9 EPM SAP Strategy Management How To Best Practices To Implement Now

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Want to Create a World Class Strategy Management Organization Within Your Organization? 

 
Part one of SAP BW Consultings Series on the subject introduces 9 Strategy Management Best Practices to implement today.

  1. Establish and use Balanced Scorecards to connect strategic objectives to operational goals while ensuring Finance is actively involved in the design and execution of the Balanced Scorecard.

  2. Enable Finance to monitor the performance of the Corporation in achieving key strategic objectives for finance as well as other operational units using external and internal benchmarks.  Key Performance Indicators (KPIs) should be defined and integrated within your corporate strategy playbook.  Many clients use SAP BusinessObjects Strategy Management software to accomplish.

  3. Enable Strategic Planning to cover current year planning while also developing and integrating longer term plans spanning multiple years.

  4. Incorporate Strategic Plans that synthesize operational and financial measures from internal and external sources.

  5. Ensure Finance monitors the performance of the Corporation in achieving key strategic objectives for finance as well as other operational units using external and internal benchmarks.

  6. Assign key objectives and initiatives to individuals who then monitor and report on them.

  7. Link the Strategic plan electronically and ensure it can be broken into operational and tactical goals/targets.  The SAP EPM or Enterprise Performance Management Solution provides a solid foundation for accomplishing this complex task.  SAP SSM (SAP Strategy Management) allows you to achieve corporate wide deployment of your strategy and is normally used in conjunction other components of the Performance Management System.

  8. Tightly link strategic plans to tactical, operational and financial plans.

  9. Provide a risk-adjusted view of performance by establishing Key Objectives and assigning both KPI and KRI measures to them.

SAP Strategy Management Should Be Part Of Your Strategy Management Solution

Accomplishing the preceding steps can be complicated, but the SAP Strategy Management solution provides a strong foundation to support you throughout the exercise and subsequent ongoing follow-up.  A great place to start this process is with a Reporting Strategy Development exercise.

 

Get Help Developing a Reporting Strategy

 

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INDUSTRY SOLUTIONS Best Practices SSM Strategy Management EPM

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Lonnie D. Ayers, PMP

About the Author: Lonnie Ayers is a Hubspot Certified Inbound Marketing consultant, with additional certifications in Hubspot Content Optimization, Hubspot Contextual Marketing, and is a Hubspot Certified Partner. Specialized in demand generation and sales execution, especially in the SAP, Oracle and Microsoft Partner space, he has unique insight into the tough challenges Service Providers face with generating leads and closing sales using the latest digital tools. With 15 years of SAP Program Management experience, and dozens of complex sales engagements under his belt, he helps partners develop and communicate their unique sales proposition. Frequently sought as a public speaker in various events, he is available for both inhouse engagements and remote coaching.
Balanced Scorecard Consultant

He also recently released a book "How to Dominate Any Market - Turbocharging Your Digital Marketing and Sales Results", which is available on Amazon.

View All Articles by Lonnie D. Ayers, PMP

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