One of the unexpected bonuses of implementing a Business Intelligence or BPM system throughout an organization is that it forms a consistent reporting process that continues to drive strategic objectives even when they are lost in "day to day" business issues.
There are always multiple strategic objectives within an organization and they will change over time. By developing proper reporting which is pushed out to users, it reinforces to the recipients what is, was and what will be the key drivers of the business.
Our clients continue to mention how "day to day" issues often pull them away from the "big picture" and our system continues to remind them of what is important to measure and focus on.
A good reporting solution will automate the key metrics within a department or corporation but it should also be pushing those key indicators out to users to reinforce their importance as they get lost in daily issues.
It happened today... A client told me that the system we implemented was a key component in communicating corporate objectives and keeping this CFO on track with measures he had been instrumental in developing with us but was himself guilty of losing track of when other less important issues consumed him.
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How important is better visibility to financial results in a downturn? Potential answer - We work this process -- our business has never been stronger. Probably a better question -- How does better visibility prevent the economic morass we are in today?
Too many firms have allowed the reporting of their financial results to decay into manual process. Their best financial minds waste countless hours and days jockeying numbers around spreadsheets. Worse yet, analytics from these results are overanalyzed with no return on investment of time. It is not that the data is useless, there can be no intelligence in data delivered with such poor platforms.
Unfortunately even those that invest sometimes get it wrong. We talk regularly with folks that have invested, yet have done nothing more than try to automate complex process resulting in even more trouble.
They key in our mind is to strike the right balance between process automation and allowing intelligence to enter the process. Your best minds need to own the data, not be owned by the data. Invest in your company's future. Get your smart Finance folks back in the business.
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