Insight from informationIntegrated Performance Management in power and utilities |
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Like companies in other industries, power and utility (P&U) companies face challenges and opportunities associated with digitization. Commonly referred to as "smart" technologies, new digital capabilities are allowing companies to collect vast amounts of data on nearly every aspect of their operations, ranging from generation, the power grid, to customer interactions.
Many P&U companies already face common challenges. These often include:
- Reporting and analysis
- Resources
- Processes
- Technology
- Creation and consolidation of global management reports
IPM answers the call
A new robust and deliberate approach is needed to cope with these challenges: Integrated Performance Management (IPM). The IPM framework consists of the following elements:
- Processes used to manage performance
- Budgeting and forecasting
- Financial close and consolidation
- Financial reporting
- Management and operational reporting
- Methodologies
- Executive-level score carding
- Profitability and cost management
- Other approaches to tracking and improving business performance
- Metrics to monitor and analyze performance against goals
- Tools to capture and sustain performance
To learn more read the report attached below.
Insight from information: Integrated Performance Management in power and utilities
(592.40 KB)
