Johannesburg, 01 Oct 2015
Research company The Conference Board recently conducted a survey of 56 large international companies such as Coca-Cola, Fedex and American Express, revealing that while these businesses have little in common operationally, they all have three common elements contributing to their success. "If you examine their corporate cultures, however, a set of basic building blocks - a shared DNA - emerges that links high-performing organisations across industries and geographies, imparting a lasting adaptive advantage over the competition," explains RUBiQ's Nicky Downing.
She explains that there are a number of factors that most successful businesses have in common. The first is using resources effectively and efficiently to execute business strategies, followed by creating a culture of rigor and standards for financial stability. In addition, they require process around fiscal management, oversight and decision making. The other factors are executing strategies in an operationally efficient manner and aligning organisational structure to support business strategy.
"While many companies have some of these elements, most businesses can't identify where the weak spots are within the company and rapidly deal with them while at the same time highlighting the effective areas so that these may be strengthened," she says. "That is where a platform offering a single system to address multiple business challenges comes in."
Downing adds that the biggest barrier in removing the "illusion of knowledge" that most companies work under is the multiple data sources that exist within any organisation. These disparate data sources are often not correlated and important intelligence about the business can be missed as a result.
"Designed for the purpose of easily managing, in one central system, any international standard, internal policy and procedure compliance, management of risk, and the entrenchment of good governance, as well as achievement of goals and objectives, the RUBiQ software-as-a-service cloud platform provides a platform to help organise these data sources and evaluate the information in terms of achievement of objectives and the risk obstacles preventing such achievement. This keeps management focused on the priorities set by objectives at both strategic and operational levels. Analysing source data in this manner can potentially save companies millions in large data warehousing and big data projects," she says.
The key differentiator within the RUBiQ solution is its built-in information cross referencing capabilities. The RUBiQ solution does not take one source of data to build its management knowledge base. Rather, information for management reporting is cross checked against multiple information streams to ensure that the real version of the truth emerges in the dashboard reporting environment.
"Within the components for business success, one of the critical DNA strategies is the creation of alignment of the organisational structure to support business strategy. Setting of clear and achievable objectives comes first, company strategy must then obviously support the objectives, but it is then critical to align organisational structure and function to the strategy which supports attainment of objectives," Downing explains.
"RUBiQ is designed to help any organisation build the right integration layers at information source levels, then channel that information through the RUBiQ GRC layer so that it is effectively assessed in line with company objectives and identified risks, thus allowing for ongoing evaluation of potential emerging risks that may not yet have been determined. This funnelling process allows for the unique cross referencing of all key source information so that RUBiQ BI can support management with validated Risk Intelligence for improved management decision-making."
Built on the Yellowfin Business Intelligence (BI) tool, the RUBiQ reporting platform turns data into true intelligence. Gustav Piater, Sales and Marketing Director at Yellowfin South Africa, explains that the problem of turning big data into business intelligence is one all companies grapple with. "Without the correct tools, management is presented with information based on opinion, manipulation, loss of relevance and which is often out of date - putting the business at risk. The solution to this is governed and real-time data, location intelligence, collaboration, mobility and storyboards. These are all intrinsic to Yellowfin, and formed the foundation of the RUBiQ solution. We are delighted to see Yellowfin being used in such an innovative way, and to its full capabilities," he says.
Click here to download Nicky and Gustav's Presentation from the day.
1. RUBiQ BI Launch_Application
2. Why Yellowfin_RUBiQ BI Launch
3. Yellowfin_RUBiQ BI Launch
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