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Business Performance IT Solutions

What if you could free your company from manual processes, track business performance faster and increase productivity?

Diamond-Mine is a performance monitoring and reporting tool that was designed and developed for a project-based company to facilitate the management process. The application users have three modules, Working Reports, Invoice Generation, and Performance Reports, at their disposal to obtain information about financial performance of their teams, working on specific projects, as well as their clients. By using the concept of Time-Driven Activity Based Costing and integrating data from Redmine, the software is used to monitor revenue, costs, cash flow and profit margin. This way, managers can track business performance of their company or companies and react immediately when obtained data show any discrepancy between what was expected and what has been achieved.

There are a number of financial performance indicators such as return on assets and return on equity that require examination in comparison with the achievements of size-similar competing enterprises. Another field that needs to be scrutinized is human resource management. Human Resource (HR) managers need to examine the performance of present employees to determine if training is needed to reduce low output, uneven quality, and excessive waste. To have a better insight into employee profiles, managers or consultants can use performance appraisals by which they can evaluate an individual’s work behavior by comparing it with present standards, document the results of the comparison, and use the results to provide feedback to the employee to show where some improvement is needed and why it is expected. In addition, performance appraisals are used to determine the areas of training, choose employees who need such training, and decide on promotion, demotion, retention, or stuff reduction. As the described above examples show, the list of areas in which business performance can be measured is long.

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