Improve your corporate performance management with our EPO Suite
In these turbulent times, it is harder for enterprises to successfully navigate towards the goals they have set themselves and promised to stakeholders. More and more organizations are looking to corporate performance management solutions to overcome the challenges of the modern business environment.
Managers need to be constantly alert to early warning signs of issues and opportunities, quicker at making better and more accurate decisions and increasingly agile in formulating and implementing strategic and tactical responses. Through activity based costing software and budgeting software, organizations can monitor costs in relation to departmental performance, improving efficiency and overall cost effectiveness.
Achieving this means integrating key performance management processes, and underpinning them with a single source of robust and reliable data.
This new perspective is typically labeled “Corporate Performance Management“ with vendors of traditional BI tools quick to adopt it. But at ALG we go beyond reporting and analytics. Our mission is to provide intelligent applications that transform data to create the insights that enables managers to make the very best of the opportunities they face and the resources they have available. That’s why we call our vision “Enterprise Performance Optimization”. It’s about helping people deliver their very best performance.
Activity based costing (ABC) has been in use by organizations adopting corporate performance management solutions for more than two decades. ABC facilitates the effective use of organizational resources, earning its reputation as a valuable tool for effective cost management and profitability optimization.
However, despite activity based costing demonstrating significant and tangible returns for organizations adopting corporate performance management solutions, others still view it as too complicated and time consuming.
Activity Analysis is a Web-based activity based costing application offering an easy solution to both these issues, speeding up data collection and reporting, enabling enterprises to replenish corporate performance management solutions more frequently, put reporting directly into the hands of users and make greater use of the ABC information.
Activity based costing is a proven methodology for pinpointing a business’ most profitable customers, products, regions or channels, as well as uncovering the costs of individual business processes that may need to be improved in order to drive higher profit levels. This helps organizations make informed decisions on such issues as:
- Setting pricing and discounting strategies
- Managing the product and customer portfolios to optimize profitability
- Managing customer relationships to ensure that the cost to serve is in line with their potential for profit
Activity Analysis addresses the traditional barriers to implementing activity based costing by combining the functionality of ALG’s Metify ABM tool with the benefits of the Enterprise Performance Optimization (EPO) Suite. These include Web-deployment, Work Manager, an open database architecture and easy integration with the rest of the EPO applications.
Performance Management helps executives plan strategy and set the future direction of the organization. It can also help them to communicate performance goals and cascade objectives down to operational areas, using Key Performance Indicators. This ensures that departmental plans are aligned to the corporate performance objectives, and that line managers understand their involvement in the business goals.
The pressure on organizations to plan and budget more efficiently keeps growing, but significant barriers remain. In recent years the sole focus has been to make data more reliable and the process easier to manage. However, despite being more efficient, such budgeting software applications still fail to add value to the enterprise as the process they support remains fundamentally unchanged.
Predictive Planning is a budgeting software application that frees managers from simply budgeting line item costs and encourages them to collaborate and focus on assessing future demands on the enterprise.
By uniting the operational and financial realms of the organization, Predictive Planning enables continual adjustments to operating plans and budgets with new data that reflects changes in organizations and markets. This ensures resources are aligned and capacity optimized to produce a dynamic budget capable of real time re-forecasting.
Process Simulation uses activities and costs from the EPO Suite’s activity based costing software application Activity Analysis to simulate business processes. Users can compare multiple options for improvement, and ultimately optimize business processes to raise efficiency and reduce costs. Results can be accessed by other EPO applications to show the overall impact on profitability.
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