My key KPI: Contract value
Welcome to ‘My key KPI’, a weekly content series where we ask CFOs and FDs what metrics and measures they use to drive their businesses forward.
The aim is to understand how different finance professionals, across a broad array of industries and sectors, use data to inform their decision making.
This week, we speak to Andrew Taylor, the new FD of Jumpstart.
Andrew Taylor made the jump from financial controller to FD this February. His appointment as FD of Jumpstart, a R&D tax consultancy, is his first senior finance post, and by all accounts he’s gone straight in at the deep end.
He has been tasked with supporting Jumpstart’s UK-wide growth strategy. Taylor, who qualified with Tenon, served as Financial Controller with Dalmore Capital during a period of significant growth.
It was exciting work, Taylor said, but the FC role is pigeon holed, compared to an FD position. He also understands his mission at Jumpstart: “The company experienced a period of strong growth for the first six years but then the business got to critical mass size and stagnated. Jumpstart’s turnover has stayed level. That’s where I come in, trying to identify areas where we can grow.”
The main metric for Taylor as he tries to get to grips with the business is contract value, specifically the value of contracts in progress. “It’s a quick snapshot of how much business is being brought in by the business development team.
“I’m also focusing on the recurring value of these contracts. We don’t just want one-off clients, we want to encourage relationships.”