Corporate Performance Management Blog: CPM, BOARD, SAP BPC, Tagetik CPM
Corporate Performance Management Blog about corporate performance management and how it can help businesses to execute on their strategy. And about how CPM tools like BOARD CPM, SAP BPC and Tagetik CPM can support the planning and control process.
Alignment: “All pulling in the same direction”
Performance management is all about the successful execution of strategy. We identify four guiding principles to translate strategic directives into an effective performance management cycle. In part I we discussed focus. In this post we want to discuss the second principle which is alignment: all pulling in the same direction.
Focus: "Only Doing What Matters"
Performance management is all about the successful execution of strategy. We identify four guiding principles to translate strategic directives into an effective performance management cycle. The first is focus: only doing what matters.
Read more: Underpinnings of Corporate Performance Management - Part I FocusWe’ve helped many companies with their efforts to improve their financial close, consolidation, and reporting processes. Here are some of the key lessons we’ve learned along the way:1. Break down the process.
It is easy to become overwhelmed with the notion of making improvements to such a complex and dependency-oriented business process when you have to deal with the issues associated with activities such as multiple-tiered...
Read more: How to Drive More Value Through Financial Close and Reporting Improvement
As an opposite to the 'soft side' of performance management, this article emphasizes more the financial/technical side of performance management. The article elaborates on how to close the books in a structured manner. CPMview consultants have done a lot of fast close implementations which helps control, speed up and even automate processes that are currently manual or involve input from people or other systems in your finance department, beyond finance or even from outside organizations.
A primary goal of performance management is getting people within the organization to do what they’re supposed to do. A number of “soft” techniques can help achieve this goal. Strong executive sponsorship. Communication. Training. Change management. But in the end, the key to success is aligning all aspects of performance management with things people can understand and personally control. Alignment is a simple concept, but...
Read more: Organizational Alignment and Accountability
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