Enterprise Performance Management Best Practices
Companies vary widely in the value that they derive from enterprise performance management (EPM) implementations. In its work with major corporations around the world, The Hackett Group has identified a range of enterprise performance management best practices that help top-performing companies drive the greatest ROI from their EPM deployments. Examples of proven best practices for enterprise performance management include:
- Move transactional enterprise performance management activities such as standard reporting to shared services or global business services organizations to reduce costs and to free the finance function to focus on higher value tasks.
- Migrate enterprise performance reporting to a central data repository, to ensure that managers are making decisions based on consistent data.
- Employ a fully integrated planning cycle that directly links annual budget targets to mid- and long-term strategic goals.
- Rationalize the level of detail in budgets and forecasts, focusing on the most volatile and consequential line items and eliminating superfluous items.
- Rationalize the number of enterprise performance reports and business views, eliminating redundancy and reports with minimal relevance.
- Shift business analysis away from backward-looking reporting toward forward-looking decision support.
By employing practices such as these, world-class companies have been able to simultaneously reduce costs and drive greater business value from their enterprise performance management implementations.
Get More Value from Your Enterprise Performance Management Implementation
As a leading global strategy and operations consulting firm with unmatched expertise in best practices implementation, The Hackett Group can help you maximize your return on a planned or existing enterprise performance management deployment. We provide our clients a unique combination of technological know-how, particularly with Oracle/Hyperion and SAP/BusinessObjects EPM implementations; deep experience with all facets of business process improvement including process benchmarking and business process reengineering; and functional expertise across all back-office functions including finance, HR, procurement, and IT. Our veteran consultants will work with you to apply world-class practices to your enterprise performance management implementation, putting in place an optimized EPM system that will help drive operational excellence across your enterprise.
Our enterprise performance management consulting, like all of our consulting and advisory services, is informed by our acclaimed benchmarking and best practices database which captures the insights gained through our work with nearly 3,500 of the world’s leading companies. Drawing from this intellectual capital and from years of hands-on experience, The Hackett Group provides fact-based advice that drives measurable performance gains for our clients.
To learn more about our consulting and advisory services, including our solutions for back-office cost optimization, human resources challenges such as HR strategy development, technology deployments such as Oracle or SAP implementation and more, contact us.