Data is at the heart of performance management, and there is a need to adopt disruptive approaches, including analytics and predictive, to tackle new business challenges.
Performance management service
Performance management covers methods, indicators, processes and systems used to drive, measure and understand company performance. These processes ensure overall consistency.
The management of performance must meet three key objectives:
- Acquire a clear and shared vision of the strategy and its operational implementation
- Respond to an increasingly dense management cycle to the group's and operational’s expectations in terms of performance monitoring
- Streamline the controlling organization and processes
As steering issues are increasingly forceful, the implementation of a relevant and effective mechanism becomes a strategic element for the governance in line with the Group's strategy.
In that context, BearingPoint F&R teams provide skilled, agile and independent consultants using proven and new methodologies to address clients’ key challenges:
- Definition of the needs and functional challenges of managing performance articulated between finance and operations
- Definition of the reporting architecture and management cycles
- Definition of a common management framework for the Group, enhanced by specifities at each level of the Group
- Improve reporting, dashboard and planning cycle with disruptive approach (Rolling Forecast, ZBB, etc.)
- Adapt the controlling organization in terms of roles and responsabilities, develop soft skills and technical skills including new profiles (i.e., data scientist)
- Select and implement next generation management tools such as Big Data Analytics
We define a performance management concept that provides benchmark and value-based performance indicators that are consistent, steering-relevant, future-oriented and prepared in the most cost efficient way based on a single point of truth (homogenous master data).
Performance management is improved by increasing effectiveness through increased controlling relevance, validity and flexibility as well as providing more efficiency by lowering the cost and time of planning and reporting processes.
The Optimization Approach
The optimization of performance management is based on four dimensions:
- Content: Define and benchmark industry-specific content/key performance indicators:
- As detailed and cascading KPIs
- Financial and (value driver based) operational KPIs
- Methodology: Develop business model driven methodology to support operating model
- Value-based planning
- Integrated planning and reporting
- Processes/Organization: Optimize processes and organization covering trade-off between effectivity and efficiency
- Business partnering
- Lower total process cost
- System: Select and implement standard software driven planning and reporting systems customized to specific client needs
- Broad experience in software selection
- Trade-off between standard and client specific developments
We are experienced in the optimization of performance management models for many notable national and international companies spanning all industries.