Contract KPIs are a powerful feature for setting up Key Performance Indicators and Service Level Agreements for suppliers to be benchmarked against on key contracts. They can be created and scheduled on a contract record within the system to score and monitor efficiently.
Create a Contract KPI
- Navigate to the SLA Monitoring tab on the relevant Contract Record. This may also be called Performance & Issues, or another title, depending on the customisations of your system.
- Click New in the right hand corner of the Contract KPIs related list.
- Select Draft as the record type for your new KPI. This will allow you to enter and review all relevant details before setting the type to Active and making it ready for scoring.
- Click Next and populate the fields such as category and description. When ready, click Save to return to the Contract Record or click Save & New to add another KPI.
Once saved, your KPI will now appear in the Contract KPIs related list of the SLA Monitoring tab. Clicking the blue hyperlinked reference ID will open up the page and details of that KPI.
When you have reviewed the KPI and are comfortable with the information entered, you can set the KPI to active. To do so, click the arrow icon in the corner of the Record Type field and change the record type to Active.
Scheduling KPIs
Active KPI records can then be scheduled for review and scoring. To do so, click the Schedule button in the top right hand corner of the KPI record. A page will appear requesting you to indicate the frequency and time frame of the review. You should enter after how many months the review takes place (ie. 3 for quarterly) and the end date of the final review period.
Click Save to set the schedule.
Once scheduling is completed, the following system activities take place:
- The KPI record type is set to Active - Scoring automatically
- The KPI record is set to Read Only status, for future reference
- A sequence of records for scorecards are automatically created according to the schedule set and notifications will be issued to the Contract owner when the KPI scoring review is due for completion. Information from the original KPI records are retained to refer to when scoring.
Clicking Unschedule on a KPI record will remove any incomplete scorecards.
KPI Scoring
The Contract Owner, or designated KPI owner if this has been customised in your system, will receive a notification when they need to complete a review and scoring of a KPI. To score a KPI, open up the relevant scorecard for the period and populate the fields in the Actual Score section for the period outlined.
The scoring parameters were entered at the time of KPI set-up and are there for a reference when completing your review.
Once information is entered into these sections and saved, KPI Calculation section will auto-populate the score, band and flag fields based on the score entered.
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