Starting a business process management project and choosing the right BPMS system can be a quite tricky thing to do, especially if your organization does not have experience on it. There are several ways to start BPM projects and there are many methods available to choose from. Here are some questions that you can ask…
Before establishing a business process in a complex organization can be successful, we will have to overcome many obstacles. Especially if our intention is to initiate or adopt a BPM solution in a company where there is no BPM culture.
But, what’s the biggest hurdle?
The ultimate success of any commercial business is its ability to generate returns for its shareholders. Achieving healthy and sustained returns requires a deep and broad understanding of customer’ needs and wants and the enterprise capability to turn these into profitable services and products. The easiest way to express this requirement in corporate objectives is through triple crown capability – the ability to increase revenues, reduce costs and enhance service simultaneously.
In my last article I argued the case for an EPM framework that would provide a clear definition of what EPM is and how to identify systems that support it. The reason is that for many, EPM has become synonymous with planning and reporting, and while these are some of the capabilities of an EPM solution, unless their implementation is linked to strategic goals and driven through continuous management processes, the result will fall far short of what is actually required.
In this article I’m going to outline the components of an EPM Framework.
Imagine for a moment that the only way you could have a car was to buy the individual components from one or more manufacturers. Suppliers would be selling the power of their engines, dashboard vendors would ‘wow’ you with their fancy dials and gauges, while those supplying the control mechanisms would impress you on the benefits of using the latest technology. As it would be up to you to put it all together, integration would be a key requirement for those with previous ‘car-building’ experience.
The traditional way of measuring value and business performance of a company is changing. For an increasing number of stakeholders, financial statements and balance sheet information just isn’t enough. Emphasis is now on sustainability, especially related to reputational risk and corporate image. A sustainability incident, like discovering child labor in the global supply chain, can be extremely harmful to brand value and thus revenue and profits.
To: CFO Research Services From: Senior finance executives Date: Fall 2011 Re: Growth prospects Dear CFO Research Services: You may think from our recent response to your survey questionnaire, entitled “Strategies for Better Business Insight,” that we see bright growth prospects ahead. You’d be wrong. The real picture is more complicated. Although a majority…
All too often, finance departments face the same challenges at the end of every reporting period—whether it’s monthend, quarter-end, or year-end. The department must prepare financial reports and statements such as balance sheets, cash flow statements, income statements, and increasingly, management reports, as well as provide information about key performance indicators. On top of that,…
So you’re looking for a system that can help you improve your ability to execute strategy.You’ve been using a spreadsheet for many years to budget and although it is infinitely flexible, you are worried about the integrity of the data and the fact that no one quite knows how the macros and VB scripts work. Oh, and you never seem to have adequate data to make ‘real-world’ decisions.
In the “Preface” to The Gathering Storm, volume I of Winston Churchill’s World War II memoirs, Churchill writes that when President Roosevelt asked for suggestions about what the war should be called, he replied that it should be called “the Unnecessary War.” If someone asked me what to call budgeting I’d say it’s “the Unnecessary Practice.”