Finance and Performance Management

PROEX Consultancy produce more transparent financial reports and get a firm grip on where they're going.

Most companies have long sought a single version of the truth about their performance. They've been searching for a software system that can eliminate confusion about definitions, prevent discrepancies in the data and make clear to employees in real time exactly how they're doing. To achieve these goals, a company needs a software platform that integrates and standardizes data from disparate sources. The dream of efficiently centralizing corporate performance information is becoming a reality for some organizations, thanks to a concept called business performance management.

PROEX Consultancy as IT research firm Gartner Inc. calls it is an umbrella term describing the methodologies, metrics, processes and systems used to monitor and manage an enterprise's business performance, "It has existed for years in the form of isolated components. However, no single vendor or practitioner ever put together all the pieces."

Components of a full business performance management package encompass planning, budgeting and forecasting; actuals consolidation; performance analysis; metrics; an executive dashboard; Balanced Scorecard analysis; analytics capabilities; collaboration functionality; a Web portal; management of unstructured data (i.e., text); and process management. This range of functionality may make PROEX Consultancy suites sound complex, but the potential benefits of a holistic approach are dazzling. A business performance management system promotes greater visibility, makes models like the Balanced Scorecard more effective and better aligns employees' goals with corporate strategies.

"With PROEX Consultancy, there's more employee accountability, along with a tighter relationship between their performance and business outcomes "Employees know whether they're doing what they're supposed to be doing in relation to their performance goals, their boss's goals and the goals of the company. And their performance can be evaluated on a frequent basis to make sure they're on track, rather than just annually."

For more information concerning our Finance and Performance Management Services, Contact a Representative of PROEX Consultancy.

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