Performance Management contains various processes that organizational goals are met in an active manner and within the set time constraints.With the use of Performance management modules companies of various sizes can achieve the same goal of creating an analytics-driven environment.
Capabilities of Performance Management:
Planning budgeting and forecasting – Performance Management solutions provide forecasting and analysis of multidimensional forecast modelling. It enables organizations to further collaborate on plans, strategize budgets and perform complex multidimensional financial analysis on planning models out of variable data sets. Regardless of the location or the mobility, all users can partake in the planning process.With cloud based deployment organizations can visualize metrics and KPIs using an interface optimized for multiple performance management capabilities.
Profitability modeling and analysis – Performance Management solutions enable users to examine the profitability of their business to find the most profitable products, customers and sales channels. With powerful what-if scenario modeling, they can evaluate strategies, test assumptions and compare current performance with historical actuals and external benchmarks. Users now have practical capabilities for cube slicing-and-dicing and perform “what-if” scenario modeling to analyze daily profitability trends and customer churn for thousands of accounts.
Financial close, regulatory and management reporting – Performance Management solutions provide users with the ability to automate the entire financial close and consolidation process for faster throughput.Users can also assimilate data from a variety of sources with in-depth narrative analysis for internal and external reporting. With help of performance management tools organizations can manage documents in a collaborative yet secure environment with visibility into the report generation process thus maintaining Security, control and governance.
Performance reporting and scorecarding – Performance Management solutions helps users monitor performance based on targets. Users can add scorecards to business intelligence and performance management content to monitor KPIs and help the business stay on track. Users are also now able to focus on high priority objectives by organizing scorecards by status and setingt alerts and notifications to identify problem areas.
Sales performance management – Performance Management solutions helps to align sales strategy for efficient management. The tools automates the process of calculating and reporting variable-based pay, providing more insight and accountability into the organization’s largest variable expenses.
Automation and integration – Solutions for process automation and data integration complement performance management and business intelligence capabilities. With a self-serving analytics environment, the system now provides compliance and auditability to show who ran what, where and how. In a nut-shell the business users now have control through an intuitive interface.
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