Deliver dividends with financial performance management

1. an independent report From lyonsdown, distributed with the daily telegraph Business Reporter · June 2011
Industry view 15
Deliver dividends with financial performance management
Financial performance management systems have become much more affordable, especially if adopted incrementally
Financial perFormance management
(Fpm) function is a core responsibility of the
finance department. But, despite placing in-
creased demands on their financial operations,
many companies are still reluctant to invest in
Fpm software, believing it to be too expensive,
too complex and beyond their reach.
“Fpm software doesn’t have to be an all or
nothing proposition,” says Faisal nadeem,
founder and ceo of UK-based Tcm infosys, a
leading specialist in Fpm software development.
“companies can see an almost immediate return
on their investment by taking incremental
steps to integrate information, technology and Collect, calculate, consolidate: total corporate management at your fingertips
information to understand underlying trends and use financial information, and what information that is committed to developing a strong busi-
Companies can see an spot anomalies. “if a company is going to grow they think is relevant and timely.” ness relationship with your organisation,” says
almost immediate return and succeed it’s imperative to have immediate He also recommends that companies should nadeem. “reliable and exceptional after-sales
access to reliable, relevant information,” he says. clearly define their business and technical re- service will get companies the maximum benefit
on their investment by nadeem says that an Fpm solution has quirements before they select an Fpm provider. from their investment in Fpm.”
components found in any management infor- “There’s a lot of choice on the market,” he says. Finally, nadeem suggests that companies
taking incremental steps mation system – software, business processes “You really need to get the software that meets request a prototype of any solution, before
to integrate information, and people. With minimal investment, these your needs, not just today, but as your business making a final decision.
components can interact more successfully to grows. ask yourself, does the product give you “i’m a strong proponent of showing the solu-
technology and people measure performance and improve operational the flexibility and agility that you need?” tion instead of just talking about it. That way,
effectiveness. He also emphasises that “companies really everyone has an enhanced understanding of the
Before investing in Fpm software, however, need to consider how much implementation solution and the people involved, and you’re on
people.” This gradual approach means that nadeem says that a number of factors must be effort, training and ongoing administration your way to developing a positive and profitable
each business can reap the immediate benefits weighed in the decision-making and selection are required with each product. a successful outcome.”
of Fpm, expanding and adapting its capabilities process. The company’s key users and manage- knowledge transfer to your users is the key
as the company grows. ment must be part of the process right from the to ensuring the success of your Fpm project.” For more information email
companies that use Fpm software can plan start: “it’s important to know the needs of your another critical factor when choosing a faisal.nadeem@tcminfosys.com
the direction of their business and analyse decision-makers – such as how, and where, they software provider is service. “look for a provider www.tcminfosys.com
In tough economic times, 4c Associates has devised an innovative approach
to reducing companies’ outgoings that is applicable to all business types