It goes without saying that a business can’t operate without a solid budget; the budget sets clear goals of income and expenditure for the entire body of the business, from top to bottom. There are many factors that go into determining your budget cycle length and the frequency of creating […]
Performance Management
11 posts
It is perhaps part of human nature to react to errors as soon as they see it. Being able to identify them is crucial in just about anything especially in instances where minor discrepancies would impact the expected results a lot. Forecasting business flow is necessary in making important decisions. […]
Employee performance management is a key to create a coherent relationship of the workforce’s efficiency levels and the organization’s goals and objectives. Performance management begins as the worker is screened primarily for the tasks where their skills are determined if they are suitable to comply with the needed competency for […]
Recent research has shown that high employee engagement is not just a nicety, but is fundamentally essential to an organization’s success and also directly linked to the bottom line. A new study conducted by IBM shows that a single percentage point increase in an organization’s Employee Engagement Index (EEI) adds […]
If your enterprise heavily relies on spreadsheets for data collection and analysis, your business may need a new solution. The spreadsheet only process was an excellent tool in the 1980’s before technological advances and cloud-based performance management tools emerged. The challenges businesses face today are numerous and complex, without dealing with […]
To achieve sustained growth and gain a competitive advantage, companies need to be able to use analytics and business intelligence to develop actionable, data-driven insights. Unfortunately, analytics is not a one-size-fits-all solution. The business manager, business analyst, and executive all have different needs when it comes to analytics and business […]
Proper financial management is the core of efficient, successful business operations. By utilizing integrated budgeting and planning strategies, organizations are able to respond quickly to change, pinpoint performance gaps, gather clear insight into new objectives, view impactful performance targets and contingency plans, foster improved communication with stakeholders, and capture a […]
A company’s ability to effectively execute the process of budgeting, forecasting and planning is a huge driver of corporate success. As you know, there are many difficulties that can interfere with such processes in many organizations. A ponderous manual budget process combined with the problematic coordination with line managers often […]
Business organizations of all types are increasingly using Scorecards as a tool to help their company track and reach organizational goals. So what exactly is Scorecarding? Scorecarding Scorecarding for strategy management is a way to share company goals with all employees, and keep them up-to-date on how well the organization […]
Experts agree that planning, budgeting, and forecasting are essential parts of any enterprise’s success. But many decision-makers still fail to plan properly and thoroughly to put them on the right track. Those who do, enjoy a system that runs more smoothly, avoiding costly accounting errors and securing a more desirable […]