At YÄRKEN, we understand that the value of IT investments extends beyond financial metrics. That's why we're excited to announce our new feature: Companion Metrics. This innovative feature allows you to measure non-financial data and display it alongside financial metrics, providing a more comprehensive view of the business impact of your IT investments.
What are Companion Metrics?
Companion Metrics are a new way to measure the success of your IT investments. While financial metrics provide important insights into the cost-effectiveness of an investment, they don't always tell the whole story. Companion Metrics allow you to track non-financial indicators that can provide a more complete picture of the impact of your IT initiatives ensuring IT Business alignment.
How do Companion Metrics Work?
With Companion Metrics, you can track a variety of non-financial data points related to your IT investments. These metrics are displayed alongside your financial data, providing a side-by-side comparison of cost and impact.
For example, let's say you've made an investment to improve the login experience for a mobile app. While you could measure the success of this investment in terms of cost savings or increased efficiency, these financial metrics might not fully capture the impact of the investment on user experience or customer satisfaction ratings.
With Companion Metrics, you can track metrics like app store ratings or the rate of successful logins. These metrics can provide valuable insights into the effectiveness of the investment in improving user experience. By displaying these metrics alongside your financial data, you can see at a glance how the investment is impacting both your bottom line and your user experience. This is an easy way to see the impact a project is delivering to the organisation.
Why Use Companion Metrics?
Companion Metrics offer several key benefits:
- Comprehensive View of Impact: By tracking non-financial metrics alongside financial data, you can get a more comprehensive view of the impact of your IT investments and projects.
- Improved Decision-Making: With a more complete picture of the impact of your IT initiatives, you can make more informed decisions about current and future investments.
- Enhanced Communication: Companion Metrics can help you communicate the value of IT investments to stakeholders who may be more interested in non-financial outcomes.
- Greater Flexibility: With the ability to track a variety of non-financial metrics, you can customize your measurement approach to fit the unique needs and goals of your organization.
We're excited to offer Companion Metrics as a new feature on the YäRKEN platform. By providing a more comprehensive view of the impact of IT investments, we believe this feature will help our customers make more informed decisions and communicate the value of IT more effectively. We look forward to hearing your feedback and seeing how you use Companion Metrics to measure the impact of your IT initiatives.