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Global Executives Predict a Performance State of Mind for Organizations Looking to Profit and Prosper

    Online News published in DMReview.com
November 29, 2005

Business Objects, a world-leading provider of business intelligence (BI) solutions,  announced the results of a BusinessWeek Research Services Study that concludes enterprise performance management (EPM) is the de facto method for evaluating and executing corporate strategy for organizational success. The forecasting survey of more than 50 Global 1000 executives gauges the current momentum of enterprise performance management in the world's largest organizations and determines where top executives feel EPM will be headed next. The study asserts that EPM will make performance management personal and pervasive by revealing clearly how every individual in an organization contributes to the top and bottom line.

"Performance management answers the simple questions first - like how is my organization performing today," said Rene Bonvanie, chief marketing officer at Business Objects. "Business intelligence puts key performance indicators and analytics at the fingertips of those who make decisions that make proactive and predictive business management a reality. The BusinessWeek Research Services Study confirms what Business Objects has always believed - that EPM gives organizations the power to manage and improve organizational performance, from the factory floor to the executive suite. And top executives from around the world are looking forward with astute predictions on where EPM is headed next and how their organizations will benefit."

The BusinessWeek Research Services Study questioned 50 executives in-depth on their expectations for performance management strategy and techniques over the next 5 to 10 years. The study narrowed the results to five over-arching predictions for the role EPM will play in guiding corporate strategy in the coming years. The five predictions were distilled from the thoughts and ideas of executives from the world's leading corporations and are as follows:

EPM Will Enable Best Practices

The idea of EPM is to improve the quality of strategic choices at every level of the company. To enable best practices, respondents surveyed feel that giving individuals the ability to see their relationship to performance improvement, to collaborate on actions to attain desired goals, and capture progress over time, is the fastest and most efficient way to document best practices.

EPM Will Standardize Performance Measurement

Many respondents expect that EPM will help them define the contribution of every role in the organization, and thereby, create a culture of accountability. Doing so will allow for thorough, consistent measurement of the key metrics that lead to optimized performance. Respondents to the BusinessWeek Research Services Study believe EPM strategy has become a must-have component for driving change and enforcing consistency and discipline in measurement.

EPM Will Connect Human Resources with Corporate Strategy

EPM should help motivate employees to understand exactly what is expected of them, and the consequences should they fail to deliver. EPM means that profit and loss responsibility will be measured down to the individual level and that more efficiency will be squeezed out of operations.

EPM Will Accelerate Informed Decision Making

Performance management begins and ends with people. EPM is all about getting the right information, to the right people at the right time, in a way that allows for positive changes to be made. When an EPM strategy is in place, respondents say it will be easier to see the long-term damage caused by thinking in the short-term. Over the long term, EPM allows clarity of strategy and direction when mapped back to daily, weekly, and quarterly activity.

EPM Will Change the Way CEOs Think of Strategy

Respondents in general say the long-term goal with performance management is that CEOs will make strategy formulation a bottom-up exercise where all employees are not only encouraged, but required to participate. Overall, EPM is rapidly changing how managers are thinking of performance. Once exposed to EPM, CEOs should no longer manage just to per-share earnings, but also to metrics. The key will be to get all senior management to buy in to EPM and get to a performance state of mind.

The overall message of the BusinessWeek Research Services Study interviews is that organizations around the world are adopting performance management strategies, and performance is everyone's business. It is personal, and now with EPM, it is transparent. Business Objects offers leading business intelligence products to build and support an EPM strategy - from planning and forecasting, to analytics, dashboards, and scorecards. Organizations who have embraced performance management holistically have an opportunity to reap great benefits for the organization.

For more information on the BusinessWeek Research Services Study, please link to the following white paper, "The Global Advancement of Performance Management: Issues and Trends," at www.businessobjects.com/businessweek. The BusinessWeek Research Services Study was sponsored by Business Objects and respondents were contacted by members of BusinessWeek Research Services Study, who conducted the project.

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For more information on related topics visit the following related portals...
Corporate Performance Management.

This piece has been brought to you by the DM Review Editorial staff.



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