Performance measures go beyond financials.Business factors such as profit optimization, better business planning and improved operational visibility are key factors, along with corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. , in driving business performance initiatives, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a survey by the Business Performance Management (BPM (Business Process Management) A structured approach that models an enterprise's human and machine tasks and the interactions between them as processes. BPM software provides users with a dashboard interface that offers a high-level view of the operation that typically ) Forum. Seventy percent of respondents have also moved beyond financial data to incorporate marketing and customer information in performance assessment, suggesting a more holistic and comprehensive approach. These findings are part of an in-depth poll of members of the BPM Forum, an organization formed last year that includes more than 230 business executives and thought leaders. Its lofty aim: to address the growing challenge of performance management, corporate accountability and compliance in global enterprises. The survey results point to a shifting landscape in BPM, in which performance accountability is increasingly entrenched en·trench also in·trench v. en·trenched, en·trench·ing, en·trench·es v.tr. 1. To provide with a trench, especially for the purpose of fortifying or defending. 2. in the executive suite. Ninety-five percent of respondents are somewhat or extremely sensitized sensitized /sen·si·tized/ (sen´si-tizd) rendered sensitive. sensitized rendered sensitive. sensitized cells see sensitization (2). to the need for better business performance management, and 76 percent look to the president, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. or CFO See Chief Financial Officer. for BPM mandates. Not surprisingly, 73 percent of respondents said they are somewhat or very concerned, as a result of the Sarbanes-Oxley Act See SOX. , about the processes, tools and methodologies used by management to track performance. While this figure is lower than the 85 percent of corporate directors asked the same question in a BPM Forum poll released last July, compliance clearly continues to concern executives. Asked about the major challenges to deployment of BPM solutions, members highlighted insufficient processes (59 percent) and data collection systems (51 percent), along with the cultural issues around such changes (49 percent). "We are hearing from the BPM Forum membership, our customers and the marketplace at large that companies need to resolve information quality as they move along the path to compliance and improved performance visibility," said Nazhin Zarghamee, chief marketing officer at Hyperion, a founding sponsor of the BPM Forum. He noted that the BPM Forum is developing white papers, executive dialogues and industry roundtables to help professionals tackle such challenges. These findings and others are part of a comprehensive survey report available at www.bpmforum.org. How BPM is improving Organizations Better business planning 74% Improved visibility 69% Better budgeting and forecasting 58% Better business intelligence 36% Enhanced compliance 13% |
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