Enterprise Performance Management Best Practice Series
8 SAP EPM Tips
- Incorporate Risk Management into the Strategic Planning Process to help decide which corporate strategies to pursue (M&A, investing in new products, pursuing new sales strategies, etc.).
- Define corporate goals for which strategy is aligned with initiatives, metrics, risks, people, and tasks.
- Group goals and initiatives into successive waves of cascading, interlocked relationships; helping employees at all levels visualize the interrelationship of their own activities with the broader corporate vision.
- Establish a framework to document, cascade and monitor linkage of business goals, KPI's (Key Performance Indicators) and associated initiatives with the goal of greatly increasing organizational alignment and focus.
- Enable the implementation of KPI's, Measures, and other Leading Indicators/Operational Analytics that are uniform and tied to business objectives.
- Provide the ability to track real-time performance results through dynamic scorecards, allowing users to post comments and ask questions, so that business unit leaders can take action to improve organizational performance.
- Provide personalized and real-time dashboards of key supply chain metrics for management and key operational team leads to drive process compliance and improvements.
- Ensure Balanced Scorecards are implemented and used to connect strategic to operational goals. Make sure Finance is actively involved in the design and execution of the Balanced Scorecard.
That's How You Achieve World Class Performance
There you have it. 17 key Best Practices to implement today in your organization to achieve World Class performance. Not sure where to start? How about with by developing a reporting strategy?
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Bonus: Here is a short video to explain how we build a strategy.