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Ventana Research Value Index 2009: Performance Management
1. The Ventana Research Value Index: 2009 Performance Management Executive Summary Table of Contents Aligning Business and IT To Improve Performance Ventana Research 6150 Stoneridge Mall Road, Suite 350 Pleasanton, CA 94588 email@example.com (925) 474-0060 www.ventanaresearch.com © Copyright Ventana Research 2009 Do Not Redistribute Without Permission
The Ventana Research Value Index: Performance Management Pleasanton, California June 1, 2009 Ventana Research performed this research and analysis independently to determine the Value Index for Performance Management and to evaluate vendors and products in accordance with the Ventana Research Performance Management methodology, PerformanceCycle™. We charged no fees for this research and invited all vendors of business technology products relevant to this research topic to participate. Over the past 10 years our research has evaluated hundreds of vendors and products. This report includes vendors and products generally available as of January 2009. This report has audited and validated vendors and their products that provide technology for enabling Performance Management. Our purpose in conducting this research was to evaluate the maturity of software vendors and products and their appropriateness for the methodology and process of Performance Management. This research and report are not intended to imply that one vendor or product is the right choice for any particular organization. Rather, they provide a baseline of knowledge that organizations can use to evaluate vendors and products to improve performance by aligning business and IT. Unlike IT analyst firm reports that use subjective influences to score vendors, our research is based on the thorough analysis of customer assurance and product categories that best represent how an organization should evaluate its technology supplier. We certify that Ventana Research performed the research to the best of our ability; that the analysis is a faithful representation of our knowledge of vendors and products; and that the analysis and scoring are our own. © 2009 Ventana Research Page 2
The Ventana Research Value Index: Performance Management Performance Management A lack of alignment between people and processes will hinder performance across the board. Awareness of this problem has provoked management to demand a sophisticated but easy-to-implement strategy for improving strategic and operational performance. This mandate has been the foundation for what Ventana Research defines as Performance Management, a concept that can be applied to any organizational area or industry where there is business value in maintaining or improving the performance of people and processes. The essence of the challenge in most organizations is to ensure that the work of everyone in the company is aligned to the its goals and strategy, direct its culture toward performance and foster a focus on accountability and cohesiveness. More formally, Performance Management is the methodology and process of managing performance according to a commonly understood set of goals and objectives. It focuses on enabling individuals not only to act efficiently but also to make effective decisions. This approach guides all individuals to fulfill their potential and collaborate across strategic, tactical and operational levels. Performance Management is a critical process for managing performance, and is a framework that aligns to how organizations actually operate today. Based on our years of benchmarking and best practices research, Ventana Research has identified the process that can enable organizations most directly to undertake Performance Management. This three-step process, illustrated at right, links the organization’s many components most effectively. The first step is to Align the business, coordinating and driving individual actions based on internal and external information and performance targets. The second step is to Optimize the business by enabling collaboration, forecasting and information sharing and applying analytics for performance improvement. The third step is to Understand the business through a model that represents the activities and processes of the organization placed in historical context. Organizations that do not address Performance Management in a sustained and methodical manner will fail to achieve the results that executives expect and shareholders require. The challenge in realizing these critical imperatives sounds simple enough: to get people to work together to agree on and execute a strategy and plan. Without common agreement and shared direction on how to improve performance, organizations will not be able to maximize the value of either their human capital or their business processes. Performance Management cannot proceed without an understanding of the business management process. This management process has three key phases: Strategy, Planning and Execution. Optimizing each of these requires careful management, particularly of the people who are involved in the process. We’ve found that organizations tend to devote much time and resources to managing the last step in this process, Execution, rather than apportioning time across all three steps. © 2009 Ventana Research Page 3
The Ventana Research Value Index: Performance Management Value Index Overview The Ventana Research Value Index: Performance Management in 2009 is the distillation of a year of market and product research efforts by Ventana Research, the premier benchmark research and advisory services firm. Built on a foundation of 10 years of business and technology research, this unbiased fact-based index is the first such industry undertaking to assess the value of software designed specifically for enabling Performance Management. This Ventana Research Value Index is an analytic representation of our assessment of how well vendors’ offerings meet buyers’ requirements for software that enables and supports Performance Management. The Index evaluates the software in the context of seven key categories. Five are product- related: adaptability, manageability, reliability, usability and functionality. In addition, we considered two customer assurance categories: total cost of ownership and return on investment, and validation. To assess functionality we applied the Ventana Research PerformanceCycle™ methodology, which links the business process of managing performance to the organization’s information technology. We use our research-based analytics to generate the Value Index percentages. We then build them into a set of indicators that are the graphic representation of the Ventana Research Value Index. In these indicators the colors reflect our assessment of the value to you, the potential buyer, on a scale from minimally valuable, or Frigid (blue) to very valuable, or Hot (red). The Value Index thus is both an analytic and a graphic representation of the value of a specific vendor’s offering based on an evaluation of what it can deliver that is relevant to your Performance Management needs. The Value Index for Performance Management in 2009 shows that currently the top supplier, based on the weighted factoring of the seven product and customer assurance categories, is Information Builders, which qualifies as a Hot Vendor, followed by Infor, IBM Cognos Software, Softscape and arcplan. The Value Index is not an abstraction; Ventana Research used a carefully crafted best practices-based methodology to best represent how organizations actually will © 2009 Ventana Research Page 4
The Ventana Research Value Index: Performance Management assess vendors to choose their IT investments for Performance Management. We believe it is important to take this approach, since making the wrong decisions on a vendor and product can raise the total cost of ownership (TCO), lower the return on investment (ROI), and of course hamper your organization’s ability to reach its performance potential. While there are dozens of analyst reports with varying types of charts that proclaim leaders, we have found little substantive research that focuses on how to apply information technology to the business and technology requirements of managing performance like you would in your organization. In light of the fact that many factors, among them a company’s purchasing history, personal connections and vendor biases, can cloud the objectivity of acquisition assessments. We offer this research as impartial and authoritative; any organization looking to assess, validate and improve its Performance Management processes and systems should utilize the Value Index, and the research on which it is based, as a key part of its evaluation process. The Value Index rests on a foundation of research that has been conducted over 10 years. For this 2009 report, the research was conducted from November 2008 to April 2009; products submitted for evaluation had to be generally available at the start of January 2009. To ensure the accuracy of the information we collected, we required participating vendors to provide evaluation data across seven categories as in a RFP. Ventana Research then validated the information both in consultation with the technology suppliers and independently. More than 50 vendors were invited to participate, but most either failed to meet our criteria for inclusion or chose not to participate; we identify those companies in an appendix to the comprehensive Value Index report. This full report, which expands on the products’ and companies’ scoring and can serve as a buying guide, is available from Ventana Research. © 2009 Ventana Research Page 5
The Ventana Research Value Index: Performance Management About Ventana Research Ventana Research is the leading benchmark research and advisory services firm. We provide expert guidance to help organizations manage and optimize performance – to become not only more efficient but more effective. Our unparalleled insights and best practices guidance are based on our rigorous research-based benchmarking indexes of people, processes, information and technology across business and IT functions worldwide. The combination we offer of benchmark research, rigorous market coverage and in-depth knowledge of hundreds of technology providers means we can deliver business and technology education and expertise to our clients where and when needed. The Ventana Research Indexes – the Value Index and the Benchmark Index family –have redefined the research industry by providing accessible, easy-to-use research-based business and technology guidance to businesses. Ventana Research provides the most comprehensive analyst coverage in the industry; more than 2.5 million business and IT professionals through our community of 85,000 professionals and network of media and association partners around the world benefit from Ventana Research's insights. Ventana Research focuses on business and technology trends and best practices that maximize organizations' potential to perform while reducing the time, cost and risk and still achieve optimal outcomes. To learn how Ventana Research advances the maturity of organizations use of information and technology through benchmark research, market indexes, education and advisory services, and also where to find us on Facebook or LinkedIn or how to follow us on Twitter or BusinessWeek’s BusinessExchange, visit www.ventanaresearch.com. We offer a variety of customizable workshops, assessments and advisory services to address your specific Performance Management challenges: • Workshops, led by expert analysts who have on average more than 20 years of practical experience, provide a starting point to learn about critical Performance Management topics in an interactive atmosphere. • Value Index Assessment Services help you define your strategy, build a business case and connect the business and technology phases of your project. • Advisory Services provide access to our analysts and research on an as- needed basis to help you keep up with the latest market trends, technologies and best practices for a competitive edge. Please contact Ventana Research at firstname.lastname@example.org or (925) 474.0060 to learn more about the Ventana Research Value Index and our services. This Executive Summary is drawn from the full Ventana Research Value Index: 2009 Performance Management report, which lays out in detail the analysis underlying the Value Index, lists the products evaluated, and suggests a methodology for preparing for a Performance Management- related RFP. For more information about the full Value Index report or assessment of your organization using the Value Index, please contact us at email@example.com. (925) 474.0060. © 2009 Ventana Research Page 6
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