By David Parmenter

With the economy in downturn and many businesses facing challenging times, we should be measuring business performance in a new way.

Our traditional tools and processes for performance measurement are more akin to Charles Dickens than the 21st century, and thus more appropriate for the Victoria and Albert Museum than a fast and flexible organisation. We need to look at what we can do immediately and the changes we need to work on in the next six months.

  1. producing meaningful weekly snapshots and dashboards instead of monthly financial reports
  2. forecasting – telling management want they need to know rather than what the want to hear
  3. replace the annual planning process with quarterly rolling planning
  4. Ascertain the organisation’s critical success factors and have them on every wall in every office to create more alignment of  effort
  5. reset growth targets
  6. performance related pay will need reworking

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Next steps

Purchase one or more of these toolkits which will guarantee you improvements if implemented.

Finding your Organization’s Critical Success Factors – Toolkit (Whitepaper 115 pages+ electronic templates)

How to Implement Quarterly Rolling Forecasting and Quarterly Rolling Planning – and get it right first time – Toolkit (110 page Whitepaper + electronic templates)

Lean Practices to Transform Your Finance Team – Toolkit (120 page Whitepaper + electronic templates)  

One-Page Finance Team Reporting Templates (90 page Whitepaper + electronic templates)

20+ System Improvements for the Finance Team – Toolkit (100 page Whitepaper + electronic templates)