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Many organizations are far from where they want and need to be with improving performance, and they apply intuition, rather than hard data, when making decisions. Enterprise performance management (EPM) is now viewed as the seamless integration of managerial methods such as strategy execution with a strategy map and its companion balanced scorecard (KPIs) and operational dashboards (PIs); enterprise risk management (ERM); driver-based budgets and rolling financial forecasts; product / service / channel / customer profitability analysis (using activity-based costing [ABC] principles); customer lifetime value (CLV); lean and Six Sigma quality management for operational improvement; and resource capacity planning. Each method should be embedded with business analytics of all flavors, such as correlation, segmentation and regression analysis, and especially predictive analytics as a bridge to prescriptive analytics to yield the best (ideally optimal) decisions. This presentation will describe how to complete the full vision of analytics-based enterprise performance management system.
Why Should You Attend
Organizations are challenged with:
• Defining the marketing strategy and communicating it to managers and employees
• Implementing the strategy by selecting and monitoring the vital key performance indicators (KPIs) with their targets to align the workforce with the strategy
• Accurately reporting and analyzing product, service-line, channel, and customer profitability including full visibility of their costs
• Maximizing the ROI from customers (to retain, grow, win-back, and acquire the most profitable ones)
• Improving the ineffective annual budget process and preparing to shift to driver-based rolling financial forecasts. Volatility and uncertainty are here to stay
• Using analytics to support fact-based decisions. Expanding to predictive analytics
• Assuring that process improvements (e.g., lean management) actually increase productivity
Areas Covered in this Webinar
• How strategy maps and their companion balanced scorecards communicate strategic objectives with target-setting to help cross-functional employee teams align their behavior to the strategy and better collaborate
• Why measures of channel and customer profitability and customer value are now superceding profit and service-line measures – and shifting from product to customer-focused organizations including future potential value – customer lifetime value
• How activity-based cost management (ABC/M) provides not only accurately traced calculated costs (relative to arbitrary broad-averaged cost allocations), but more importantly provides cost transparency back to the work processes and consumed resources, and to what drivers cause work activities
• Reforming the broken annual budgeting process with performance based budgeting that links strategy to operations and is process volume sensitive rather than simply incremental at each cost center
• Why business analytics, with emphasis on predictive analytics and pro-active decision making, is becoming a competitive advantage differentiator and an enabler for trade-off analysis
• How all levels of management can quickly see and assess how they are doing on what is important – typically with only a maximum of three key performance indicators (KPIs)
• How to integrate performance measurement scorecards and ABC/M data with:
o Strategy formulation
o Process-based thinking and operational productivity improvement
o Channel/customer profitability and value analysis and CRM.
o Supply chain logistics
o Lean management system (Six Sigma, cost of quality)
1. How to view enterprise and corporate performance management (EPM/CPM) as the seamless integration of managerial methods rather than as a process.
2. How to identify and differentiate strategic KPIs in a balanced scorecard and operational performance indicators in dashboards.
3. How to perform “predictive accounting” for driver-based budgets / rolling financial forecasts, what-if analysis, and outsourcing decisions.
4. How to imbed statistics and analytics into product, channel, and customer profitability analysis.
5. How to overcome implementation barriers such as behavioral resistance to change and fear of being held accountable.
Who Will Benefit
• C-suite Executive
• Financial Officers
• Financial Controllers
• Managerial Accountants
• Cost Accountants
• Financial Analysts
• Strategic Planners
• Supply Chain Managers
• Process Improvement Managers
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