business process management system bpms
In today's regulatory environment, the timely, accurate and complete is more vital than ever. While traditional business intelligence (BI) have dominated the business environment based on its ability to rapidly query, access, and then report on information, often lack the processes and metrics necessary to measure and manage business performance. As a result, the business performance management (BPM) solutions are quick momentum as a more complete way to address the need for financial intelligibility and provide users a way to act on information.
"Companies are beginning to realize that traditional business intelligence is not sufficient to improve business performance, "said Crispin Read, Director of Marketing, Cartesis, a specialist leader in the world of finance and performance management software business. "BPM solutions are filling this vacuum, allowing companies achieve quicker, more flexible plotting cycles and financial details. "
BPM: a more integrated approach BI
Business Intelligence Solutions unlock critical information management and try to place information in front of choice makers who need to run the business. But, one challenge with BI tools has been that they do unlock data are not always consistent across the enterprise. For example, BI tools can not add revenue figures in different currencies, as the lack of financial intelligence to translate from one currency to another.
Another area where the Business intelligence solutions have fallen small is in the treatment of the requirement for financial intelligibility, one of the reasons some traditional BI vendors have bought BPM providers to the financial capacity and performance management. The need is greater intelligibility in the funding departments on the specific challenges demand only a set of numbers and, ideally, a set of applications. Whereas a business user of a BI query tool is satisfied with the make pleased it receives and how it helps to look at the definition of actions next week the order, the Group Controller or CFO needs more precise information real-time mission-critical functions such as budgeting, plotting, compliance with financial reporting standards, and performance improvement.
BI infrastructures have also become increasingly complex and expensive, with generous companies to manage the silos that involve tens of OLAP databases, data integration tools, reporting tools and report viewing and analysis tools.
The evolution of perfection to meet to these BI challenges is BPM with its more integrated and holistic approach.
"Performance management is a kind of changing the mindset of BI and moving it away point approach in the case of five or six pieces of information, "said John Van Decker, Senior Vice President and Principal Research Fellow at the Robert Frances Group, IT research and advisory firm based in Westport, CT.
Precision and control
Beyond intelligibility, BPM systems, including 10 corporate performance management Cartesis private, to ensure consistency and accuracy of the information that departments financial need to meet the requirements of external stakeholders, legal and regulatory bodies. Financial information can not be used if it is not 100 percent accurate, and there is a tremendous cost if it is inaccurate, including the possibility of criminal charges against the CFO and other employees. And with so much riding on the accuracy of the numbers of the business, finance departments need greater control over budgeting and reporting – and the ability to look deeper into the numbers.
"Companies have to report the exact number, if they do then they are in infringement of a series of laws and penalties are reduced business and people who work for them, "Read said Cartesis. And the accuracy is not the only mission-critical financial and legal consolidation, but applications information for plotting, budgeting and forecasting, said. "If you do not know, at the end of the month if you are over budget or under budget, then you are flying blind and you crash the company. "
Once a corporation is right that this is accurate, obtaining that information to key choice makers quickly is vital. Cartesis 10 uses a single data model that ensures a source of accurate, data processing consistent between applications and between people and business. The package also provides audit controls to allocate the finance department to users to review and verify each step of the source accounting disclosure.
Meet with a specialist Cartesis to discuss how their business can benefit from Cartesis 10.
About the Author:
Dean Lombardo
Cartesis: Business Performance Management (BPM)
http://www.cartesis.com/en/
Article Source: ArticlesBase.com – Business Performance Management: the Critical Piece of the Bi Puzzle
