Research conducted by PeopleSoft Europe has revealed that as many as 78% of organisations` managers are paying mere lip-service to the importance of business performance management information.
However, organisations are beginning to understand that effective performance management can now be enabled using the latest open, easy to use, collaborative systems provided through PeopleSoft Business Analytics.
Business Analytics integrates an organisation`s internal and external information to measure and analyse true business performance, presenting managers with in-depth information of productivity levels. Some 91% of the survey respondents agreed that the performance of their organisation could be improved as a result of better access to such information.
PeopleSoft conducted the research by polling the views of delegates at The European Balanced Scorecard Summit, held in Nice, France in May 2001.
Despite only 24% of respondents admitting to scepticism about the use of performance management information, nearly four out of every five respondents said managers preferred to trust their gut instincts when making business decisions.
Amanda Buckley, international business consultant, PeopleSoft Centre of Excellence, said: "The results highlight a growing trend in organisations desperately wanting to use performance management information to improve their business processes, but that most are making inadequate investment to achieve information that will provide a sound basis for strategic decision making. It appears that managers have been forced to make strategic decisions based on intuition because of a lack of relevant, reliable and timely information."
According to Dale Thomas, general manager for PeopleSoft UK, Ireland and Northern/Central Europe, Business Analytics offers a comprehensive base for analysis while maintaining its niche application focus.
"Workforce Analytics allows an organisation to proactively manage salary, benefits, environment and growth opportunities to help attract and keep the best and the brightest employees. Customer Relationship Management Analytics offers insights about customers` buying patterns, pre- and post-sales behaviour, and retention factors to determine how to service customers," he says.
He explains: "Financial Analytics provides strategic and financial measures to help identify the most profitable aspects of a business. Supply Chain Analytics improves supply chain effectiveness. Through Profitability Management for Financial Services, PeopleSoft has created the first integrated suite of analytics for banks and other lending institutions, combining such industry-specific analytic engines as Funds Transfer Pricing, Risk Weighted Capital, and Asset Liability Management with Activity-Based Management, the Balanced Scorecard and Profitability Insight."
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PeopleSoft Inc is a world leader in providing e-business applications that enable people - customers, suppliers, and employees - to power the Internet.
PeopleSoft`s pure Internet Customer Relationship Management, Supply Chain Management, and Enterprise management solutions provide the industry`s most open and flexible e-commerce platform. PeopleSoft employs more than 8 000 people worldwide, including 2 400 e-business consultants.
More than 4 700 organisations in 107 countries run on PeopleSoft e-business applications. For more information, visit us at www.peoplesoft.com
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