">Step 1: Set objectives</h3>Objectives in OKR are not metrics, so they cannot be copied exactly from KPIs. You need to take a closer look at your current KPIs and place them in the group of inspirational objectives.<h3 class="indent-1" style="text-align:justify;">Step 2: Generate key results from KPI</h3>Once objectives have been established, you can set the KPIs as key results.Make sure there are no more than 3 KPIs for one objective to avoid being overwhelmed. Felip Castro - an OKR expert, advised that each OKR model should have no more than 10 key results. The smaller the number of critical results, the easier it is to understand and implement objectives.<h3 class="indent-1" style="text-align:justify;">Step 3: Identify the key results correctly</h3>The best way to set key results is to use the SMART model to evaluate established goals. Key results should be specific, measurable, achievable, relevant, and time-bound.It would help if you asked the following questions:<ul><li style="text-align:justify;">S (Specific): Are the key results clearly defined and understandable to members?</li><li style="text-align:justify;">M (Measurable): Can the success or failure of key results be measured?</li><li style="text-align:justify;">A (Achievable): Is this crucial outcome achievable in practice?</li><li style="text-align:justify;">R (Relevant): Are these key results significant to the goal?</li><li style="text-align:justify;">T (Time-bound): Have you set a deadline for the objectives to be completed? The usual timeframe for the OKR model is one quarter.</li></ul>Read more: <a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/news/34-en-3-steps-to-identify-the-right-key-results-in-okrs-11feb71d">3 Steps to identify the right Key Results in OKRs</a><h3 class="indent-1" style="text-align:justify;">Step 4: Use a proper monitoring tool</h3>As soon as you start with OKR, you will gradually realize that implementing the OKR model is not easy.In terms of human beings, not every company has the best people like Google. Discipline, culture and commitment, we are still far from the world's leading companies.In terms of method, applying OKR often faces difficulties from setting goals to implementing them. Following the OKR principle is very difficult. What are aspirational Objectives, and are Key Results measurable? One person's KR is often another person's O? But corporations don't have much time for trial and error. They can't wait months or quarters to learn how to apply OKR properly.<blockquote>Therefore, most firms have to apply both OKR and KPI at the same time.And it's time for companies to apply a proper tool to monitor and evaluate the results of these goals in a scientific and unified way.</blockquote><a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/services/internal-working-system">Estuary's Enterprise Work Management Software</a> is a practical goal administration system that meets 6 criteria: consistency, inheritance, linkage, standardized measurement, commitment and ease of implementation. It is the right solution for businesses that are intending to use the OKR model in governance.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/95d43f73-d0f9-4dc4-80ef-e47c52798c28" alt="App Interface of OKR &amp; KPI tracking on Estuary Work Management Software"><figcaption>App Interface of OKR &amp; KPI tracking on Estuary Work Management Software</figcaption></figure><h3 class="indent-1" style="text-align:justify;">Estuary's Enterprise Work Management Software helps firms build and manage objectives through the following steps:</h3><ol><li style="text-align:justify;">Set up the organizational structure (including departments and teams under the departments), metrics (target measure indicators) and cycle</li><li style="text-align:justify;">Set individual, group, department and company goals: Includes two methods: OKR (measured by Key results) and KPI (measured by specific indicators).</li><li style="text-align:justify;">Manage individual, group and departmental goals</li><li style="text-align:justify;">Update &amp; evaluate objectives: Automated check-in, self-review or review by managers</li><li style="text-align:justify;">Report objective status: Provide metrics in cycle</li></ol><h2 style="text-align:justify;">Summary</h2>With the OKR model, you can even expand your team size by 50 people without worrying about losing or disrupting productivity. It's also more accessible than ever to evaluate what each company member wants and achieves each quarter. Converting from KPI to OKR is not an overnight story. Still, with the help of modern management tools, businesses can build a unified goal system including OKRs and KPIs and measure them accurately.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/contact?msg=Request+Demo+Internal+Working+System&amp;service_id=3">REGISTER NOW ESTUARY WORK MANAGEMENT SOFTWARE</a>&nbsp;

3 Ways to convert from KPI to OKR (Objectives & Key Results)

In an OKR system, the evaluation of Key Results helps to measure the achievement of inspirational goals. Due to such characteristics, the transformation between the 2 methods will be more complicated, not simply copying indicators from KPI.

Objectives in OKRs can be quickly determined, but how do you select the right Key Results?When getting started with OKRs, you'll quickly find that prioritizing goals is as tricky as articulating and structuring them. That's why it's not a good idea to rush the OKR management process into the next phase. If your team is going to implement it in a quarter, make sure everything is ready.Read more: <a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/news/32-en-what-are-okrs-5-things-you-must-know-about-management-by-objectives-and-key-results-0795de5c">What are OKRs? 5 Things you must know about Management by Objectives and Key Results.</a>Once you've carefully selected your Objectives, it's time to create Key Results. And this work is truly an art.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/e7ad4a4f-3746-4704-b0c2-89cfc9fba8b9" alt="Basic OKR model for a business"><figcaption>Basic OKR model for a business</figcaption></figure><h2 style="text-align:justify;">Step 1: Identify the elements of a Key Result</h2>A Key Result includes the following features:<ul><li style="text-align:justify;">Metrics</li><li style="text-align:justify;">Start value</li><li style="text-align:justify;">Target value</li><li style="text-align:justify;">Title</li></ul><h3 class="indent-1" style="text-align:justify;">1. Metrics</h3>Indicators are a way for us to measure Key Results. Famous metrics that evaluate product and customer success include Net Promoter Score (NPS) and Monthly Active Users (MAU). In contrast, factories and manufacturers use production-oriented metrics.But these stats are a struggle for some teams. Some lack motivation, some have never measured these metrics before for Key Results.Therefore, you must be able to track the necessary metrics before adding to Key Results. If you're too busy and can't prioritize measuring these metrics, you won't be able to see progress in return.<h3 class="indent-1" style="text-align:justify;">2. The Start Value &amp; the Target Value</h3>The definition of these two values ​​is not difficult to understand. The Start Value is the beginning point for Key Result at the start of the quarter or year. The Target Value is an ending point for Key Results at the end of the period.It won't be easy if you determine the Target Value without the preliminary standard. In that case, you can use the first two weeks of the quarter as a benchmark. While there is a risk if the data for those weeks isn't large enough, it shouldn't stop you from preparing your target value.<h3 class="indent-1" style="text-align:justify;">3. Title</h3>You may think that relying on the above scale and indicators means you have all the necessary information. However, to fully bring out all benefits and ensure interoperability &amp; internal transparency, OKRs must be easy to understand and clear. That's why the Key Result's Title is an integral part. The title of the Key Results directly reflects the goal to be achieved.For example, you could name a Key Result "Double NPS" - where NPS is the Metric, the Start Value is 20, and the Target Value is 40. Depending on the employee's opinion, you can also name the Key Result "Increase NPS from 20 to 40".<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/20a99336-265d-440f-a1a9-d18e3782f788" alt="3 Steps to identify the right Key Results in OKRs"></figure><h2 style="text-align:justify;">Step 2: Two mistakes to avoid when defining Key Results</h2>You think putting the Key Results out of reach will motivate all to work towards the goal. It sounds reasonable, but this is also when the wheel starts to derail.Key Results are the core factor that makes the OKR model practical compared to other goal-setting methods such as SMART. Therefore, it needs to be precisely defined based on essential rules.Read more: OKR Model and SMART Model: Similarities and Differences.<h3 class="indent-1" style="text-align:justify;">Mistake #1: Never say "at least" or "must be above."</h3>Most people understand Key Results should be "hard to achieve" a bit. If you put titles with phrases like "at least" or "must be above", people will understand that you are expecting "must-be-above value". When you set a goal to the bare minimum, you are not only not creating a challenge for yourself, but you also risk bringing down the team's morale.The "least" value isn't challenging. We can assume that the goal is reached before the end of the quarter. Then what? The results are already 100%. So you expect people to keep going. That's hard. The idea behind the OKR's 70% Rule is that you can accomplish 70% of your goal, so 100% is impossible. Therefore, delete the word "least" from the Key Result's Title, and leave the Target Value level higher.<h3 class="indent-1" style="text-align:justify;">Mistake #2: Never say "below" or "maximum."</h3>Sounds simple right? I see most people set their Key Results to something like "Less than 4 customers unsubscribed this quarter" or "Up to 10% of leads unsubscribe our emails."Imagine the following case. For the goal of limiting contract cancellations, at the beginning of the quarter, you are always at 100%. You've only lost 1, 2, or 3 clients during the quarter so far, so that's still a 100% target. Looking at it from that angle, people will think they're doing a good job. And when it came to the last week of the quarter, the fourth customer cancels the contract. So it's all down to 0%.It's terrible, and it's worse if you don't know how to fix the situation. It would be best if you avoided that case at all costs.<h2 style="text-align:justify;">Step 3: Connect Key Results and Objectives into a unified management system</h2>Just one Objective and a few Key Results is not enough. For the OKR model to be highly effective, you need to ensure the following criteria for your Objectives and Key Results:<ul><li style="text-align:justify;">Consistency and close coherence between personal, departmental and company goals</li><li style="text-align:justify;">Accurate measurability of Key Results</li><li style="text-align:justify;">Regular updates of data</li><li style="text-align:justify;">Quickly follow up and join a discussion</li><li style="text-align:justify;">List of specific tasks to achieve OKR rather than focusing on initial planning</li></ul>That is to say, you need to put the Objectives and Key Results into a more holistic picture to clarify the mutual goal from the C-level personnel to ordinary employees. That is why enterprise work management software was created to support administrators effectively.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/89c89b85-581a-477c-b073-2f01ab8e0705" alt="Estuary's Enterprise Work Management Software Interface"><figcaption>Estuary's Enterprise Work Management Software Interface</figcaption></figure><a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/services/internal-working-system">Estuary's Enterprise Work Management Software</a> is a great tool to help you build and administer the OKR system in your business. Powerful features make it easy for companies to quickly set up and track Key Results through visual data that's updated daily. At the same time, this platform connects managers and employees to the common goals of the business.<h2 style="text-align:justify;">Summery</h2>In the OKR model, each Key Result plays a vital role because it is closely related to the goals of each individual, each department and the whole company. Determining the right Key Results is hard; putting them in the proper place in the big picture is even more challenging. I hope this article can help you create an OKR system faster, easier and get results soon.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/contact?msg=Request+Demo+Internal+Working+System&amp;service_id=3">REGISTER NOW ESTUARY WORK MANAGEMENT SOFTWARE</a>&nbsp;

3 Steps to identify the right Key Results in OKRs

Key Results are the core factor that makes the OKR model practical compared to other goal-setting methods such as SMART. Therefore, it needs to be precisely defined based on essential rules.

What is debt management? How to effectively manage debt for corporations? Read the following article to get answers to the concept of debt and practical financial management experience for companies.It is difficult to avoid debt when doing business. Customers owe you, and you owe suppliers. Everything is like a loop of consequences that directly affects the business's cash flow. Therefore, debt management is crucial. Without a clear policy, procedures and regulations, you will soon reach the brink of bankruptcy. Effective debt management will help you understand the company situation as well as manage cash flow more easily.<h2 style="text-align:justify;">1. What is debt management?</h2>What is the debt management concept? Debt management is the process of tracking and recording receivables or payables with customers and suppliers when the purchase and import transactions arise. It helps enterprises control finance effectively.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/18690256-1a00-4553-8c9e-a6d039354e6d" alt="What is debt management? How to manage debt effectively?"><figcaption>What is debt management? How to manage debt effectively?</figcaption></figure><h2 style="text-align:justify;">2. What does debt management include?</h2>Debt management usually includes 2 main parts: administration of receivables &amp; payables of customers and suppliers. So for each of these subjects, how should enterprises manage finances effectively?<h3 class="indent-1" style="text-align:justify;">2.1. Customer debt management</h3><ul><li style="text-align:justify;">Set up a clear payment policy</li><li style="text-align:justify;">Does your business accept debt purchasers?</li><li style="text-align:justify;">If yes, what conditions and requirements must the customer meet to be able to sign a debt?</li><li style="text-align:justify;">How long does this debt need to be paid?</li><li style="text-align:justify;">If the deadline is delayed, what is the plan to handle it?</li></ul>Those are the basic questions to establish a clear payout policy that you must be able to answer. These will help you limit the situation that customers have money but intentionally delay debt payoff. And below are solutions for debt disputes if they arise.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/15109ab1-cbf2-4363-92b4-0512ea5225e6" alt="Always have a transparent customer debt management policy"><figcaption>Always have a transparent customer debt management policy</figcaption></figure><h4 class="indent-2" style="text-align:justify;">Have a transparent management process</h4>Not all customers are "self-aware" of their debt to pay on time. Most businesses have to talk to them to expect to receive money. But you don't simply ask and demand whatever you want; you must have a specific process to push debt payoff while still maintain professionalism.<ul><li style="text-align:justify;">The process should specify who is to contact the customer?</li><li style="text-align:justify;">Who is the debt collector?</li><li style="text-align:justify;">Before going, how to remind guests?</li><li style="text-align:justify;">How long after the reminder time to go to meet customers?</li><li style="text-align:justify;">After receiving money, who should get the cash at the final step?</li><li style="text-align:justify;">If the meeting fails, how to renegotiate with the customer?</li></ul>When every step in the process is written down in detail, you'll be easier to control. When problems arise (e.g. bossy debt collector's attitude), it's also quicker to find the cause and deal with it.<h4 class="indent-2" style="text-align:justify;">Choose the proper debt collection method</h4>The debt collection process faces many difficulties, mainly because customers refuse to pay or make excuses to postpone debt. As such, you need to prepare some backup debt collection methods for customers who are too "muddy". Here are some options you can refer to:<ul><li style="text-align:justify;">"Terrorise" customers by texting, calling, emailing: Every once in a while, you will "remind" about the debt. If the customer does not want to be disturbed, they must pay early.</li><li style="text-align:justify;">Contact customers' relatives: Customers may not be afraid to delay their debt payoff, but it is unlikely that their relatives will either. You can come to meet, make friends and confided in the debt that their children or siblings are missing from you. Although it is unlikely that those people will pay the debt on their behalf, the pressure may impact the customers.</li><li style="text-align:justify;">Hire a debt collection service: You should hire an outside debt collection service for large debts that are too late. They have very clever ways to push customers to pay you.</li><li style="text-align:justify;">Publicise bad debt on Facebook: This method should only be applied when customers are too "muddy", and you do not want to continue selling to them anymore because disclosing sensitive information like this will worsen the relationship between both sides.</li></ul><h4 class="indent-2" style="text-align:justify;">Choose a debt collector with persuasion skills</h4>Debt collection is inherently a sensitive issue, so the debt collector must be very skilful if you want to get money. It would help if you do not choose short-tempered, impulsive people with poor situational skills, but choose someone patient and decisive.<h4 class="indent-2" style="text-align:justify;">Always have a backup plan when customers delay paying the debt</h4>The more considerable debt, the higher the chance debtors refuse to pay it, with the likelihood of up to 80%. It is very typical, so you need to prepare a backup plan. The best way is to convince customers to pay in instalments so that customers will feel less overwhelmed.<h3 class="indent-1" style="text-align:justify;">2.2. Debt management with suppliers</h3><h4 class="indent-2" style="text-align:justify;">Agree on payment time with suppliers</h4>When working with suppliers, you need to agree with them on the payment term. Please make it clear how long it takes from signing to receiving payment and how much to pay. The longer this period is, the better off you are, so try to negotiate well.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/e44518f8-3d75-4230-b599-0393b1930f64" alt="Clear agreement on the payment policy between your business and suppliers"><figcaption>Clear agreement on the payment policy between your business and suppliers</figcaption></figure><h4 class="indent-2" style="text-align:justify;">Send debt confirmation sheet</h4>When the payment is near due, you should make a list of the debts and then send an email to the supplier to confirm one last time and avoid future disputes and be more proactive in terms of time.<h2 style="text-align:justify;">3. How to effectively manage debt?</h2>There are many ways to manage finances for a retail store, such as traditional notebooks, Excel tools and debt management software. Let's find out the advantages and disadvantages of each of these management methods to see which is right for you!<h3 class="indent-1" style="text-align:justify;">3.1. Management by books</h3>It is a very classic debt management method that many traditional firms are applying. When there is a debit, the business owner will record information such as date, amount, etc., in a notebook.The advantage of this administration style is that there is no cost. With just a pen and a notebook, you can manage the finances of the business.But on the contrary, the disadvantages of this debt management method are significant. You will spend a lot of time and effort taking notes, which quickly leads to confusion. Not everyone has a computerised head to be able to calculate details without errors.Moreover, recording on books has a very high risk of data loss. Many companies lose their financial books due to inevitable accidents such as natural disasters or fires. Then there is little chance to collect or pay the debt.<h3 class="indent-1" style="text-align:justify;">3.2. Manage with Excel</h3>This management style is a bit more modern. Business owners will use a simple Excel file to record and calculate debt more efficiently and accurately than recording in a notebook.However, this method still has many disadvantages. Because the file is saved directly on the device, you need to open it on that device for more accurate recording and management. Of course, there is a way to share the data file with others, but all edits will not be updated to that file. You will have to share the file back and forth between devices, which is time-consuming and confusing.In addition, similar to book management, debt management in Excel is not face a high risk of data loss. If someone unintentionally or a bad guy deletes the file, or when the device has an unexpected problem or breakdown, it also means that you have to say goodbye to the debt data.<h3 class="indent-1" style="text-align:justify;">3.3. Manage debt with management software</h3>It can be said to be the most advanced management method today. To achieve the highest efficiency, you must have a standard and accurate database of customers, suppliers (name, address, phone number, email, etc.) and their debts over time. Just fill in information one time for the first time; customer or supplier data will automatically show when you enter their name again.<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/services/internal-working-system">Estuary Debt Management Software on mobile application</a> automatically generates a debt report for each customer and supplier, making it easy to reconcile debts. All transactions are recorded in detail for each order, even each product included in one order.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/31670cb6-be98-4483-9fdf-7dfd990e8076" alt="Easily track sales &amp; debt of customers via smartphone"><figcaption>Easily track sales &amp; debt of customers via smartphone</figcaption></figure>In particular, the data on the software is synchronised to the cloud. You can access the software with many different devices such as computers, tablets or smartphones. Data are updated continuously in real-time, and you don't have to worry about data loss anymore.<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/">Estuary</a> is a digital transformation company that provides a financial management platform with debt tracking &amp; reconciliation functions. It gives from overview report to detailed analysis such as the customer's liabilities, supplier's liabilities, and due date.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/contact?msg=Request+Demo+Internal+Working+System&amp;service_id=3">REQUEST DEMO FOR DEBT MANAGEMENT PLATFORM NOW</a>&nbsp;

5 Ways to manage debt effectively for business

Debt management is the process of tracking and recording receivables or payables with customers and suppliers when the purchase and import transactions arise. It helps enterprises control finance effectively. 

What is debt management? How to effectively manage debt in business? 

With the convenience of using sales management software on the mobile application, you can use them anytime, anywhere, whenever connected to the Internet.Evaluation of Estuary sales management software on the mobile applicationThe platform has excellent features that allow you to adapt all your business models. Currently, there are many free or paid sales tracking software on the market. However, free software often comes with high-security risks that you need to face.<h2 class="indent-1" style="text-align:justify;">1. Full integration with essential functions</h2>The platform has all the necessary features to serve the needs of users. A sales management system on the phone needs to have essential functions such as reporting via visual charts, analysing statistics, and synchronising with other devices.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/442d51f1-f750-4ba3-9c84-afae2bf8fc6c" alt="Estuary Sales Management Software can be used on computers and phones"><figcaption>Estuary Sales Management Software can be used on computers and phones</figcaption></figure><h2 class="indent-1" style="text-align:justify;">2. Quick and simple implementation</h2>Sales tracking software on the phone also helps managers evaluate sales staff's performance immediately, thereby giving prompts and timely decisions. Modern, eye-catching graphics and intuitive interface are also factors that attract users to utilise this platform.Suppose your company is still using free Excel for sales management in today's technology era. In that case, you will undoubtedly face shortcomings such as technical errors, a low amount of information storage, time-consuming operation, and inadequate security.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/9fca711a-e779-4ad9-ad1c-13b055f0f111" alt="Intuitive figures, eye-catching graphics attract users of the Estuary Sales Management App"><figcaption>Intuitive figures, eye-catching graphics attract users of the Estuary Sales Management App</figcaption></figure><h2 class="indent-1" style="text-align:justify;">3. Large storage, safe security</h2>An accurate information storage system is highly effective in protecting the information of your business. Confidential information is stored in the cloud, so it doesn't take up too much space.In addition, Estuary's sales management platform can also synchronise across different devices. Managers can install software on various platforms, conveniently monitoring subordinates KPIs in remote areas.It's great to read all the information and reports whenever you use Estuary sales tracking software. In addition, the authorisation function helps you give specific permissions for your employees on this system.Security matters are kept safe, and each employee can set their account password. Reports are already done on the software, and you don't need to do manual calculations with traditional tools like Excel. The data is presented on visual charts, making it easy to compare sales by product line, merchandise and salesperson in charge to make appropriate strategies quickly.For more information and to register for a trial of <a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/services/internal-working-system">Estuary Sales Management Software on the mobile application</a>, please contact:Ms Dung Ngo,Head of Business Solution Consulting DepartmentEstuary Joint Stock CompanyTask, Project &amp; Customer Management Software | Customer Service Software | Distributor Management Software | Smart ManufacturingPlatformPhone: <a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/contact?msg=Request+Demo+Internal+Working+System&amp;service_id=3">0986 79 9646</a>Email: dungngo@estuary.solutions or info@estuary.solutions

3 Reasons why you should use sales management software on the mobile app

Why is sales management software on phone apps so popular and widely used today? Not to mention far, the management of remote sales staff is a drive that makes these management apps be trusted and used for all business models.

6 KPIs to help salespeople excelThe following 6 KPIs for sales staff help managers identify and track the prioritization of the most critical data to the business. KPIs help managers track only the most necessary metrics for the company.&nbsp;<h2 style="text-align:justify;">KPI 1: Gross/net profit margin</h2>Gross/net profit margin is an important KPI for the sales team. Because a business's overall business growth depends on the amount of money left over after expenses are paid. What profit margin should the company aim for? According to financial services firm Brex, 5% is generally considered a low margin, with 10% good and 20% high. The target profit margin of a business depends largely on the type and industry of the business. Example: You might run a small-scale, highly profitable business that provides quality service to high-end clients. Or, you could run a low-margin, bulk retailer.&nbsp;<blockquote>Gross profit = Net cost of goods sold and services (COGS).&nbsp;</blockquote>However, gross margin is not as simple as the formula.Not all debits count as expenses. Just as not all credits count as income. This critical distinction is made by excluding certain items from the calculation. Next, use gross profit data to determine net profit, i.e. income after paying certain "operating expenses":&nbsp;<blockquote>Net profit = Gross profit – (Total operating expenses + Tax + Interest + Depreciation + Allocation)&nbsp;</blockquote>Before considering factors such as loan payments and interest rates, your company may be profitable. Also, consider the depreciation tax deduction to determine whether that quarter is a loss or a profit. In addition, administrators should view the number of days of outstanding sales when tracking key sales KPIs. In particular, the time required for customer payments directly affects profitability.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/245d9904-d0d0-405a-9fe6-320e692f7375" alt="Profit is a measure of the company's business growth. "><figcaption>Profit is a measure of the company's business growth.&nbsp;</figcaption></figure>KPI 2: Sales revenue&nbsp;In the KPI table for sales staff, the sales revenue index is indispensable. Revenue may not accurately indicate the overall situation of the business, but it can help managers make a detailed analysis. When managing a sales team, managers need to understand the impact of different marketing activities on revenue.&nbsp;<ul><li style="text-align:justify;">How to increase revenue by 5%?&nbsp;</li><li style="text-align:justify;">How much does the business need to pay for sales and marketing?&nbsp;</li><li style="text-align:justify;">What is the balance between too much and too little advertising?&nbsp;</li></ul>The primary sales revenue formula: Revenue = Selling price per unit x number of units sold. The secret is to chain these formulas together without missing a procedure that the administrator needs to calculate the sales revenue for each price separately. Indeed the business will profit from different sales platforms and retail stores.&nbsp;<h2 style="text-align:justify;">KPI 3: Activity to find potential customers</h2>Motivate the sales team to measure the time, effort, and resources they invest in acquiring new leads and tracking customer phone calls and emails, prospect meetings, product and service demonstrations and any other activity. Sales managers need to build and follow many elements of lead generation activities to use them as KPIs for sales staff. Therefore, the sales team needs to report this information regularly to the manager. Through reports of outliers, sudden or significant changes in statistics help signal growth and decline. Measuring the cost of acquiring new customers is an important KPI for the sales team.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/82e89d45-82c8-401b-8619-cecc7d17c431" alt="Estimating the cost of acquiring new customers is an important KPI for the sales team."><figcaption>Estimating the cost of acquiring new customers is an important KPI for the sales team.</figcaption></figure><h2 style="text-align:justify;">KPI 4: The customer retention index&nbsp;</h2>The customer retention index is also a KPI for sales staff set by many sales leaders. Team leaders can measure the change in the number of customers over a certain period. Subtract the number of "lost customers" (CL – Customer Lost) from the number of "customers gained" (CG – Customer Gained):&nbsp;<blockquote>CG – CL = C&nbsp;</blockquote>Note that this formula may return a negative value. Example: If a business loses 20 customers and gains ten more, the number of customers (ΔC) will change by -10:&nbsp;<blockquote>CG [10] – CL [20] = C [-10].&nbsp;</blockquote>Managers can combine this data with the lead data in the previous section to calculate customer churn. This is one of the most important sales KPIs for evaluating sales performance.&nbsp;<h2>KPI 5: Churn ratio</h2>With this KPI for sales staff, managers can answer the critical question: "Are we attracting more customers than we lose?"It is easier to retain old customers than to attract new ones, as we all know. This KPI will determine whether your sales and customer service teams prioritize customer retention or first-time sales.To calculate customer churn, use the metrics from the previous step. When dealing with numbers, in steps 5 and 6, make sure they all represent the same time.Divide the number of customers (∆C) you lost/gained over some time (∆T - Time) by the total number of customers you served during that period (C - Customer):<blockquote>Customer's Churn = C / T x C</blockquote><figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/ce0276ff-c6ed-4bb7-987e-3ea3a4fe5f5e" alt="Don't forget to measure the rate of customers leaving your business!"><figcaption>Don't forget to measure the rate of customers leaving your business!</figcaption></figure><h2>KPI 6: Annual growth in sales</h2>Managers can calculate year-to-date sales (YTD) growth using the following standard formula:<blockquote>( Vc – Vs ) / Vs x 100 = ∆V%</blockquote>Vc (Volume current): current sales volumeVs (Volume start): initial sales volume∆V%: sales growth indexMost of these formulas only convert decimals to percentages. You only need two data points to calculate your company's annual sales growth.For example, the current sales volume (Vc) is 25,000 customers. At the beginning of the year, there were 20,000 customers (Vs). Using these two numbers, an annual sales growth of 25% can be calculated:<blockquote>( Vc [25,000] – Vs [20,000] ) / Vs [20,000] x 100 = ∆V [25%]</blockquote>Managers can use this formula to determine the percentage change over time and for all types of volumes. For example, it can calculate current sales volume (and a host of other possibilities).Above are some KPIs for sales staff and sales formulas that managers or sales leaders need to pay attention to. Sticking to the sales KPIs of the sales team will help administrators save time, human resources and budget. That will be one of the methods to help managers be aware of what's going on without studying too much into the financial statements.In addition, businesses can also use the Customer Care System on mobile applications (IWS). In addition to storing and tracking customer information, this platform also integrates sales management and KPIs for each employee, helping administrators make timely decisions.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/contact?msg=Request+Demo+Internal+Working+System&amp;service_id=3">REQUEST SOFTWARE DEMO FROM ESTUARY</a>&nbsp;

Increase sales efficiency by building smart KPIs

Setting KPIs for salespeople is a valuable method of measuring the sales team's success. KPIs (Key Performance Indicators) help managers capture the sales team's performance accurately, thereby knowing how the implementation is going.

OKRs stand for Objectives - Key Results, a value measurement system linking internal departments by connecting company goals, departmental and personal goals to specific results.<h2 style="text-align:justify;">1. Structure of OKRs</h2>OKRs are based on two different questions.<ul><li style="text-align:justify;">Objective: Where do I want to go?</li><li style="text-align:justify;">Key Result: How do I get there?</li></ul>The objectives are the goal of the company, department or individual. Meanwhile, Key Results are the measuring steps to achieve the goal. This system is maintained from the top of the organization to each individual, creating a link between the layers of plans that affect each other and help everyone share a common goal.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/b0e8bdbc-af47-4a29-bd86-26e96a2d34a4" alt="OKR stands for Objectives and Key Results"><figcaption>OKR stands for Objectives and Key Results</figcaption></figure><h2 style="text-align:justify;">2. How OKRs work?</h2>What distinguishes OKRs from other management principles is their foundation on the following belief system:<ul><li style="text-align:justify;">Ambition: Objectives are always set above the ability threshold.</li><li style="text-align:justify;">Measurable: Key Results are tied to quantifiable milestones.</li><li style="text-align:justify;">Transparency: All members, from the CEO to the intern, clearly understand the organization's OKRs.</li><li style="text-align:justify;">Performance: OKRs are not used to measure employee performance.</li></ul>Andy Grove developed this unique approach at Intel Corporation; then, John Doer continued to inherit and popularize this method at Google. Today, OKRs are used by thousands of organizations, including Spotify and the US Navy.<h2 style="text-align:justify;">3. Benefits of OKR</h2>OKR will support corporate governance through 6 main benefits.<h3 class="indent-1" style="text-align:justify;">3.1 Tighten internal connections in an organization</h3>OKRs connect individual and departmental performance with the company's overall goals. From there, the management team can make sure everyone is on the same page.<h3 class="indent-1" style="text-align:justify;">3.2 Focus on the essentials</h3>The OKR model will provide 3 - 5 goals for each level in the organization, helping the company and employees prioritize the company's essential goals.<h3 class="indent-1" style="text-align:justify;">3.3 Increase transparency</h3>OKRs build a transparent culture for the company so that employees can understand the work and plans of each individual and department.<h3 class="indent-1" style="text-align:justify;">3.4 Empower employees</h3>Once the company has a clear understanding of the activities in the business, leaders can make accurate decisions and create opportunities for staff to monitor work results.<h3 class="indent-1" style="text-align:justify;">3.5 Measure progress towards goals</h3>Through indicators, OKRs reflect the extent to which individuals, departments, and the company are completing the target.<h3 class="indent-1" style="text-align:justify;">3.6 Achieve outstanding results</h3>OKRs allow managers to reveal their fullest potential at work, helping the corporation achieve impressive results.<h2 style="text-align:justify;">4. How to properly evaluate OKRs?</h2><figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/e29409a1-2f47-4ddc-8340-5bbb588df6dd" alt="OKR Grading Scale"><figcaption>OKR Grading Scale</figcaption></figure>OKRs grading scale ranges from 0.0 to 1.0.0 means you have not achieved any part of the goal. From 0.6 - 0.7 means you are on the right track to complete the plan, and if you get 1 point, congratulations, you have achieved your goal!Non-quantifiable activities such as launching a new website will be scored on a binary scale (0-not complete and 1-complete). Measurable activities such as contacting 10 journalists are achieved as a percentage of completion.0.6 – 0.7 is booming: a lower score means that the organization is not performing well, and a higher score means that OKRs are not set high enough. Adopting a high level of goals may be uncomfortable at first. Still, when applied correctly, it can help organizations achieve outstanding results.Below 0.4 doesn't mean failure: a low score may reflect too high goals or employees are underperforming. Either way, this is good data for employee grading and prioritizing the department's tasks and improving work in the next quarter.<h2 style="text-align:justify;">5. Common OKR mistakes with newbies</h2><ul><li style="text-align:justify;">Use OKRs as a to-do list: Use OKRs to measure value, not perform minor tasks. Therefore, you must understand the differences between Value-based and work-based key results.</li><li style="text-align:justify;">Setting too many OKRs: This error is a common consequence of the first one. Instead of a to-do list, OKRs make a list of your top priorities. OKRs are your definition of what matters. When using value-based vital results, you need to focus on your goals; HR may not remember your OKRs.</li><li style="text-align:justify;">Don't align your OKRs: OKRs are aligned with the whole organization, so you should never set individual OKRs. You have to talk to other teams.</li><li style="text-align:justify;">Set OKRs and forget them: OKRs are not New Year's resolutions. Without regular monitoring, you may not be able to achieve them.</li></ul>Like KPI, OKR is gradually becoming a familiar term for businesses. It is undeniable that OKRs help businesses set scientific, transparent and more effective goals for all employees.<h2 style="text-align:justify;">6. Estuary Task Management Platform - A comprehensive goal management solution for business</h2>An effective goal management system needs to ensure 4 criteria:<ul><li style="text-align:justify;">Consistency and close coherence between personal, departmental and company goals.</li><li style="text-align:justify;">Measure data accurately and be regularly updated.</li><li style="text-align:justify;">Each goal set needs to be owned and committed to completion. The system must be convenient for everyone to follow and easy to discuss.</li><li style="text-align:justify;">Focus on execution instead of just planning.</li></ul><a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/services/internal-working-system">Estuary Task Management Platform</a> is software that meets all four criteria above. It is a powerful tool to help businesses establish and track critical results through visual data that is updated daily. At the same time, it connects managers and employees with the common goals of the company.<figure class="image"><img src="https://api.estuary.solutions/estuary-web-mediafile/file/db3e9905-0d40-4f86-a5a4-ae3202664c65" alt="The monitoring interface of OKR/KPI on the Estuary system"><figcaption>The monitoring interface of OKR/KPI on the Estuary system</figcaption></figure><h3 style="text-align:justify;">What outstanding features does the Estuary Task Management Platform have?</h3><ul><li style="text-align:justify;">Measurability: Qualify employee's performance based on the task list, key results or KPIs that need to be done.</li><li style="text-align:justify;">Continually update the progress of goal completion: When an employee checks in (updating results) on the system, the individual's % of OKR/KPI completion will change. The overall progress of the team, department and business is also automatically updated.</li><li style="text-align:justify;">Evaluate employee's work results in a cycle: When the process ends, the Estuary system will calculate the % of completed OKR/KPI and allow managers to judge and re-score based on reality.</li><li style="text-align:justify;">Strong integration ability: The system easily integrates with other tools such as Email, CRM customer management software, etc. Integration aims to turn the common goal into directly assigned tasks to employees and automatically collect result information (revenue, debt) about the system.</li><li style="text-align:justify;">Automated report generation: The system analyzes and reports target and performance metrics according to visual charts.</li></ul>Estuary Task Management Platform is available on the mobile app, web app, and web page, making it easy to track goals and update results.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://estuary.solutions/contact?msg=Request+Demo+Internal+Working+System&amp;service_id=3">EXPERIENCE THE ESTUARY WORK MANAGEMENT SOLUTION NOW</a>&nbsp;

What are OKRs? 5 Things you must know about Management by Objectives and Key Results

Today, OKRs are applied to thousands of organizations, including Spotify and the US Navy.

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