Business Intelligence Consulting: Luminent

BUSINESS PERFORMANCE MANAGEMENT (BPM) SOLUTIONS

Business Performance Management is a fast emerging sector and is becoming ever more important in today's tough business environment, but what does it mean?

 

Formally, BPM encompasses the following components;

 

  • Budgeting, Forecasting & Planning
  • Strategy & Performance Measurement (Financial Dashboards and Balanced Scorecards)
  • Cost & Profitability Analysis (Activity Based Costing)
  • Financial Consolidation & Reporting

 business performance management

 

The world of Business Performance Management can be confusing, with each of the vendors calling the technology a different name (EPM, CPM, FPM) and focusing only on the benefits that their solution provides. As experts in the field we are perfectly placed to ensure that you have a BPM Strategy that best fits your organisation, we can plan and manage your project from start to completion and guide you through the process of vendor and developer selection.

 

BENEFITS OF BUSINESS PERFORMANCE MANAGEMENT

Business Performance Management offers a variety of benefits to organisations but essentially each of the 4 components enable processes and procedures to be mapped and controlled by programmed applications that are configured to each organisation or department. These projects often migrate manual, error prone and labour intensive processes and build the intelligence into world leading software solutions, enabling human resources to focus on analysis and interpretation of the data, with the ultimate goal of profit maximisation through revenue improvements or cost control.

 

BUDGETING, FORECASTING AND PLANNING

  • Time and Cost saving of resource usage developing the Budgets
  • Process modelling, automation, workflow and hierarchies create a controlled and secure environment
  • Better decision making through improved transparency
  • Faster and more accurate analytical capability
  • Enablement of quicker and more frequent budgeting cycles
  • Accountability and Auditability
  • Scenario and ‘What if’ modelling enabled

 

COST AND PROFITABILITY ANALYSIS

  • Clearer understanding on usage of internal Corporate Services resources
  • Identification of most profitable customers, products, channels, locations etc.
  • Capability and transparency to understand why these are profitable
  • Enable implementation of profit focused strategies and directives

 

STRATEGY AND PERFORMANCE MEASUREMENT

  • Company wide measurement of business performance
  • Alignment of strategy with operations
  • Company-wide transparency of corporate strategy and performance
  • Metric ownership and automated communication
  • Process automation enable quicker information turnaround
  • Visibility of Strategy Maps

 

FINANCIAL CONSOLIDATION AND REPORTING

  • Automation of period close
  • Faster Financial reporting cycle
  • Controlled, secure and auditable environment
  • Improved transparency and integrity of financial data
  • Automated alternate reporting hierarchies (SOX, IFRS, GAAP)