What is Business Performance Management?

Business Performance Management (BPM) Software

As Business continue to change at an ever more rapid pace. Volatile market dynamics have immediate impact on a global scale. Organizations today are faced with higher degrees of uncertainty, forcing them to reinvent management practices, and to develop superior capabilities to manage the current performance and long term sustainability of their business. Corporate Boards and regulators are placing greater demands for transparency and accountability on these organizations. These new demands are piled on top of the traditional risks of globalization, deregulation, technology advancements, and commoditization. Data is also becoming increasingly more complex, less insightful and more difficult to analyze. As a result, executives are facing more pressure to ensure that information about their operations is correct and consistent. They must have confidence in their processes and in the results that they are reporting.

Business Performance Management (BPM) , otherwise termed as Corporate Performance Management (CPM) or Enterprise Performance Management (EPM), is tuned toward optimization of overall business performance and achievement of business goals. It enables an organization to enhance the management of their business performance through the aid of reports, analytics, kpis that help them measure and monitor efficiency and success of their business activities.

What if you could have timely, accurate, and relevant intelligence with which to plan and control your entire organization? What if you could have the most important metrics to measure the performance of the organization at your fingertips? What if all of your management systems could work together to provide what you need,when you need it?

There are many benefits to Business Performance Management:

• Augmented organizational flexibility
• Improved communication
• Stakeholder alignment
• Governance and compliance
• Better preparation for changes
• Superior business management
• Connected business processes
• Defined Business process framework
• Accountability and visibility
• Timely actionable information
• Decreased total cost of ownership
• Increased return on investment
• Leverage ERP / CRM systems
• Increased predictability
• Reduced risk
• Strategic, competitive advantage
• Standardized management processes
• Enhanced efficiency and adaptability

As always there are many challenges to implementing, optimizing and realizing full value of an Business Performance Management system implementation. There are many factors that may lead to challenges for companies. How will my business process change? What changes can be made that better leverage the technology? How do we integrate the data? Who should have access to what? How can we optimize our system for performance and ease of maintenance?

MindStream Analytics has years of experience dealing with these questions and working with companies and their BPM needs. BPM can create a competitive advantage for the companies that adopt it by enabling them to anticipate and respond to a changing business climate faster than their peers. MindStream can help you achieve your advantage.

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