156 Key Performance Indicators (KPIs) For Finance And Accounting

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KPIs for any business should be chosen and monitored relative to specific business goals. These goals are often set by management and permeate throughout the organization (check out our posts on EOS for a helpful goal-setting framework).

The general idea is to work backward from quarterly or annual goals toward KPIs that indicate progress toward those goals. For example, you could have a business objective of $25,000 in new MRR, so the KPI assigned to the product team is “trial-to-paid conversion rate". If they improve this conversion rate, there’s a higher likelihood of hitting the business objective of $25,000.

KPIs can differ by industry, business model, and stage of business, and some KPIs are irrelevant for one business and integral to another.

For example, in our guide to financial KPIs we have listed key performance indicators across a handful of business models:

• Subscription

• Ecommerce

• Professional Service/Agency

• Marketplace

• Manufacturing

• Retail

• Freemium

• Distributor

• Non Profit

These KPIs are listed to stimulate thinking but in no way are all directly related to every business using that business model. Once you’ve identified which KPIs make sense to your team, you need to set goals.