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corporate performance management
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| Two of the most pressing and critical
issues that face corporate financial professionals today are that of
accountability and visibility. This is particularly the case in terms of
compliance with legislation. Therefore, Corporate Performance Management
is increasingly being viewed as a strategy to address both challenges.
However, there is a considerable amount of confusion, especially in India as to what exactly Corporate Performance Management is all about. This confusion arises due to the fact that Corporate Performance Management is sometimes referred by other names, such as Business performance management and Enterprise performance management. However, in spite of the confusion and jargon problems, Corporate Performance Management definitely does offer more visibility into the financials of a corporation. However, it can and should do much more in India. In order to understand Corporate Performance Management is, at its simplest level, it is the union of business intelligence and financial applications. It describes the methodologies, metrics, processes and systems used to monitor and manage the business performance of an enterprise. Corporate Performance Management is also provides organizations with a single source of information bringing together all types of data, including both financial and operational information. By integrating this data into a singe instance, every view of the business arrives enriched with information from all over the organisation: information from data warehouses, standard ERP applications, spreadsheet and legacy or proprietary systems, all providing a greater understanding what is happening right now. On the strategic front, Corporate Performance Management enables managers to perform dynamic business calculations to investigate what-if scenarios, allowing forecasts to be updated and budget adjustments made. And it is not only relevant for companies: the ability to better plan, budget and respond is critical for public organizations striving to offer best value.
~ Category editor Sakina Kadiwala. copyright data indianchild.com
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