Development of financial KPI’s in a crisis

Abstract

Throughout the 21^st century, Russia has been in a state of crisis with a certain periodicity, starting with the pandemic 2020 and up to the present, the country is also going through a crisis phase. This crisis affects all spheres of human activity, manifests itself not only in a decrease in the purchasing power of the population and the demonstration of savings behavior, but also in a profound transformation of the activities of most Russian companies. Simultaneously with anti-crisis measures, the business faces a difficult task to retain customers. In a crisis, it is important for management to determine which aspects of the company should pay increased attention to, which performance indicators should be monitored especially carefully. In solving these tasks, the KPI system can help, it is related to the strategy of the organization and allows you to comprehensively review the results of activities and determine which aspects should be adjusted in the production process or the provision of services. The foundation of the KPI system, which is closely related to a balanced scorecard, is a financial indicator, so it should be given special attention in a crisis situation. By constantly monitoring the values of the established financial KPI’s, companies can direct the management focus to problems that lead to a decrease in overall performance in time.