Redesign of reporting and processes enables $4B Manufacturing company to standardize KPIs and create “one view” of business performance
Business Challenge
- Challenge Linking Operational Activity with Financial Outcomes – Inability to adequately measure, monitor, and manage the operational drivers impacting financial performance
- Minimal Forward Looking Visibility – Existing reporting and analysis heavily skewed towards historical financial variance comparisons at the expense of more strategic leading indicators and operational KPI’s
- Heavy Dependence on Custom IT Created Reports - Lack of robust self-service reporting, dashboards, and ad hoc capability
Solution
- Co-developed a Future State Reporting Vision – Defined created critical information needed to optimally measure and manage the business including KPIs & Metrics at an enterprise and function level
- Focused on Strategic Alignment – Aligned KPIs & Metrics to strategic objectives through the use of an enterprise strategy articulation map along with cascaded KPI’s
- Redesigned Business Processes – Streamlined and enhanced existing reporting processes, improved reporting related governance, established common analytic view of performance across the business
Impact
- Standardization and Consistency – Standardized process for measuring KPI’s and value drivers provided “one view” of business performance, created greater alignment, and supported better resource allocation decisions
- Connected to Company Strategy – Enabled more consistent use of information throughout the organization tightly linked to company strategy objectives and “change the business” initiatives
- Business Performance Insights – Improved visibility into operational and financial performance with faster cycle times to effect key decisions
