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Performance Management – Current Challenges and Future Directions

A global survey of the maturity of Performance Management processes.

A global survey of the maturity of Performance Management processes.

By BARC, July 2009
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Authors:

Dr. Carsten Bange - Managing director, BARC
Bernard Marr - Chief Executive, API
Axel Bange - Head of Marketing, BARC

 

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Watch the Recorded Webcast which will reveal the key findings of this study.

In this seminar, members of FEI’s Committee on Finance & Information Technology (CFIT), BARC’s CEO, Dr. Carsten Bange and Tagetik’s COO, Manuel Vellutini, will present the research highlights and further explore.

» Watch the Webcast Now!

 


Abstract

Key processes for managing organizational performance include planning and budgeting, financial consolidation, reporting, compliance and risk management, as well as strategy management. This global study explores the key challenges organizations face today, the implications of these challenges on performance management processes, future process improvement priorities as well as integration levels between the different performance management processes.

This vendor-independent empirical study is based on 553 responses from organizations across a wide range industries, countries and company sizes. Most respondents were executives from departments such as finance, IT and general management. The study was conducted between March and May 2009.

The following key messages have emerged from this study:

  • Business
    • Acceleration of processes (faster reporting, shorter planning cycles, fast close) across all existing PM processes is the major improvement priority. 
    • Creation of better links between strategy management and other PM processes is the major integration priority.
  • Organization
    • PM processes are becoming more complex, with more people involved and an in-creasing number of tools used. 
    • This requires careful management. It is important to better align IT and business so they share a common vision of performance management.
  • Technology
  • Companies do increasingly use more specialized software tools to automate their PM processes, as opposed to using basic spreadsheet tools such as Excel.
  • There is an increasing need for integrated technology platforms that allow companies to manage performance across the different PM processes.

 

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