When it comes to your Corporate Performance Management systems, and all of your financial systems, are you getting the most for your money? How quickly can you generate new reports? What does it cost to do an effective forecast? Are you getting the right analytics? What are your Insights per Dollar?
Understand the value of your current Performance Management Systems and see if there are options to help get greater returns.
Get the Most for Your Money
Long ago and far away, while working as a young and rather green consultant on a large engagement for a utility company, more seasoned consultants first put into words an intuitively familiar concept: calories per dollar. Far away, as it was in Vancouver, and Philadelphia was where I called home at the time. And so long ago that I was working on a CICS application, which, as we all learned during Andersen Consulting boot-camp was pronounced “see-I-see-ess”, but the Toronto and Vancouver teams insisted on calling it “kicks”.
Anyway, being out of town, we were given a daily per diem to cover meal expenses. Another anachronism, as this was before the days of keeping every receipt and charging actual expenses. I do not recall the amounts, but it covered meal costs just fine. If you spent less than the total amount for the day you could pocket the difference as you were getting the per diem anyway for every day on site.
So, the goal naturally, for any frugal minded person was to get the most good food for the cheapest price, and various food establishments in the area were ranked accordingly, by calories per dollar. We spent a lot of time at the very delicious Mongolian buffet, content in meeting this metric and saving some cash.
When it comes to your Corporate Performance Management systems, and all of your financial systems, are you getting the most for your money? How quickly can you generate new reports? What does it cost to do an effective forecast? Are you getting the right analytics? What are your Insights per Dollar?
There are a number of questions to consider up front. The first important question relates to what you are receiving. Are you getting the information you need for Reporting, Planning and most importantly, Analyzing your firm’s performance?
The second important question is: How quickly are you getting the information? Fast enough to help make better decisions? Can you capitalize on opportunities, manage costs, mitigate risk, and even change direction if necessary?
And lastly, how much does it cost? Have you spent large amounts of money only to realize you’re not getting what you want in the time that you want it?
There’s nothing new in these concepts of course. The old adage of “your options are good, fast, or cheap but you can only pick two” applies to everything in a world of measurable resources. But it’s important to sometimes take a step back from the day to day minutiae and focus on the big picture. Thinking about how high you are on the Insights per Dollar scale can help you get a view on this.
At Wysent, we understand the need to look at the full scope of what you want and need. We also have the expertise to utilize a number of today’s latest technologies, such as Oracle Hyperion, OneStream, Anaplan and others, to deliver solutions that meets your requirements in the most efficient way possible.
If you would like to take a look at where you are doing now, and investigate options for getting more out your investment dollars, please get in touch. We can help you understand the value of your current Performance Management systems and see if there are options to help get greater returns.