The document discusses best practices for enterprise performance management (EPM) and budgeting processes. It outlines challenges with traditional spreadsheet-driven budgeting approaches and how purpose-built planning applications can help by linking strategic goals to plans, monitoring execution, and providing consistent insights across the enterprise. Real-world examples from Texas Children's Hospital and Wyman Gordon show how EPM solutions have helped streamline budgeting and given managers better access to timely forecast data.
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Best Practices for Enterprise Performance Management
1. Fix Your Forecast and Build Your Budget Best Practices for Enterprise Performance Management Emil Fernandez, General Manager EPM National Practice June 29, 2010
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21. EPM Favors More Complex Organizations Complexity Basic Reports Mgmt Rpts Analysis Financial Reporting Private Public Multi-National Multi-Division Financial Modeling Performance Management Small Medium Large Size
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24. Time Competitive Advantage OPERATIONAL EXCELLENCE MANAGEMENT EXCELLENCE Cost โ Lean and Mean Quality โ Six Sigma, TQM Speed โ Real-time, JIT Smart โ Actionable Insights Across Enterprise Agile โ Adaptable to Changing Business Conditions Aligned โ Consistent View of Performance
25. Enterprise Performance Management (EPM) World-class EPM organizations deliver 2.4 times the equity market returns of industry-peer companies Source: CFO Challenges and Opportunities in the Flat world 1.0 2.40 Peer Group World-Class
27. How do I apply EPM Principles to the Budget process?
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30. Planning Applications โ Key Components Managers Web Forms Centralized Database Planning Manager Approve Deny Promote Manage Report Analyze Model Actuals GL OLAP
31. Features & Benefits (continued) Feature Benefit Automated Reduces Errors, reduces cycle times Web-based forms Gets away from e-mailing spreadsheets Secure People see only what they need to see Workflow Increases efficiency, reduces cycle times Flexible Able to run multiple what-if scenarios
32. Planning Applications โ Features & Benefits Feature Benefit Centralized database Single version of the truth (raw data) Calculation Engine Single version of the truth (business rules) Summary-level data Ultra-fast performance, reduces cycle times Easy-to-generate reports Facilitates analysis, reduces cycle times Ability to load actuals Measure and improve enterprise performance
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