Dear pryty11,
There appear to be serious misgivings on the concepts of KPIs. Anyway replies to your questions are given in
italics:
Would small institutions benefit from KPI?
Yes, surely. Small or big every business must measure their performance.
Which companies provide KPI Services?
No need to depend on "company" as such. There are consultants who will establish complete PMS for you which includes this humble member of this forum too.
What should be the ideal budget for KPI?
This where you have misgivings about KPI. There is no specific budget for the KPIs. Performance Management System (PMS) is a process. This process demands support from top management, training to all the staffs on PMS, developing capability to establish KPIs specific to the business, focus to the KPIs on cost measurement etc. Next comes the execution of the process. Managers should be sensitized on the smooth execution of the process and it should not be dismissed as HR's baby.
Final comments: - I recommend you going through my replies to the past posts on how to establish PMS in the company. In the link, you will find further hyperlinks. Go through all the links patiently and you will familiarise with the concept:
https://www.citehr.com/511936-pms-company.html
Thanks,
Dinesh V Divekar