The purpose of this blog entry is to help you assess the decision-making capabilities of your organization today versus those of a best-in-class business.
By pinpointing the current ability of your information workers today to make optimal decisions and measuring these against an ideal state, it is easier to establish where you should be looking for improvement opportunities and then document these in your master plan to achieve world-class decision-making across your organization. As you go through the self-assessment for your organization, it should become quite clear (if it wasn’t already) that people and processes are just as important as technology when it comes to establishing the right foundation for world-class decision-making.
It is a well-known fact that every organization needs to get to know its strengths and weaknesses to evaluate its capabilities and potential. Usually this is done in conjunction with corporate strategy documents and by using a popular matrix format referred to as a SWOT (strengths, weaknesses, opportunities and threats) analysis. However, because the focus of this blog is to help enable world-class decision-making through the use of modern CPM technology, let’s take a look at a more specific self-assessment format to help you determine the current status of decision-making capabilities in your organization.
You will find two tables below. The first one lists questions for each readiness area to help your thought process and insight when filling out the second table with answers for your own organization.
|Readiness Area||Readiness Conversation Starters|
|Availability of Data||
|Business Requirements Documented||
|CPM Solution Selection||
Based on the above questions, you can see some fictitious answers have been entered in the three columns to the right to provide an example.
(Note: The comments below are examples)
|Vision||High||Completed Business Requirement doc with 5 year vision.|
|Executive Support||Mid||CFO is sponsor.|
|Infrastructure||Low||High||Not needed. Will implement cloud solution.|
|Availability of Data||High||Mid||ERP and Payroll vendors have confirmed data export format/API. Data is clean.|
|Resources/Power Users||Mid||Mid||Hire CPM analyst prior to implementation.|
|Funding Available||High||Mid||Waiting for board approval.|
|Business Requirements Documented||Mid||Low||Will be one of the first tasks for the new analyst we will hire.|
|CPM Solution Selection||Mid||Mid||Have seen 1st round of demos and narrowed down to 2 solutions|
|Partner Selection||Low||High||Have list of certified partners to select from.|
Few companies have both mature financial planning and analysis processes and a strong, unified CPM platform, and this presents a significant improvement opportunity for companies that want to drive their performance by using modern CPM that helps enable employees to make world-class decisions.
Let’s talk about a typical situation of a company in the table on the left versus what an ideal state may look like. The vast majority of organizations have added different systems over time, and often without looking at the bigger need of the organization to centralize key data and use fewer, more integrated and easier business intelligence tools. The result is sub-optimized decision-making, frustration, higher cost, more training requirements, and so on. The “ideal situation” looks like integrated CPM technologies that, when carefully selected based on proper needs analysis and successfully implemented, can result in numerous benefits and ultimately act like a single solution that enables world-class decision-making across the company. And when you juxtapose that with what’s common, you have an illustration of typical, core CPM technologies managed in an uncoordinated, non-strategic fashion and with the resulting lack of benefits versus a highly planned, strategic implementation of a CPM platform with major advantages achieved.
As you do your research and consult with your own leadership team about the potential benefits to your organization when it comes to deploying a modern CPM solution for reporting, planning and analysis, the previous blog articles, this entry, and the answers you have provided in the two tables above should provide you with a high-level understanding of what CPM solutions offer and how your organization can benefit to help enable world-class decision-making for all your information workers. Solver enables world-class decisions with BI360, a leading web-based CPM suite made up of budgeting, reporting, dashboards, and data warehousing, delivered through a web portal. Solver offers BI360 through cloud and on-premise deployment and is reinventing CPM with its next generation solution. BI360 empowers business users with modern features including innovative use of Excel in the model design process. If you’re interested in learning more, our team is excited to hear about your organizational needs and goals.