At a time of unprecedented uncertainty, benchmarking can provide a concrete baseline and spotlight where an organization stands next to its peers, says Accenture's Chuck Wise.
Chuck Wise, senior principal, finance and performance
management, Accenture speaks with Business Finance about the importance of benchmarking and how it can improve the performance of key corporate functions.
There are parallels to be drawn between sabermetrics in baseball and how the business world uses analytical tools such as regression analysis to support predictive business analytics as a management practice, says Larry Maisel.
Many organizations over-plan and under-execute. However, there is no single standard roadmap to implement a program or project. Getting to the destination is the goal, so it is better to be flexible, says Gary Cokins.
The scarcest resource in an organization is human ability and competence. But competency is not enough to be a leader. They need curiosity, imagination, and creativity. And the emergence of analytics is creating opportunities for analysts as leaders.
Too many companies are slow to adopt innovative methods and technologies, succumbing to aversion to risk, lack of vision or simply being too distracted.
The barriers that have slowed down the adoption rate of enterprise performance management aren't technical, but rather ones that involve people, culture and human nature's resistance to change.
Key performance indicators enable an organization to see the bigger picture in a complex integration plan, helping to determine the link between budgets, spending, performance and strategic objectives.
Despite years of pursuing best practices and investing in performance management technologies, companies found themselves flying blind when the recession hit. Here's what went wrong -- and how to fix it.
Gaining a clear view of how much an organization spends to process a sales order is only the first step. The true value is found in understanding the underlying drivers of performance.
