Performance management (PM) can be an essential tool for small businesses as they make the transition into mid-sized organisations.

So says David McWilliam, director at Cortell Corporate Performance Management, who notes that one of the challenges that mid-sized companies face is keeping a finger on the pulse of various aspects of the business.

“Performance management includes systems and processes that establish what the business should be doing (driver-based budgets). It must also examine how the systems and processes are doing against expectations (targeted reporting and scorecards);analyse why they have not performed as expected (business intelligence); and also take corrective action (rolling forecasts),

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