Top 7 Signs Your Organization Needs Enterprise Performance Management

In working with my clients across a wide spectrum of business sizes, industries, and geographies, when it comes to EPM, there are some “buckets” of pain I have found common to them all. Here Enterprise Performance Managementare 7 reasons your organization needs EPM:

  1. More time is spent on assembling the numbers than on analyzing them— all this manual effort makes us inefficient and not very scalable.
  2. People show up to meetings with “their” numbers, and we don’t know how they got those numbers—there is not a lot of confidence.
  3. Some people aren’t getting the reports or analyses we’re sending out— it either gets lost in their email or the right people aren’t on the distribution list (or they’re ignoring it).
  4. There is little alignment across functions (Sales, Marketing, Development, HR).
  5. People aren’t following the prescribed processes, especially for submitting their plans and forecasts—they make different assumptions and interpret what we want differently.
  6. The right people don’t have access
  7. Sometimes the data is just plain wrong— it doesn’t include the latest numbers or it’s an old version, or it’s missing parts.

You can learn more about EPM and how it can help your organization build a common business process to execute its strategy in my book Enterprise Performance Management Done Right: An Operating System for Your Organization (Wiley CIO)

Modern Management System

A modern management system that promotes fact-based decision making, accountability, transparency, and turns your data into a competitive advantage is supported by the four cornerstones of Enterprise Performance Management – brought together by a robust governance framework, process and set of tools.  This is EPM:

epm

Why are my numbers different than yours?

I had a great chat with @toby_hatch of Oracle on why organizations spend more time arguing about where they got their numbers than what actions to take based on their results.

Here’s Toby’s blog entry.And here’s the interview.

 

EPM and BI resources on twitter

Happy 2014!

I wanted to take a minute and share some good EPM and BI resources on twitter that I follow.  Enjoy!

@marcusborba @timoelliott @Ken_Hansen @wjdataguy @ProjectXLtd @BIWisdom @jasprice @jhurwitz

@howarddresner @MadaboutBI #BIWisdom @nenshad @lewandog @shawnrog @FrankBuytendijk

And there are lots more.  Check out @rondimon and see who I follow.  Please feel free to suggest other folks I should follow.

Cheers!

Oracle OpenWorld Radio Interview: EPM Done Right

Here’s an interview about my book by the Oracle Application Users Group, OAUG from Oracle OpenWorld 2013.  Hosted by Lee Kantor and  Stone Payton of BusinessRadioX:

Click here to listen.

This was a lot of fun to do and we hit on the business value of EPM and some hot topics like Data Relationship Management and Governance, how to get started in EPM, and how to ‘bring it all together.’  As we discuss, EPM is not just for CFO and CIO anymore, this interview appeals to any business manager and leader who is responsible for helping execute on company strategic objectives.

OAUG Interview

Choice

I was very happy to be selected as a delegate to the TEDxToronto 2013 Conference being held in September in my original home town.debate

The theme of the conference this year is “The Choices We Make.”  And while the conference presenters may focus on individual choice and social choice, I’ll be participating with my “organizational choice” hat on.  I’m very interested in how companies choose among an infinite number of options and scenarios on how to deploy resources, where to focus assets, and what day-to-day actions to take in order to further their strategic objectives and performance outcomes.

I like to think that nirvana is where a company has implemented a process of rigorous debate, supported by a culture of Read more of this post

SG&A Performance Management

Selling, General & Administrative (SG&A) expense is top of mind for many organizations right now.

Simple SG&A Value Map example

Simple SG&A Value Map example

Everyone in the enterprise has an impact on SG&A expenses.  From your salary, to the office supplies you use, to the travel you take on behalf of the company.  It’s everyone’s job to help maintain and control these expenses.

SG&A spend should be optimized at the “right” level to help deliver on the promises of the organization.  If they are at too low a level, sales revenue will suffer.  At too high a level, Read more of this post

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