Performance Management: When Excel is no longer enough...
Nowadays, the administrative and financial management of companies plays an increasingly decisive and strategic role. Discover why it's time to move beyond Excel.
Nowadays, the administrative and financial management of companies integrates an increasingly decisive and strategic role. Going beyond traditional actions of cost calculation, results, and various budget monitoring, the "Finance" department aligns the company's strategy at the operational level. Evolution of the CFO's role Their role is no longer "simply" to provide numbers. Today, the administrative and financial director must report and plan the future performance of their company through reliable, relevant, fast indicators, as well as forecasts, to support the company in its tactical and strategic choices. Finally, they ensure the link between the various internal or external partners of the company, whether they are their leaders, employees, shareholders, social partners, and banks, to whom they must clearly explain the plan. They are no longer a Financial Director; they have become the Performance Pilot of the company and are at the center of all attention. Moving from the rearview mirror to the windshield Very naturally, the Financial Director or their team begin by reporting their company's performance through multiple Excel files: turnover, sales, purchases, margin, payroll, general expenses, etc. They will retrieve information from their IT systems, which they will then input into their spreadsheets, and perform this operation regularly. But you can't drive a car with only a rearview mirror as an instrument. They will also simulate future hypotheses and propose forecasts over varying terms, and this will involve all departments of the company. Implementing a Performance Management solution Very quickly, the management solution will need to be faster, more reliable, more persistent, more collaborative, and more scalable. It will need to quickly adapt to potential changes related to the company's organization, the market, and competition. It is in this context that Business Intelligence tools and, more globally, Performance Management solutions are becoming essential for large SMEs, mid-sized companies, and large groups. READ ALSO: How to choose your EPM solution: criteria, method + our interactive comparator Excel is no longer enough… PerfectSight builds such solutions. With 20 years of experience, it is our DNA and our daily mission to help companies manage their growth, optimize, and plan their results.