We recently issued our 2012 Value Index on Financial Performance Management (FPM). Ventana Research defines FPM as the process of addressing the often overlapping people, process, information and technology issues that affect how well finance organizations operate and support the activities of the rest of their organization. FPM deals with the full cycle of finance department activities, which includes planning and budgeting, analysis, assessment and review, closing and consolidation, internal...
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Topics:
Mobile,
Planning,
Predictive Analytics,
Office of Finance,
Budgeting,
closing,
Consolidation,
contingency planning,
Analytics,
Business Analytics,
Business Performance Management (BPM),
CFO,
Financial Performance Management (FPM),
Value Index,
Financial Performance Management
One of the most important trends in business over the past 20 years has been the broadening use of information technology to manage and support activities. In the early decades of business computing, companies developed islands of automation for largely numeric functions such as billing, inventory management and accounting. Each ran on a proprietary system and engaged the time of a relative handful of employees. Today, just about everyone works with an IT system for at least some of their...
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Topics:
Big Data,
Performance Management,
Predictive Analytics,
Customer Experience,
Governance,
GRC,
Operational Performance Management (OPM),
Management,
Analytics,
Business Intelligence,
Governance, Risk & Compliance (GRC),
Business Performance Management (BPM),
compliance,
finance,
Financial Performance Management (FPM),
IT Performance Management (ITPM),
Risk,
financial risk management,
IT Risk Management
Risk has always been an integral part of business, but our recent Governance, Risk and Compliance (GRC) benchmark research shows that companies deal with risk with varying degrees of effectiveness – especially operational risk. A majority of companies lag in their overall GRC maturity, as I covered in a recent blog post. Operational risk management should be of greater interest to executives today because they can have greater control of it than before. The expansion of IT systems to automate...
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Topics:
Big Data,
Performance Management,
Predictive Analytics,
Customer Experience,
Governance,
GRC,
Operational Performance Management (OPM),
Management,
Analytics,
Business Analytics,
Business Collaboration,
Business Intelligence,
Governance, Risk & Compliance (GRC),
Operational Intelligence,
Business Performance Management (BPM),
compliance,
Customer Performance Management (CPM),
finance,
Financial Performance Management (FPM),
Information Applications (IA),
Information Management (IM),
IT Performance Management (ITPM),
Risk,
Sales Performance Management (SPM),
Supply Chain Performance Management (SCPM),
Workforce Performance Management (WPM),
financial risk management
Our benchmark research on business analytics finds that just 13 percent of companies overall and 11 percent of finance departments use predictive analytics. I think advanced analytics – especially predictive analytics – should play a larger role in managing organizations. Making it easier to create and consume advanced analytics would help organizations broaden their integration in business planning and execution. This was one of the points that SPSS, an IBM subsidiary that provides analytics,...
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Topics:
Big Data,
Performance Management,
Planning,
Predictive Analytics,
Marketing,
Modeling,
Sales Forecasting,
Analytics,
IBM,
Uncategorized,
SPSS
I recently spoke with Oversight Systems, an operational intelligence analytics company that uses predictive analytics and optimization to help companies save money, reduce the risk of loss and fraud, and reinforce corporate governance and compliance efforts. Ventana Research views operational intelligence as an emerging technology with the potential for a high return on investment. By continuously monitoring activities in a company’s IT systems, Oversight’s Web-based software continuously,...
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Topics:
Big Data,
Predictive Analytics,
Fraud,
Governance,
GRC,
Office of Finance,
Operational Performance Management (OPM),
audit,
Analytics,
Business Analytics,
Cloud Computing,
Governance, Risk & Compliance (GRC),
Operational Intelligence,
Business Performance Management (BPM),
Financial Performance Management (FPM),
Information Management (IM),
Sales Performance Management (SPM),
Supply Chain Performance Management (SCPM),
controls,
Oversight Systems
My colleague Mark Smith and I recently chatted with executives of Tidemark, a company in the early stages of providing business analytics for decision-makers. It has a roster of experienced executive talent and solid financial backing. There’s a strategic link with Workday that reflects a common background at the operational and investor levels. As it gets rolling, Tidemark is targeting large and very companies as customers for its cloud-based system for analyzing data. It can automate alerts...
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Topics:
Big Data,
Data Warehousing,
Master Data Management,
Performance Management,
Planning,
Predictive Analytics,
GRC,
Operational Performance Management (OPM),
Budgeting,
Risk Analytics,
Analytics,
Business Analytics,
Business Collaboration,
Business Intelligence,
Business Mobility,
Cloud Computing,
Data Governance,
Data Integration,
In-Memory Computing,
Information Management,
Mobility,
Business Performance Management (BPM),
Customer Performance Management (CPM),
Financial Performance Management (FPM),
Risk,
Sales Performance Management (SPM),
Workday,
Workforce Performance Management (WPM),
Financial Performance Management,
Integrated Business Planning,
Strata+Hadoop
At its annual Influencer’s Summit in Boston, SAP offered multiple perspectives on where the company’s strategy and products are heading. Overall, I was struck by the essential similarities to its message on its strategic direction a decade ago. The overarching objective in its roadmap now, as then, is to have information technology increasingly adapt to the needs of individual users and how they choose to execute established/repetitive or ad-hoc processes, rather than forcing them to adapt to...
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Topics:
Performance Management,
Planning,
Predictive Analytics,
SAP,
ERP,
GRC,
Office of Finance,
Operational Performance Management (OPM),
Business Analytics,
Business Collaboration,
Business Mobility,
Cloud Computing,
Enterprise Software,
In-memory,
Mobility,
Business Performance Management (BPM),
finance,
Financial Performance Management (FPM),
Risk,
Sales Performance Management (SPM),
Supply Chain Performance Management (SCPM),
Workforce Performance Management (WPM),
Financial Performance Management
Our recently completed benchmark research on how finance departments use analytics makes clear that while they have a distinct competence in this area and execute the basics well, a majority of companies are immature in their use of advanced finance analytics. Regardless of industry or geography, few finance departments use predictive analytics or delve into important areas such as strategic profitability management. This is of note because these undertakings are no longer difficult to pursue:...
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Topics:
Predictive Analytics,
Office of Finance,
Finance Analytics,
Analytics,
Business Analytics,
Business Performance Management (BPM),
CFO,
Financial Performance Management (FPM)
Ventana Research recently completed groundbreaking benchmark research on how finance organizations use analytics these days. Of course, analytics have been a mainstay of finance organizations since people started using accounting ratios to assess the health and performance of a business. Yet perhaps because traditional analytics are so deeply entrenched, finance departments execute the basics well but don’t take the next step to fully utilize the power of information technology to use analytics...
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Topics:
Predictive Analytics,
SAP,
SAS,
Office of Finance,
Operational Performance Management (OPM),
Analytics,
Business Intelligence,
IBM,
Oracle,
Business Performance Management (BPM),
Cognos,
finance,
Financial Performance Management (FPM),
Sales Performance Management (SPM),
Financial Performance Management
Two software applications I follow, price and revenue optimization (PRO) and sales compensation and incentives, can be highly complementary when used together. Unfortunately, since they typically are developed and sold by different kinds of software vendors, scant attention has been paid to the value of using them in tandem. I advise companies that have adopted a PRO strategy to use an incentive management application also to support and reinforce their optimization efforts. It is also part of...
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Topics:
Predictive Analytics,
Sales,
Human Capital Management,
Office of Finance,
Operational Performance Management (OPM),
Business Analytics,
Business Performance Management (BPM),
Financial Performance Management (FPM),
Sales Performance Management (SPM),
Workforce Performance Management (WPM),
Price Optimization,
Profitability