We’ve discussed the implications, processes, and benefits of implementing a Financial and Operational Performance Management (FOPM) solution in your organisation.
Once you’ve followed the implementation steps and kicked off the process, it’s important to remember that the organisation will gradually (or suddenly, in some cases) change. Automation of the planning, budgeting, forecasting, analysis and reporting processes allows you to anticipate performance gaps, analyse root cause, assess alternatives, and enable more effective decision-making and execution.
Managing the transition is the key to ensuring the long-term success of your new FOPM solution.
The initial FOPM challenge: Restructuring your performance management and reporting team.
With an entire system dedicated to the daily tasks that used to dominate your employees’ time, a restructure will be in order. How can you redeploy your workforce now, to ensure that they are challenged and motivated in the new way of working?
You aren’t playing ‘catch-up’ anymore
Educating your workforce around the new capabilities of the software will allow the teams who dealt with the last-minute panic and crisis management to now look forward, and proactively resolve and plan to improve your financial processes.
Allowing this learning to accumulate and spread is important.
Evaluators and analysts are now the keystones of your FOPM team.
Training teams to analyse and interpret the data now becomes more important than finding and logging data.
With automation, you now have a smooth and simple process, which means the analytical brains in your organisation can come out to play. Remember to allow for this when you do the final restructure, and plan for a team to actively focus on improvements going forward.
Managing a more efficient team
Your teams will now be happier, more efficient, and much more productive.
Remember: The challenges have become more manageable and the work is more stimulating, so optimising your teams to steer this output and drive business growth is key.
A management style change might be required, or a full overhaul of the organisation’s structure.
This is entirely up to you, but critical to consider in the user acceptance testing phase.
Find out more about how your organisation will change by discussing your needs with Cortell’s team of expert consultants. Mail email@example.com or call us on 011 804 2208