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How to Build Effective Dashboards

The purpose of dashboards and scorecards is to provide key stakeholders with a high-level overview of their organization’s performance based on various metrics or KPI’s; however, different users within some organizations request different types of data to be displayed, which eventually leads to the dashboard being difficult to read and filled with non-critical data. When this occurs, the dashboard becomes irrelevant to the end user. This post will explore best practices that should be followed to create useful and informative dashboards. Know your Audience: It is important to consider who the dashboard is being designed for. The most successful dashboards target [...]

Best Practices for Budgeting and Planning

The rapidly changing business environment constantly challenges companies urging them to look for more effective business practices. What are the main factors and limitations needed to be taken into consideration for a successful budgeting and planning processes? For an effective planning and budgeting process, the following should be properly determined: Budget process definition The right software solution The correct input level KPI definition Efficiency Change monitoring Clear definition of a budget process Ensure that your process is in line with corporate objectives: For instance, if your corporate objective is to sell more units, then your budget should take into account all [...]

How a Corporate Performance Solution can improve your Capital Expenditure (CAPEX) Planning

Capital expenditure planning can be an important part of an organization’s budgeting process. The need to effectively plan capital purchases and depreciation can be critical with maintaining accurate budgeting and forecasting throughout the fiscal year. Despite the importance of maintaining effective capital expenditure plans, many firms may find the process tedious or cumbersome. This can be largely due to data inaccuracies caused by a lack of consideration to capital purchases and their related expenses, lengthy approval processes, as well as a lack of formalized CAPEX planning processes used by various departments within a single organization. However, as the need for a [...]

IBM Clarity: What you need to consider when upgrading or choosing a new CPM solution

It is up to an organization to adapt to and embrace technology in a way that adds value through improved efficiency, reduced costs and value-added service to customers. Many companies require their business systems to be running only versions of software that are fully supported by their vendor. In many circumstances, we find that companies are still using IBM Clarity 5 or 6, even though the life cycle of these product versions will come to an end. IBM (who acquired Clarity Systems in 2010) announced that the support for Clarity versions 5 and 6 will expire by the end of 2012. [...]

How Corporate Performance Management can Improve HR Planning

Organizations, now more than ever are trying to determine the impact that their HR planning has on corporate performance. In fact, the correlation between effective HR management and an organization’s performance is obvious: appointing and managing the right talent with the right compensation and position is paramount in achieving a positive shift in performance. The best way to demonstrate whether a company’s HR planning is effective is to understand how it impacts the entire organization. A holistic approach to HR planning and management will provide a clear picture of how resources are positioned and indicate if any deficiencies exist. This is [...]

Benefits of using a Corporate Performance Management Solution

Many organizations today are faced with various business challenges. From increasing sales to enhancing productivity, these challenges inadvertently affect an organization’s overall performance and bottom line. Without the presence of clearly defined goals and metrics, it would be quite a difficult task to dissect the vast amount of data available in order to determine if a company’s performance targets were achieved. Many organizations take the spreadsheet route, which might seem like a sound solution, but can lead to data integrity issues and information overload (see blog on: Key Issues with using Excel for Budgeting, Forecasting and Financial Reporting). However, more and [...]

Thomson Reuters Elite Vantage 2013 – Worldwide Conference

As a proud partner of Thomson Reuters Elite, Delbridge Solutions is pleased to announce that we will be attending the Vantage 2013 conference being held from June 24th-27th in Miami, Florida! Visit our booth (#951) to meet our team members to learn about our dedicated Thomson Reuters Elite services for Clarity, including: 3E and Enterprise Financial Reporting for Clarity Budgeting and Forecasting for Clarity Upgrades to Clarity 7 HR Planning for Clarity Product Training and Support Performance Optimization Be sure to check out our tutorial on “How to Maximize IBM Clarity 7 and Drive Organizational Performance” being held on Monday June [...]

XBRL, a Headache that won’t go away

Many XBRL filers have unknowingly exposed their companies to litigation risk…don’t be one of them. Inaccurate filings of XBRL, 10-Q/Ks, and annual reports can cost companies millions in fines, litigation, and lost market cap. Start building an effective strategy for XBRL compliance during this informative webcast. Understand current and future XBRL compliance requirements, deadlines, and liability Learn how to communicate the urgency of taking action on XBRL now to your executive team Manage the liability and litigation risks that all companies filing XBRL face Assess the pros and cons of outsourcing or “insourcing” XBRL tagging and submission Avoid the significant mistakes, [...]

Key Issues with using Excel for Budgeting, Forecasting and Financial Reporting

Are you still using Excel spreadsheets to manage your budgeting, forecasting and financial reporting requirements? If so, you are not alone. Many corporations continue to use Excel as their “go-to” solution for managing these essential performance indicators. Although this solution may seem sufficient, in reality, it can result in several inefficiencies that inevitably will warrant the need for a more accurate and effective way to do business. Some key problems with using Excel include: Data Integrity: Many corporations have multiple versions of their spreadsheets, which can sometimes lead to data inconsistencies and redundancies that compromise the integrity of the information provided [...]

IBM Vision 2013

As a proud partner of IBM, Delbridge Solutions will be attending IBM Vision 2013 in Orlando, Florida! Vision 2013 is the premier global conference for finance, risk, and incentive compensation professionals. If you are planning to attend this year’s Vision conference and would like to visit our booth, please Click Here to contact us!