Across almost every industry today, organizations are working to implement cultures of continuous improvement and innovation to keep up with growing demands. By engaging every employee in their improvement efforts, companies are able to increase quality, improve safety, save time, and generate revenue. And one of the most effective ways to keep employees engaged is to be able to demonstrate the measurable impact of your improvement efforts.
KaiNexus can help with that!
For example, did you know that one in three Improvements in KaiNexus has a financial impact? 13% of Improvements save money, 2% increase revenue, and 23% save time.
The basic setup of KaiNexus lets you track a LOT of information about each of those impacts, from how great the impact was, when it took place, and even whose time was saved. But we recently created an Advanced ROI add-on that can do even more. Check out the awesome features included in this package:
[To turn on this feature, contact your KaiNexus Customer Experience Lead].
Several of our customers are widespread, with people using different currencies. While the default currency in KaiNexus is the US dollar, with the Advanced ROI add-on, you can configure your organization to use any currency you want!
This lets people in various locations specify which currency they’re using when they report financial impacts and see total impacts for each currency type on the Impact Summary or on the Reports Snapshot.
Improvement work often generates new revenue, but it can be difficult to keep track of where exactly that revenue came from. The Advanced ROI add-on allows you to create a new impact type called “Products” which can be used to record which products are causing a revenue boost and exactly how much their rate of production has changed.
If you’ve been using KaiNexus for awhile, you’re probably familiar with the ability to record cost savings. But “savings” don’t necessarily refer solely to traditional cost savings - it can also refer to any resources that have been saved as the result of an Improvement. The Advanced ROI add-on allows you to create a new impact type called “Resources” which can be used to record how an Improvement impacted the use of various resources and how much this saved the company as an effect.
This data set can also be utilized to keep track of product parts and even to quantitatively measure environmental impact. After all, if you’re saving resources, you’re also saving the resources (such as fuel or energy) needed to create them.
We’re constantly developing how information is captured in KaiNexus. What information would you like to be able to record about the impact of your improvement efforts?