Cranfield survey results support Performance Management
A new comprehensive Business Performance Management survey by Cranfield University and Hyperion at (the CFO's of) the 5,000 largest organisations in the United States resulted in two key findings:
1. Organizations with a formal BPM approach believe they out-perform organizations without a formal BPM appoach
2. Most organizations using packaged or custom BPM aplications to automate their BPM initiatives report better performance in the activities of the performance planning value management chain than those using ERP appliactions or spreadsheets.
At a more granular level, Cranfield Research Fellow Bernard Marr reports:
- Build a Business Model - Companies with a formal BPM approach report that they more often use causal models to build a hypothesis and link objectives and performance measures to the firm strategy.
- Collect Data - Companies with a formal BPM approach report higher data quality and increased consistency in how they measure performance.
- Analyse and Interpret Data - Companies with a formal BPM approach report improved interpretation of their performance information.
- Extracting Insights - Companies with a formal BPM approach claim to extract higher quality insights from their performance information.
- Communicate Insights - Companies with a formal BPM approach report that they better communicate their insights.
- Decisions and Actions - Companies with a formal BPM approach report better execution of their decisions and actions.
You can download the survey at www.hyperion.com/cranfield