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Performance Management Technology

Finding the right frame


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The best finance organizations aren’t necessarily the ones that can pull data together faster and more efficiently. Rather, they’re the ones who know exactly what they really need to measure and have an infrastructure in place to deliver the right insight when it counts. That’s where performance management technology can make a difference.

At its core, performance management isn’t a technology issue. It’s a business issue. And that’s exactly the approach we take, bringing practitioners who possess industry-specific insight and deep experience delivering large-scale, global technology deployments. No matter where you are in the life cycle of integrated performance management, we can help. Learn more about the offering.

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It’s all about context
Despite massive investments in enterprise resource planning, customer relationship management and other enterprise systems, many companies still don’t have the information they need to make good business decisions. That’s a problem that usually lands at the feet of the CFO who is on the hook to help the C-suite better understand and plan around opportunities to improve profitability, cost management and performance.

While the finance function has made huge strides in delivering strategic value to the business, in many cases it still relies on spreadsheets and manual processes to perform planning, budgeting and forecasting tasks – not to mention financial consolidation and reporting processes. In that environment, there's no way finance leaders are able to gather, analyze and act on information to deliver high-value strategic insights.

This approach makes it hard for finance leaders to provide the level of context and perspective that the organization demands from them. It’s one thing to collect historical and current data – but context is the key to using that data to inform your understanding of future trends.

How we can help

At its core, performance management isn’t a technology issue. It’s a business issue. And that’s exactly the approach we take, bringing practitioners who possess industry-specific insight and deep experience delivering large-scale, global technology deployments. No matter where you are in the life cycle of integrated performance management, we can help.

Plus, when it’s time to bring in the technology, we have the ability to deliver the full suite of performance management solutions as well as stand-alone process implementations. As a result, we have been recognized year after year as the solution integrator of choice by leading providers such as IBM, Oracle and SAP.

Here are some of the areas where we can help with performance management:

  • Financial performance management
  • Budgeting, forecasting and business planning
  • Performance dashboards
  • Profitability & cost analytics
  • Management reporting and analysis
  • Financial consolidation

Bottom-line benefits

  • Provide relevant, timely and consistent information to decision makers
  • Go beyond improving the efficiency of performance management processes to drive value through budgeting, planning and forecasting, financial consolidation and reporting
  • Provide better alignment of investments and initiatives to the organization’s strategic and business goals; also provides a feedback loop to measure progress and make corrections as needed
  • Achieve greater transparency and better linkage between the information needed to run the business (internal management reporting) and the information provided to external stakeholders (external management reporting)
  • Manage risk and improve compliance and control
  • Leverage investments in enterprise resource planning, customer relationship management and other data-rich initiatives to provide a steady stream of high-value information to decision makers
  • Build the foundation for predictive analytics

Five ways to get more value now

We’ve worked with some of the leading companies in the world to improve their performance management capabilities. Here are a few things we’ve learned along the way:

Start with strategy. The traditional approach to planning, budgeting and forecasting relies heavily on individual input and gut feel – and the results are often out of sync with what is actually happening in the business. Effective performance management starts with linking the enterprise business strategy to key business drivers, which should help produce consistent action and measurement across the organization.

Use integrated processes to serve multiple stakeholders. Many companies handle external reporting and internal management reporting as two separate activities. This often leads to conflicting information and needless duplication of effort. Internal and external reporting should be managed as a single integrated process that tailors its output to meet the needs of two different stakeholders.

Set priorities. Most companies suffer from too many reports that deliver too little insight. Think about what information is truly needed and who needs it, then design your reports accordingly. Don’t be afraid to phase out reports that provide little value or insight. Such reports often create more problems than they solve.

Manage change. Performance management information should be used by decision makers throughout the business. That widespread impact can both help and hinder an organization – creating resistance that can easily undermine the overall effort. Involve key stakeholders early and often to get their insight and establish a sense of ownership.

Take it one step at a time. An integrated performance management framework includes many processes in areas ranging from information management and performance improvement to business analytics. You don’t have to achieve process excellence in each area to deliver value. It’s more important to determine what your organization needs most and then plan accordingly, one step at a time.

Performance Management Technology in action

  • A financial services company needed to make investment and management decisions more effectively while maintaining its ability to set realistic external expectations. We helped the company implement leading practices in planning, forecasting and reporting, putting it on equal footing with its top peers. As a result, the company saw better performance and increased efficiency in target setting, annual planning and monthly forecasting. At the same time, this initiative continues to reach its objectives on time, in keeping with the goals established by its steering committee.
  • When a producer and marketer of wine and alcoholic beverages needed to enhance and reengineer some components of its financial planning and reporting solution, we helped increase the level of automation and standardization related to the balance sheet, cash flow and consolidation components for forecasting and annual planning. We also developed an innovative, flexible design and project plan for reengineering the strategic planning process in a way that meets internal requirements and is more attractive to end users.
  • An energy company with a history of successful acquisitions wanted to improve its financial reporting processes and provide better visibility for management reporting. We helped the company implement technology that will support its full financial performance process, including financial consolidation, forecasting, budgeting and management reporting. Today the company is benefiting from better visibility into financial results, increased security and better controls for the consolidation process to support future acquisitions.

As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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