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1、Building World-Class Finance and Performance Management CapabilitiesKeynoteThe ability to consistently drive insight about improving business performance is one of the most important leadership responsibilities for finance executives. It is also one of the most difficult responsibilities to achieve
2、on an operational basis.Success in creating both business analytics and performance management capabilities requires finance executives to move beyond the boundaries of their organizations to influence the systems, decisions, and actions across the enterprise. To make the job even more challenging,
3、the range of tools and techniques to collect, organize, understand, and communicate information regarding industry, competitive position, enter- prise performance, and specific initiatives presents a continually changing landscape.Many finance executives start to tackle the challenge by establishing
4、 transaction processing, control, and reporting systems capable of rapidly generating basic information about the enterprise. With these essential capabilities in place, leading finance organi- zations are implementing more sophisticated business analytic and performance management tools.As driving
5、insight from disparate information increasingly becomes the competitive edge differ- entiating winning companies across industries, the impact of well-designed and deployed capabilities will become more apparent and the focus on these capabilities will increase.There are several trends that should a
6、ffect the speed of implementation and level of sophistication of new business analytic and performance management capabilities. The strategies and solutions adopted in a specific enterprise will vary as these markets continue to mature, but common themes are emerging among leading-edge competitors.
7、The substantial business value to be gained provides a compelling reason to start creating new capabilities now.Trends Impacting Business Analytics and Performance ReportingInvestors are upset. Regulators are active. All is not well with financial transparency and investor relations. The CEO and ent
8、ire management team are now under significantly increased pressure to respond to new financial transparency requirements introduced through the Sarbanes-Oxley Act in the United States and planned revisions to International Accounting Standards. Many finance organizations are placing renewed attentio
9、n to their abilities to forecast and report financial performance through changes in the economic cycle, to communicate effectively with investors, and to work across the business to manage performance.Investors dont want managed earnings, but they dont want surprises, either. The days of smoothly m
10、anaged quarterly results are over as companies struggle with an uncertain economic environment, increasing levels of sophistication in competitors, and changes in accounting standards. While investors are pleased to have more transparent financial results, they are demanding that management teams de
11、monstrate a higher level of expertise in forecasting how changes in the industry or economic environment are likely to impact future earnings, future cash flows, and future capital investment requirements.Executive compensation systems designed to align management teams with shareholder value measur
12、es are under pressure in multiple geographies and indus- tries as gaps between investor results and executive compensation have widened. Management teams are rethinking which high-level measures to target and how to implement appropriate performance reporting systems to manage the company.Government
13、 organizations are also under increased pressure to implement performance management solu- tions and demonstrate higher service levels with lower cost structures. Clear definitions of government entity scorecards and performance levels are increasingly important in the process of justifying spending
14、 levels and requesting new funds.The basis of competition is shifting from individual companies to entire supply chains within industry sectors. Supply chains are being formed, modified, and restructured as industry boundaries blur and competitive environments become more sophisticated.Understanding
15、 performance inside the walls of an enterprise is no longer sufficient it is expected that the performance of a supply chain made up of multiple companies will be understood and compared to competing supply chains within an industry. The increasing use of global operating models, includ- ing the wid
16、espread use of manufacturing facilities in low-cost countries, requires performance management solutions capable of easily integrating information from multiple information platforms, data structures, and sources.Furthermore, the pace of business has accelerated. Companies are seeking the ability to sense and respond to changes in the environment more rapidly than competitors. Performance reporting processes must be adapted to keep up. From the m
