What is business performance management?
Business performance management builds on a foundation of business intelligence, but marries it to the planning-and-control cycle of the enterprise - with enterprise planning, consolidation and modelling capabilities. It consists of a set of management and analytic processes, supported by technology, that enable businesses to define strategic goals and then measure and manage performance against those goals. Core business performance management processes include financial planning, operational planning, business modelling, consolidation and reporting, analysis, and monitoring of key performance indicators linked to strategy.
Read my previous post: Corporate Performance Management – BI, budgeting and planning working in harmony.
Challenges of delivering BPM
Despite assertions to the contrary by multiple vendors over the last two decades, business performance management has remained more promise than actuality. In virtually all offerings in the global market, delivering true business performance management (BPM) as described by Gartner has meant implementing at least two, and sometimes three disparate software systems.
A combination of license acquisition cost, time to implement (incurring both internal and external people cost) together with the direct and indirect costs associated with ongoing support and enhancement of multiple systems have seen the two key pillars of BPM, budgeting/planning and analytics/reporting, evolve as silos of information rather than a homogeneous solution.
Six Degrees from Theta was designed to specifically address this problem. It offers a single solution for all aspects of BPM within one system, eliminating the challenges inevitably faced with integrating two or more separate systems.
Our approach was not to try and build a budgeting and planning solution, and then develop or bolt on an analytics/reporting capability. Rather it was to start with a an industry leading business intelligence solution which offered all the reporting and analytics functionality needed to support and enhance the BPM cycle - from strategy through to detailed analysis.
MicroStrategy was our platform of choice.
MicroStrategy has been consistently rated one of the top BI platforms for the last 20 years. It provides an unmatched level of business intelligence capability coupled with an open architecture. This allowed us to develop additional native functionality to deliver world class budgeting and planning from MicroStrategy dashboards and a Microsoft SQL Server star schema relational database.
Six Degrees is a MicroStrategy application, installed in a MicroStrategy environment as a native project, using the MicroStrategy Intelligence Server infrastructure.
By bringing budgeting and planning functionality to a business intelligence platform, Six Degrees delivers on the promise of BPM and provides enterprise planning, consolidation and modelling capabilities.
Six Degrees offers reduced software acquisition costs, decreased implementation time and cost, contained lifetime costs leveraging existing infrastructure and in house skills, and enthusiastic user adoption of ‘one source of truth’ for both history and future plans.
MicroStrategy and Six Degrees are inextricably linked, uniquely and jointly delivering true business performance management.