Summary:

A few short years ago BPM was primarily focused on addressing the budgeting and planning needs of the finance department. Today, business performance management has become much more than that. Craig Schiff, President and CEO of BPM Partners writes that BPM is has become the primary front-office strategic decision-making tool. By utilizing business intelligence (BI) tools, BPM converts data from transactional systems into meaningful and actionable information for management decision making.

Financial reporting, particularly management reporting, along with profitability analysis and optimization, has also grown in importance in BPM.

Article Quote:

“Many companies have come to the realization that you really can’t fully understand the business by just looking at the consolidated numbers at the top. You need to examine what is going on, on a daily basis, at the operational level.”

Link: http://www.b-eye-network.com/view/12282

Business performance management will continue to grow and change with business needs. Comprehensive business performance management has become a mission-critical initiative for many companies, while for others, it remains a back-burner item.

Performance technology is yet another tool in the business performance management arsenal. Performance technology software allows users instant access to vital information regarding their strategic plan and day-to-day performance objectives. By regularly monitoring results, management can course correct when necessary while watching for opportunities to present themselves.

For more on business performance management, see http://www.performancesolutionstech.com/category/strategicplanning/