Emerging Priorities in Business Performance Management
During the financial crisis, businesses shifted their priorities for business performance management (BPM), according to analysis by The Hackett Group®. Faced with resource constraints and marketplace uncertainty, leading companies have worked to optimize their business performance management implementations and increase value realization from them. Examples of emerging business performance management priorities include:
- Expand the range of economic goals for BPM. Leading companies are looking beyond the traditional efficiency/productivity focus and leveraging their business performance management systems toward other measurable economic values such as cash and working capital; product, channel, and customer profitability; vendor and category spend; and margin performance.
- Share BPM knowledge across the enterprise. Often business performance management systems are implemented and utilized differently across business and functional units within an enterprise. Some companies are recognizing the great opportunity for learning and improvement by breaking down the silo mentality and sharing hard-earned BPM insights across the enterprise.
- Develop better BPM support structures. In an effort to support their business performance management systems in a cost effective manner and to maximize the value realized from such systems, some leading companies are turning to new organizational models such as centers of excellence.
- Standardize enterprise-critical data. Failure to reconcile data definition discrepancies across different units of the enterprise is one of the major reasons that some companies get less value than they could from their business performance management systems. When certain data is important to answering enterprise-wide performance questions, it’s essential that the data be standardized across all business and functional units.
Across these and other emerging business performance management priorities, the common questions that companies must grapple with are: Is our BPM support model the most efficient and effective alternative for our organization? Does our BPM implementation align with leading practices? If not, what is the potential for improvement?
Maximize your ROI on business performance management
As a leading global strategy and operations consulting firm, The Hackett Group can help you maximize your return on a planned or existing business performance management deployment. With our deep experience and expertise in business benchmarking, operations and technology best practices, and change management, The Hackett Group is also the ideal partner for implementing a new business performance management system or driving greater efficiency and effectiveness in an existing one. The Hackett Group offers particular expertise in applying proven best practices to Oracle/Hyperion and SAP/BusinessObjects deployments.
The Hackett Group’s consulting and advisory services are based on proven results attained in our work with nearly 8,800 of the world’s leading corporations, including 97% of the Dow Jones Industrials, 93% of the Fortune 100, 73% of the DAX 40 and 52% of the FTSE 100. We provide our clients a wide range of fact-based consulting services that deliver measurable results, including consulting for IT costs control and other forms of cost reduction; procurement and supply chain consulting; cash flow analysis; and much more.
To learn more about The Hackett Group’s services for business performance management and more, contact us.