What Should be Tracked in a License Program? - Specific Types

Posted by Tim - 14 December, 2016

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“What we have is a data glut.” - Vernor Vinge

Determining the key measurements to be tracked in a license program is an essential component of measuring the progress an organization is making towards accomplishing the objectives defined in the strategic plan.   The development of SMART goals will include a key result indicator (KRI) which is measured by various key performance indicators (KPIs).  Goals seek to improve how an organization is performing in various dimensions which support the overall mission and vision of the organization.  Selecting the best measurements to be tracked can be overwhelming given the vast amounts of data that can be collected in a license tracking software.  Deciding upon the handful of KPIs that support a given KRI requires discipline and focus.  This article will define the main types of KPIs and provide a few specific examples to help you clearly define, “What Should be Tracked in a License Program?"

Key Performance Indicator Types

Quantitative Indicator - 

  • can be presented with a number.

Qualitative Indicators

  • cannot be presented as a number.

Leading Indicators

  • can predict the outcome of a process

Lagging Indicators

  • present the success or failure post hoc

Process Indicators

  • represent the efficiency or the productivity of the process

Input Indicators

  • measure resources consumed during the generation of the outcome

Output Indicators

  • reflect the outcome or results of the process activities

Financial Indicators

  • used when looking at an operating index

Output Indicators

  • reflect the outcome or results of the process activities

Directional Indicators

  • specify whether or not an organization is getting better.

License Program Specific Examples 

Total Number of Applications Received

  • The total number of all license applications received indicates the volume of work required by staff for initial review and processing.

Total Number of Licenses Issued

  • The total number of business licenses issued indicates the number of new businesses allowed to operate in the municipality.

Total Number of Renewals Issued

  • The total number of business licenses renewed indicates the number of businesses continuing to operate in the municipality.

Total Number of Licenses Expired

  • The total number of business licenses expired indicates the number of business no longer operating in the municipality.

Total License Revenue

  • The total application and renewal revenue aggregates the dollar amount a municipality brings in from business licenses.

 “Things don’t have to change the world to be important.” - Steve Jobs

Now that you are familiar with the various types of KPIs and have been exposed to some specific examples, you are now ready to do the work of selecting the measurements that support your goals.  Many organizations have found that an investment in technology such as license tracking software is essential to automating the collection of data such as online applications, payments and license documents.  Having a software reporting system in place which can easily translate the collected data into useful measures and metrics will result in high levels of effectiveness and efficiency.  MyGov would enjoy the opportunity to learn more about you and help you to implement a solution for “What Should be Tracked in a License Program."

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Topics: Credential Manager


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