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Build the Performance Management Pyramid

Build the Performance Management Pyramid

Companies' efficiency and capacity to define, predict, and measure their future is becoming a more prevalent need. As businesses begin to consider predicting or projecting their future, a solid EPM foundation is becoming more & more table stakes. The primary rationale for using an EPM solution is to enhance management and external reporting. And that too with a pandemic waning, businesses coming back to normal, scenario preparation and smarter decision making have risen to the top of the priority list.
Financial modelling, financial analytics, and dashboards provide critical insights to company executives, allowing them to foresee and minimise future risks, and ultimately assist them accomplish their corporate objectives. Financial reporting, along with modelling, analytics, and dashboards, continue to be the top five components that most businesses look for in an EPM system.

Modern EPM solutions, such as #QuarkCube, can effortlessly combine data from numerous sources and deliver insights to help users make data-driven decisions that are faster, simpler, and more accurate. Bringing everything together from Operational Reporting to Management Reporting, Planning, Pricing etc requires solid performance management platforms that needs to be scalable, secure & most importantly well governed.

Lastly its not only about bringing everything together, it is also about using the governed centralized data to derive insights and disseminate to wider user base to move towards data driven decision making. We call it the Pyramid of Solid Performance Management Foundation. The Pyramid starts with a solid foundation first in having a common data management framework, followed by accurate Actuals reporting, Planning & Budgeting and then eventually transitioning to complex automations like Cash Flow, Strategic Models etc.

When we work with customers while implementing QuarkCube, we start with this Pyramid vision which is then supplemented through our rollout methodology. You cant go to the top without having solid foundations or the surrounding blocks. The objective of our methodology is to be like that of a Pyramid, i.e. to last a life time and it should stand the impact of all business changes, executive changes & most importantly bring sustainable long term value to the business.

#strategy #pyramid #methodology #epmcloud #planning #cashflow #datamanagementplatform #datamanagement #analytics #future #business #data #sustainable

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