Four performance management trends to watch in 2012 (Craig Schiff of BPM, on TDWI).
Craig notes performance management started with a focus on consolidating information from multiple general ledgers and then moved on to providing a real system alternative to spreadsheet budgeting. Today it encompasses those areas plus financial reporting, operational analytics, governance, risk, compliance, strategy management, and profitability optimization. As the technological advances and business benefits have grown, so, too, have the implementation challenges. The future will bring new capabilities and provide ways to reduce the complexity and enable more organizations to come closer to realizing the full benefits of performance management.
Craig notes performance management started with a focus on consolidating information from multiple general ledgers and then moved on to providing a real system alternative to spreadsheet budgeting. Today it encompasses those areas plus financial reporting, operational analytics, governance, risk, compliance, strategy management, and profitability optimization. As the technological advances and business benefits have grown, so, too, have the implementation challenges. The future will bring new capabilities and provide ways to reduce the complexity and enable more organizations to come closer to realizing the full benefits of performance management.
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