Today’s economic environment is marked by increasing global competition, intensifying regulation, growing cost pressures and tighter financial opportunities.
How can Enterprise Performance Management (EPM) help? EPM is a mechanism for:
Successful organisations create a strong strategic focus to drive performance and align resources organisation wide to facilitate strategic execution. An effective EPM builds strategic focus and alignment in an organisation by creating a comprehensive strategy execution framework, aided by a business intelligence infrastructure.
With no overarching strategic objectives and misalignment of resources, organisations will spin in circles.
With strategic objectives defined, organisations may know where to go, but without alignment, achieving those objectives will be a ‘hit or miss’ exercise.
An organisation can act as a cohesive whole with full alignment. However without guiding objectives, the organisation can head in new, uncharted directions - a classic case of ‘how do we know if we’re there, if we don’t know where we are going’?
These organisations act as a coordinated whole to achieve clearly defined objectives. It gives all the people and elements within an organisation a direction to work towards, empowering them to act and rewarding them when strategic objectives are achieved.