19March 2019Elevating Enterprise Performance Predictably and ReliablyBy Rajan Nagarajan, SVP Supply Chain & Digital Transformation, CTI FoodsIn today's dynamic global business environment organizations must sustain the critical linkage between strategic planning, business planning, and effectiveness of execution. The predictability and, more importantly, the sustained improvement of organizational performance are directly attributable to this linkage. Enterprise Performance Management (EPM) provides a powerful competitive foundation for organizations to elevate their capability and performance when they treat EPM as a way of doing business- the norm not the exception!While EPM has been around more than a decade it has had limited success. Historically this "methodology/tool" has been introduced by and driven from within the Finance departments in organizations. There have also been other variants of EPMCorporate Performance Management (CPM), Financial Performance Management (FPM), and a few others. It could be argued that the broad definition of how these methodologies are defined and driven within different organizations lies in organizational placement rather than the underlying "concept and objective". UltimatelyEPM and its variants focus on improving business performance in a predictably reliable manner. In this paper the author explores two key themes: 1. What are the challenges in making EPM a core discipline across the entire organization?2. How can organizations ensure that EPM delivers to its promise of enhancing business performance?What are the challenges in making EPM a core discipline?There are multiple reasons for lack of stickiness for EPM and the inability of firms to harness this methodology as a foundational requirement. Some of the more common reasons are 1) EPM is perceived as a finance driven initiative and this perception results in no cross-functional buy-in, 2) EPM may be considered the "Flavor of the month" program, prompting limited attention from employees, and 3) EPM is often mired in the classic "An IT solution can get it done syndrome".In addition, there are some even deeper challenges that have not received the warranted attention in many organizations. There is lack of a well-defined purpose as to why EPM is important that is uniformly communicated across the organization. Often, EPM tracks financial metrics CXOINSIGHTS
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