Why is benchmarking so critical to improving performance?

1. Enables to identify the "critical few" that most impact business performance
2. Benchmarking is the first step in setting performance/business objectives
3. Need for meaningful comparaisons with entities outside the firm.
4. First step in establishing effective asset management strategies.

• Performance improvement projects and resources are targeted
• Improved capital gains and dividends thus exceeding shareholders’ expectations
• Enhanced image and profile by creditors and financial communities resulting from a focus on asset management
• The adoption of a framework for .
• Rallying employees and inspiring excellence

Performance Measurement Approach

The methodology used and systems’ approach perspective bring to your organization fast and coherent results aligned to your targeted objectives.

1. Explain the diagnostics and identify needs and requirements
2. Signing of confidentiality agreement and presentation of the communication plan
3. Develop the required data list and its format in order to perform the diagnostics
4. Analyze the data
5. Interview selected managers as required
6. Prepare Finale report and explore findings

The first step in putting together a performance management framework (including dashboards and specialized reports) is to measure and bechmark a firm's current performance against 4 major dimensions. Through specilized benchmarking and research firms, Technology Partnerz also provides you an external view on performance based on what is going on in your market/competitors.

The main objectives of Technology Partnerz performance measurement approach is to  :

• Determine the impact of each performance variable on current performance using sensitivity analysis
• Define digital dashboards that identifiy potential improvement opportunities to optimize the performance equation
• Review and analyze current processes and value adding activities and key performance indicators (KPIs)
• Benchmark your KPIs v/s others in similar industries
• Develop recommendations  and solutions to improve the organization performance using :
   

Modeling forecasts and objectives using predictive analytics

At the heart of Predictive Analytics lies Business Performance Modeling, which consists of translating a mental model into a mathematical one. When you think about your business, you often will think of abstract notions such as profit or margins. These are mental constructs because their are no physical representations of profit or margins (except a pile of cash) only mathematical ones.

Predictive analytics start with a model...

Technology Partnerz expert facilitators and consultants work with your team to construct predictive analytics models using business intelligence, simulation, optimization and forecasting, which enable the disciplined application of scientific method and the laws of nature to more easily solve complex management questions.

• Descriptive models  to describes a situation and its relationships. Through comprehensive research and stakeholder interviews, we incorporate variance into the model using Monte-Carlo Simulation. This process enables us to better understand the interactions between the variables as well as what factors drive our final answer.
   
• Optimization models  based on descriptive model where variables under the organization's control are identified and optimized to find the best possible situation or outcome.
   
• Forecasting Models to integrate demand, supply or cash-flow variance over time into planning scenarios.

   

Business Valuations Product Line Optimization Inventory Control Sales and Demand Forecasting Vendor Selection Process Optimization Budgeting and Forecasting

Total Cost of Ownership Analysis Project ROI Analysis Portfolio Selection/Optimization Project Critical Path Optimization Cost & Schedule Estimation Project Stress Testing

The journey to performance starts with a map

Whether you are looking at internal processes or those that span multiple organizations, a client will always have a supplier (or suppliers) providing it with necessary inputs to carry out its value–adding processes. This means that within the same umbrella there are at least 3 sets of value-adding processes – Upstream (Buy), Transformation (Make) and Downstream (Sell).

Technology Partnerz assists organization to develop these processes in ways that are Repeatable, Measurable, Predictable and Aligned to business and technological capabilities. We use cutting edge methodologies and tools such as Monte-Carlo Simulation, Stochastic Optimization and Discreet event simulation. 

If you want to learn more about how simulating and optimizing your processes is both good for profitability and the environment, call one of our Process Re-Design Experts at 1-888-879-8440

Business Process Modeling Approach

Identify core processes and business design opportunities that translate into quantifiable and qualifiable results

• Identify core processes and business design opportunities that translate into quantifiable and qualifiable results
• Identify business process optimization and re-design opportunities
• Quantify and qualify business process objectives and scope
• Assess alignment between current processes and the organization's strategic, organizational and operational objectives
• Gap Analysis between the current configuration (AS-IS) and future business configuration(s) (TO-BE)
   

Work with Stakeholders to design business processes that are repeatable, measurable, predictable and aligned with objectives

• Benchmark performance against: top performing departments/business units, history, best practice, industry/sector.
• Integrate metrics and Key Performance Indicators into business processes
• Integrate Predictive Analytics concepts and tools into process management
   
   

Align and configure technology resources to support and leverage processes and organizational capabilities.

• Review and analyze gaps between business processes and system workflow configurations
• Integrate process measurement tools and indicators into system reporting/dashboards
• Design digital dashboards for organizational deployment
• Develop business integration/adoption strategies for business process modeling and management applications
• Work with stakeholders and business process owners to design and/or review the performance of business processes and their alignment with corporate objectives.
• Process mapping and documentation of current situation
• Align Organizational Design and Structure through the development of a Business Process Architecture
   

Ensure that the development, deployment and management of business processes take into account the human factor - critical to the success of any business process initiative.

• Coaching and process training to develop the skills and competencies necessary for your people to succeed in the new business environment
• Align compensation and structures to support the success of new business processes
• Organizational change management to support the smooth adoption of innovations and business processes.
• Stakeholder management and relationship building

Performance Management Approach

The challenge with implementing an effective business performance framework is that anything can be measured and managed. For this reason, success lies in identifying and focusing on the right performance indicators.

Establishing strategic priorities and objectives where measuring and managing business performance translate into quantifiable and qualifiable results

• Comprehensive diagnostics to identify needs and opportunities where measuring will translate into better decisions from management and operations.
• Establish a Business Performance Management road map for organizational adoption and integration into day-to-day activities
• Develop and prioritize a portfolio of measurement opportunities
• Establish appropriate budgets requirements and resources for measuring key business information.

Using Technology resources and capabilities to obtain data and automate analysis from operating and business intelligence systems.

• Review of reporting systems and their outputs
• Map and understand reporting and technology infrastructures
• Review of reporting workflows
• Establish current systems reporting and measurement capabilities
• Develop Business Intelligence Reporting and Dashboard process/tools specifications
• Integrate metrics and Key Performance Indicators into business systems
• Predictive Analytics system specifications
   

Integrate measurement and performance management into day-to-day decision making and operating activities.

• Establish impact of better measurement practices on the organization’s core processes
• Identify Key Performance Indicators and Metrics necessary to drive performance
• Benchmark performance against: top performing departments/business units, history, best practice, industry/sector.
• Corrective action frameworks
• Integrate metrics and Key Performance Indicators into business processes
• Develop and integrate Predictive Analytics processes using available process and performance data.
   

Use Business Performance Management to align people to business objectives and performance requirements 

• Assess how information is used to make key business decisions
• Map decision making networks within the organization to understand how business performance information circulates among key stakeholders
• Training on the skills and best practices to: share and communicate performance management information
• Analyze information from reports and dashboards quickly and effectively.
• Translating analysis into corrective action
• Leverage predictive analytics tools and concepts in day to day activities