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!

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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

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

The Total Cost of Ownership (TCO) of Enterprise Performance Management (EPM)

moneyHere are some of the ingredients to consider when developing your ROI for EPM:

  • Cost to build or acquire the system (hardware, software, network costs)
  • Don’t forget the ancillary costs to the above (e.g., a system may require an add-on license for a relational database management system [RDBMS] or middleware)
  • Cost of capital
  • Cost to operate, maintain, and upgrade
  • Training costs (administrators and users) Read more of this post

8 Principles of Enterprise Performance Management

This is a list of what most of my clients tell me they want.  I propose that this list is exactly what EPM delivers.

So unless I hear otherwise, these are the 8 principles of enterprise performance management:

  1. We have a lot of data, we’re getting more every minute, and we want to use it to compete better;8 robots
  2. To use all that data, we want to gather it and transform it so that it makes sense;
  3. We want new insights into our business, based on the facts gleaned from the data;
  4. We want to know what levels of performance are possible in our industry, for our business, in the future; Read more of this post

CFO and CIO join forces to serve “The Business”

Organizations that have implemented Performance Management more broadly are nearly four times more likely to be among the most competitive organizations in their industry.

—Brian McDonough, Research Manager, Analytics and Data Warehousing Software, IDC, Financial Performance and Strategy Management Survey of Buyer Priorities for 2011, Doc #226261, Dec. 2010

Harvard Business Review advocates that business and IT shouldn’t just be aligned, they should be ‘‘forged together.’’  (David M. Upton and Bradley R. Staats, ‘‘Radically Simple IT,’’ Harvard Business Review, March 2008.)  One way HBR says you can do this is by having the CIO report directly to the CEO or COO, not the CFO. While I have seen this reporting structure in many of our client organizations, it does not automatically mean that IT and the business are forged together, or even aligned for that matter. Certainly the business analyst (BA) role has done much for crossing the chasm, in both directions, for IT and the business. And where I see the most successful financial systems implementations are where there the finance/information systems (IS) role acts as the BA. But this is still not a guarantee for a meeting of the minds between business and IT.

2 way arrows

Photo © Ruth Dimon, 2013

I propose five ‘‘better’’ practices for closer IT/business alignment based on my client engagements over the last 30 years: Read more of this post

Answering Business Questions

Photo © Ruth Dimon, 2013

Photo © Ruth Dimon, 2013

Businesses have a ton of information.  The usual starting place for trying to understand all that information is a desire to answer a business question.
There are, at least, four foundational questions:

  1. Where are we right now compared to where we said we would be?
  2. Why did we get what we got? What happened to give us those results?
  3. What do we want to happen? What is possible in our industry, in this economy? And what’s next?
  4. How will we get it done?Who will do what, and by when?

These questions help us align our strategy, objectives, and initiatives with our intended results. They help challenge our objectives and help generate and reveal our assumptions, constraints, and value drivers. The answers to these questions should Read more of this post

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