Performance Management
Practice

Broadpeak Consulting’s Performance Management Practice helps organizations manage their enterprise wide performance from designing to implementing leading practice based performance management solutions.

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Organizations typically focus on measuring  financial performance instead of closely monitoring the key drivers of performance, thus limiting management’s view to post fact indicators only.

In addition to monitoring the financial performance of an organization, it is imperative that non financial aspects like management effectiveness, process excellence, brand recognition, and innovation are also closely monitored. This provides a more holistic view of an organization's performance, and facilitates decisions that lead to long term survival of the organization.

The corner stone to developing an effective and successful performance management framework is, a creation of a holistic description of the strategy, termed as a ‘Strategy Map’ by Kaplan & Norton. This lends itself to identifying critical objectives, measures and initiatives required to drive performance across intangible aspects that are critical to the organization.

Performance Diagram
 

Broadpeak Consulting helps clients develop a Balanced Scorecard based performance management framework and related reporting processes enabling them to focus on all aspects that are critical to achieving long term business success.

Broadpeak Consulting also helps in defining a Roadmap for the successful implementation of the Balanced Scorecard.

This is in addition to providing assistance in:

  • Designing subsidiary financial reporting frameworks which feed into the Balanced Scorecard. e.g. Budgeting framework, Costing Framework, Chart of Accounts
  • Defining data models, required to effectively capture and report the Balanced Scorecard information.

Our Services

The following shows how various aspects of the performance management are linked, and which service could be provided by Broadpeak Consulting:

Performance Flow Diagram

Performance Management Framework: Broadpeak Consulting  develops performance management frameworks using the Balanced Scorecard, ensuring that the information flows through to the appropriate level, which is critical for translating strategy into results.
The framework primarily includes high level management reports, Key Performance Indicators (KPIs), and reporting processes to be adopted.

Performance Management Roadmap: Broadpeak Consulting can also assist you in defining the Roadmap for the implementation of the 'Performance Management Framework', while keeping in view your priorities and business specific realities.

Performance Reporting Design:
Once the Performance Reporting framework has been defined, Broadpeak Consulting also helps in designing related dashboards and reports that are easy to use and lend themselves to analysis.

Budgeting  Framework Design: Broadpeak Consulting assists organizations in defining their budgeting frameworks that:

  • Link the strategy and business plan to the yearly budget. This ensures that budgets are not prepared in isolation of the strategy and business plan. It has a critical role to play in cascading the strategic decisions, taken at the time of developing the strategy and business plan, to an action oriented time horizon of a year or less
  • Ensure that business realities that have evolved after definition of the business strategy and plan are not ignored.

Costing Framework Design: Broadpeak Consulting assists organizations in defining and implementing costing solutions across the industries that we specialize in. The typical costing solutions include Process Costing Framework, Activity Based Costing Framework and a multi-tier cost allocation framework that facilitates allocation of overhead costs to profit centers.

Chart of Accounts Design: Broadpeak Consulting assists organizations in defining  Chart of Accounts structure, coding logic, detailed accounts and their mapping to previous Chart of Accounts, while keeping in view the performance reporting, budgeting and costing aspects, and statutory and IFRS reporting requirements. 

Implementation of Performance Management Framework Selection: Broadpeak Consulting also assists .companies in selecting an application, that not only enables the Performance Management Framework, but also ‘fits in’ with the overall technology architecture.
Implementation: This entails implementation of the design and not just the technology. Typically Broadpeak Consulting provides Quality Assurance Service to ensure that the design is implemented effectively.

 


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