Nowadays service sector is becoming more and more relevant in building successful collaborative economies. In this environment Virtual Enterprises (VEs) are forcing a change in the way traditional manufacturing systems are managed. Therefore measuring service performances plays an important role in turning company strategic goals into reality. Performance Indicators (PIs) consist in a supporting tool to assess service efficiency and effectiveness. Consequently, determining the most significant activities which need to be controlled and measured through proper PIs becomes essential. Within this paper, a PI Toolset is going to be presented and tested through industrial use case. The PI Toolset has been developed to support VEs in selecting significant activities, to manage governance processes and to support the design and implementation of specific PIs related to the precise use case objectives. Finally, a lesson learnt approach has been adopted so to stress strengths and weaknesses of both proposed methodology and tools.