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Performance Management Best Practices

Why Are so Many Companies Still so Disjointed?
Everyone agrees that the various departments within a company or organization should communicate well and be fully integrated with each other. However, the fact remains that, even today, many of them are still working in silos.

For decades now, organizations have been hearing about the concept of aligning operations with strategic orientations. So, why are so many of our actions and decisions still so disjointed?

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Demystifying Information Technology
It is no longer news that information technology (IT) costs are eating up an ever-increasing share of organizational budgets. And with good reason! Internal IT services are more vital and more complex than ever. Listen in on conversations about server sizing, web hosting infrastructure or cloud computing, and you may feel like you’re lout of your depht!
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10 things to consider when choosing a software solution that combines budgeting, costing and financial dashboards
When you need to improve or optimize your management solutions – specifically, your budgeting, costing, or financial dashboard processes – there are several factors to keep in mind.

It’s the same thing when opting for a Corporate Performance Management (CPM) software solution that provides these three functions. However, deciding which CPM system to choose also means taking a closer look at several additional factors.
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Improve your IT financial management
A good IT costing system is a valuable tool for effective budgeting and IT costs optimization.

Although funds allocated to IT often represent a significant portion of an organization’s expenses, calculating and explaining their cost remains problematic. All too often the resulting jumble seems like a “black box,” making budgeting and decision-making even more challenging. This post explains how to demystify this “black box” and make more informed decisions.
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The CAM-I Performance Management Framework
A holistic approach to improving business performance

The demand today for improved performance and accountability has led to an increase in expectations around the term performance management leading to a variety of limited views as to what the term involves. To help organizations understand and improve performance, the research organization, CAM-I (the Consortium for Advanced Management – International), has recently developed a standardized and integrated framework for implementing performance management within any organization...
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Activity-based Management (ABM) Best Practices
Recognizing the potential of activity-based management, many organizations began implementing ABM projects in the 90s. In fact, a 1992 survey by the Institute of Management Accountants found only 100 implementation projects under way at that time, compared to over 20,000 at the end of 1998. Then, starting in 2000, ABM dropped off sharply. This was due in part to the millennium bug and, later, to the introduction of Bill C-198 in Canada and its American counterpart, the Sarbanes-Oxley Act...
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Costing systems: from outdated to functional and reliable
Is your costing system outdated? Does it adhere to best practices? What signs are there to indicate that your costing system is generating results that are approximate at best?
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Managing the budgeting process in accordance with industry best practices
If you are frustrated with your organization’s budgeting process then rest assured, you are not alone! For the past 20 years, studies and surveys have systematically revealed a widespread dissatisfaction with the process of establishing a budget. Those same studies show that, of all the activities performed by the finance department, budgeting generates the most dissatisfaction, for financial and non-financial managers alike.
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Cost, profitability analysis and budgeting process. What do they have in common?
Whether your organization is in the service, manufacturing or distribution sector, making a profit is never quite as easy as you might have hoped. Many companies ask themselves the same questions:
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Financial Dashboards: Have they fulfilled their promise?
Now that new corporate performance management practices are being taught at business schools around the world, various types of financial and operational dashboards, using different methods (technological or otherwise), have become increasingly widespread. They have tried to quench managers’ thirst for information in order to support their decision-making and thereby increase their organization’s performance. Has that objective been achieved, or are we still at the point of standing at the spring, but lacking the tools to draw the water?
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To what extent are you attached to your costing method?
During a recent costing consultation for a company, I came to a number of realizations. Among them, the astounding number of Excel files involved, the need to review certain drivers but, above all, the misconceptions about what costing should be. How about you? How do you perceive costing?
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Does your dashboard provide an accurate picture of the situation?
How many times have you been told that your costs are accurate and precise?
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Driver-based budgeting and planning (DBBP)
Are you constantly revising your budget forecasting? Are you having issues decoding your crystal ball? Did you think about adopting an approach where simple performance indicators could do the trick? Driver-based budgeting and planning (DBBP) can help you with a more agile and efficient cost planning and control process.
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Performance Management Maturity Framework
Performance management is mentioned and discussed in almost all facets of business. The demand for improved performance, along with increased accountability...
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