The Detail is in the Data...
Business Performance & Strategy
Effective business performance management (BPM) is central to the success of all organisations. On the face of it, it sounds simple.
'Determine and implement the organisation’s strategy, measure how well it has met those objectives, and then adapt its performance accordingly'.
However, speak to any accountant in business and it becomes clear that in practice things are never so easy. Inevitably the conversation will include experiences such as those of fragmented IT systems, inaccurate data and information being ignored by decision makers. With these challenges in mind NTTX, through our various reports and action plans, provides an opportunity to stand back and examine a businesses approach to performance management.
Phase 1, we set out the component parts of BPM in a framework against which our clients map their current processes. However, in practice, it is where this framework interacts with internal and external tensions that an organisation needs to focus its energy.
Phase 2, we consider where such problems commonly occur and help provide a focus for any improvements which are required. This report is the first phase of our ongoing BPM project. In phase two we will also provide case studies and some suggestions on how to address common problems.
While recognising the primacy of business operations we have largely focused on the information provision of BPM, which will inform departmental functions, primarily operations and finance. We believe it is critical for everyone working in the area of BPM to keep in mind that financial information is simply the outcome of operational actions and should not be viewed in isolation. Each organisations operating environments are unique; our experience has shown that it is still possible to identify component parts of BPM which are commonly accepted.
During a recent project the leadership team of one of our clients told us, "Business Leaders are caught in the headlights. we know we have a problem, but don’t know how to react".
A BPM model and strategy can be a revelation as it can help clients see the wood from the trees.’ Our BPM framework will help:
Clarify corporate and aligned thinking on BPM
Map current approach to BPM against the NTTX framework; in doing so identify areas of concern
Explain BPM to others in the organisation to ensure a collaborative methodology for issue resolution
Identify fundamental 'weak spots and issues' within the company which will, if not addressed and resolved, detrimentally affect productivity going forward