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Financial Performance Management is a collection of activities that help ensure finance organizations achieve optimal efficiency while focusing on the effectiveness and performance of the organization. We define it as the process of addressing the often overlapping issues that affect how well finance organizations support the strategic objectives of their company and the activities of the rest of the organization, and manage their own operations. FPM deals with the full cycle of the department’s activities, including corporate and strategic finance, planning, forecasting, analysis, closing and reporting. Balancing the time spent on these activities as well as reviewing and improving these processes is an ongoing challenge. How well the finance organization achieves this balance and executes its tasks affects not only its performance but also how well company operates and achieves its objectives. Too often, though, senior finance executives fail to achieve a good balance. They also tend to approach improvement efforts piecemeal, rather than approaching it strategically.
Achieving the best results from your finance organization requires the application of best practices across the four core dimensions that drive performance: people, process, information and technology. The impact of your efforts and perspective on your organization can be multiplied when combine with the additional knowledge and insight we can provide.
Our benchmark research and experience shows that organizations such as yours can improve its long-term performance by addressing the people, process, information and technology challenges in a coordinated fashion. For many the task of addressing their company’s or finance organizations problems may seem overwhelming. Sometimes it is hard to even know where to start. However, the information and perspective on this site should help you start achieving the full value of financial performance management in your company.
Best Regards,
Best Practices
Industry Best Practices White Paper on FPM (PDF)
Research and experience cultivated in practical steps and insight to improve results
Industry Webcast on Best Practices in FPM (WMV)
Discussion on steps to improve your financial processes and technology
Industry Presentation on Best Practices in FPM (PDF)
Presentation on steps to improve your financial processes
Financial Performance Management for the 21st Century Executive Summary (PDF)
A CFO’s agenda for using IT to align strategy and execution
Business
Finance Must Play a Role in Sales and Operations Planning
shows top companies regularly merge financial outlook with sales and operational plans
Managing Customer Profitability
A Strategic Initiative for Finance Executives
Don’t Mind the GAAP
Manage to operational and financial metrics, not just accounting numbers
The Effective CFO
For finance leaders, efficiency isn’t enough any more
CFOs of Midsize Companies Can Do More
IT helps Finance take a strategic role
Technology
Expanding Finance’s Horizons
Planning and Reporting Must Include External Information
Priorities for Management Reporting in 2008
To improve performance, companies must extend the scope of their reporting
Resolving the Spreadsheet Paradox
Practical solutions to spreadsheet problems exist
Cognos Updates Controller and Planning Applications
New 8.2 versions build on strong foundation
Getting More from Scorecards and Dashboards
Research reveals shortfalls in timeliness, accuracy and adequacy of information
