Overview
Most companies invest significant time and effort in creating strategic plans as part of their performance management (PM) activities. Yet, these plans often fail to deliver the desired results, leaving organizations to wonder what went wrong.
Even the most brilliant strategic plan will be unsuccessful if it is not communicated effectively throughout the organization, supported with the appropriate resources, implemented fully, monitored and assessed frequently, and adjusted as business conditions change. Enterprising companies leverage technology to help bridge this gap between strategy and execution.
Infor10 CPM Strategy Management provides an intuitive framework for linking strategic plans to operational plans, performance measures, and people. With it, you gain a visual method for reporting on how the actions of operating units and individuals are contributing to the success of organizational goals.
Using Strategic Management, you can see whether your plan has been implemented, to what degree, and how well. You can monitor key performance indicators (KPIs) and gain insights into why some actions are successfully supporting goals and others are not. You also can pinpoint initiatives that can be eliminated without negatively impacting strategic goals, enabling you to more effectively assign and focus your resources.
Because no two organizations are alike, Strategic Management offers the flexibility you need to create, manage, and measure the success of your unique plans.
Creation and collaboration—accountability
Simplify plan creation and participation with Strategic Management, which features an easy-to-use, click-and-drag interface; web access; and a single database, ensuring that everyone works with the same information. Senior executives often use the software to define high-level strategies, and then forward the plan to their operational managers to define supporting activities and measures and
assign responsibilities to specific departments or individuals. These system users can include links to spreadsheets, discussion threads, reports, and other supporting elements that document the assumptions, business trends, and other factors considered during the plan’s creation. Once the plan is released, system users at all levels of the organization can monitor the ongoing results of activities for which they are responsible, improving accountability.
Methodologies and measures—flexibility
Infor recognizes that no two organizations have the same planning style. So while Strategic Management is Balanced Scorecard Collaborative Certified, it also supports planning methodologies including traditional, Hoshin, Six Sigma®, EVA®, and others. To provide this flexibility, Strategic Management enables you to work with not only financial measures, but also with non-financial measures such as customer satisfaction ratings, training hours completed, employee retention, and more.
Reporting and results—understanding
Strategic Management provides built-in reports to help you fully understand your business performance. A color-coded overview report illustrates how well and to what degree your strategic plan has been implemented. Additional reports enable you to compare actual results against planned results, track costs and revenue by initiative, identify trends, monitor KPIs in real time, view performance of individuals assigned to carry out tactics, assess the impact one plan element is having on other elements, and more.