With the implementation of an Integrated Performance Management (IPM), banks are building the capability to deliver their strategy and therefore gain competitive advantage. The key is to unlock effectiveness of IPM by developing an understanding of the relevant value drivers and translating these into metrics to monitor and reward performance.
Deloitte’s well-proven IPM solution helps banks to apply a holistic approach to performance management. Deloitte IPM supports your strategy and promotes a dynamic response to change. Main steps in the integrated operational IPM cycle are:
Deloitte’s project experience suggests that introduction of a truly sustainable IPM is based on various key elements; guiding principles have to be developed collaboratively between Deloitte and the client. Based on these, the IPM strategy can be formulated and targets can be set. Measurement has to be defined and implemented to enable a basis for action-taking. Moreover, the private bank’s available resources must be taken into consideration, including people and organisation, technology architecture and information platform(s). They are the basis of IPM effectiveness and efficiency.