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Making Planning More Strategic
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Benchmark Research Shows Companies Can Improve Planning and Budgeting
Venatna Research recently completed extensive benchmark research on how companies plan and budget. Planning and budgeting are fundamental to performance management. Ideally, they are how companies harmonize the sometimes conflicting objectives of departments and business initiatives and align operations with strategy. In our view, planning and budgeting ought to be a structured dialog about the future - structured in the sense that there are concrete, measurable goals (revenues, market share, units produced and so on) and definable constraints (spending and investment).
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EPM Market Matures
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EPM Market Matures
The Enterprise Performance Management (EPM) market is maturing. A second generation of highly functional, scaleable products has emerged that can be purchased and implemented for a fraction of what the last generation cost. The price to performance ratio of solutions in this market is in great flux. Before spending hundreds of thousands of dollars, carefully consider whether a much lower priced solution might meet your needs.
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Better Planning and Budgeting
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Rethink the Purpose, Scope and Objectives of Your Process
Budgeting, planning, forecasting adn reviewing consume a large portion of a finance department's time. Ventana Research recently completed extensive benchmark research devoted to planning and budgeting. Our research found that almost three-quarters (72%) of companies are considering making changes to their process or have made some during the last 18 months. However, those changes often are merely tactical and do little to increase fundamental effectiveness. Companies need to do more.
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Part 1 of 3 Articles on "5 Key Principles of Corporate Performance Management" by Bob Paladino
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5 Key Principles of Corporate Performance Management: Part 1
This first of three articles reprinted from Strategic Finance Magazine by Bob Paladino. It focuses on Principle 1: Establish and Deploy a CPM Office and Officer. Content for this article has been adapted in part from Bob Paladino's book "Five Key Principels of Corporate Performance Management, from Wiley Publishing, January 2007.
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Part 2 of 3 Articles on "5 Key Principles of Corporate Performance Management" by Bob Paladino
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5 Key Principles of Corporate Performance Management: Part 2
This is the second of three articles reprinted from Strategic Finance Magazine by Bob Paladino. It focuses on principles 2: "Refresh and Communicate Strategy" and 3: "Cascade and Manage Strategy". Content for this article has been adapted in part from Bob Paladino's book "Five Key Principles of Corporate Performance Management" from Wiley Publishing, January 2007.
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Part 3 of 3 Articles on "5 Key Principles of Corporate Performance Management" by Bob Paladino
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5 Key Principles of Corporate Performance Management: Part 3
This is the third of three articles reprinted from Strategic Finance Magazine by Bob Paladino. It focuses on principles 4: "Improve Performance" and 5: "Manage and Leverage Knowledge". Content from this article has been adapted in part from Bob Paladino's book "Five Key Principles of Corporate Performance Management" from Wiley Publishing, January 2007.
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