All posts by John Klein Cambridge Therapeutics

Three Reasons for the Failure of EPM Projects

Capitalizing on more than three decades of experience as a pharmaceutical executive, John Klein of Alpine, NJ, operates as the chairman of Cambridge Therapeutics. John Klein is also the founder of Bilogix, an enterprise performance management (EPM) solutions provider where he serves as the chairman and CEO.

EPM leverages analytics to improve business performance and efficiency and reduce costs, among other benefits. Despite the obvious benefits of implementing EPM projects, doing so can be a waste of time and resources without the proper planning or technical skills required. Below are three common reasons why an EPM project might fail:

– Lack of technical expertise. Implementing EPM tools requires a high level of technical expertise, and, while most EPM firms boast about their technical competencies, it’s crucial for businesses to ask specific questions about how they will solve their respective problems.

– No clear milestones. Establishing clear milestones and goals for EPM implementation is essential to avoid and resolve potential roadblocks. It can also help to begin with a small set of EPM deliverables as opposed to grandiose goals and objectives.

– Lack of strategic vision. Companies utilizing EPM solutions should have a clear and defined purpose for why they are doing so. Emphasis should be placed on improving overall company performance as opposed to the singular focus of completing financial tasks faster.

Enterprise Performance Management Solutions from Bilogix in Alpine, NJ

The chairman of Cambridge Therapeutics, John Klein is a pharmaceutical industry executive whose newest venture is the Alpine, NJ, based Bilogix. Focused on boosting operational effectiveness, Cambridge Therapeutics head John Klein has developed Bilogix’s next generation enterprise performance management (EPM) platform.

While there are various strategic approaches to EPM, one common approach involves utilizing an analytical framework while working to provide predictive capabilities. Through intuitive scorecards and dashboards, executives are able to view a variety of metrics across several business units that are arranged at various hierarchical levels.

Adhering to rigorous six sigma processes, EPM applications effectively contextualize operational strategy through key performance indicators that quantify results in terms of attaining targets. This approach allows organizational processes to be aligned across functions, with resources actively deployed in areas that will bring about sought after change and transformation.

Within an integrated EPM framework, steps taken to improve the corporate process are disseminated via financial consolidation and management reporting.

How EPM Software Can Improve Financial Planning

  John Klein is a pharmaceutical executive who has served as chairman of Cambridge Therapeutics in Alpine, NJ, since 2011. Beyond being responsible for establishing the strategic direction of the company, John Klein concurrently serves as chairman and CEO of the enterprise performance management (EPM) firm Bi-Logix, LLC.

EPM involves processes designed to boost business performance and has applications across a diverse range of industries. While it is useful and effective in reporting results to stakeholders, analyzing performance, and facilitating financial consolidation, it can have a particularly strong impact in regard to financial planning. Compared to manual methods of approaching finance such as spreadsheets, cloud-based EPM software is more automated and significantly less time-consuming. It also minimizes manual errors that might occur with the use of spreadsheets.

Another primary benefit of EPM software is the ability to integrate dynamic planning techniques such as rolling forecasts. This is particularly useful for businesses in rapidly-changing industries, as it lessens the reliance on making decisions based upon static assumptions via annual budgets. In contrast, a rolling forecast can be updated regularly to reflect business or industry changes.

Enterprise Performance Management Beneficial for Businesses

John Klein draws upon more than four decades of leadership experience in the pharmaceutical sector to his position as chairman of the Alpine, NJ-based Cambridge Therapeutics. In addition to this role, John Klein serves as the chairman and CEO of Bilogix, LLC, which provides unique enterprise performance management (EPM) solutions to customers in line with their corporate strategy.

EPM services can enhance business strategy and processes such as budgeting and financial modeling and analysis. EPM is a complex methodology that involves a number of aspects, such as the creation of an enterprise strategy. Designed to help companies seeking to improve their performance, EPM requires a solid strategic plan as its basis. Through EPM, the various aspects of the strategic plan are deployed throughout an organization. Another area of EPM entails mapping an organization. A blueprint is created outlining how the work will be accomplished and what the outputs will be.

Mapping an organization aids in the identification of areas in need of improvement and key performance indicators (KPIs). An additional aspect of EPM involves developing scorecards. Business scorecards can provide managers with quick access to critical information. The scorecards show metrics on KPIs that can aid in managerial decision-making.

The Importance of a Clearly Defined EPM Project Scope

Based in Alpine, NJ, John Klein is an experienced pharmaceutical executive who has served as the chairman of Cambridge Therapeutics since 2011. Additionally, John Klein is the chairman and CEO of Bilogix, LLC, which operates in the enterprise performance management (EPM) space.

A set of processes and applications that help analyze and predict the performance of an organization, EPM can significantly improve actions and outcomes relating to business strategy, enterprise planning and budgeting, financial modeling, and business reporting. However, in order to increase the likelihood of the success of an EPM project, managers must clearly identify the scope of the project, including its goals and objectives.

All relevant stakeholders should be consulted in determining the work required to achieve the project’s goals. Moreover, it is vital to define what won’t be accomplished during the project to ensure all involved are completing tasks in line with its primary purpose. Setting the project’s scope will also help define the tools required to outline project activities, establish project phases, assign resources, and estimate the budget required to complete the project. Working with stakeholders, managers should then establish a list of desired goals, such as improved performance times or enhanced process efficiencies, which will be used to gauge the success of the project.

Enterprise Performance Management Increases Operational Efficiency

Possessing more than two decades of experience in pharmaceutical manufacturing, John Klein serves as the chairman of Cambridge Therapeutics in Alpine, NJ. Aside from steering Cambridge Therapeutics, John Klein directs the business-development firm Bilogix.

Providing services in the growing field of enterprise performance management (EPM), Bilogix employs experienced consultants who assist businesses in conducting strategic analyses of their business intelligence (BI) and overall operational efficiency to perform better in a constantly-evolving marketplace.

EPM consultants might also evaluate the company’s expenditures and how much value that spending contributes to or review return on investment (ROI) data. The ROI process provides measurable values for determining an investment’s efficiency or making comparisons between different ones. Additionally, it assesses the return on specific investments in relation to its cost. These practices help to better inform executive management on how to create the best solutions for increasing performance and generating more profit for the enterprise.

Using Enterprise Performance Management to Boost Business Intelligence

A prominent pharmaceutical-industry executive based in Alpine, NJ, John Klein serves as the chairman of Cambridge Therapeutics. Previously named on Forbes’ list of the Top 100 CEOs, Cambridge Therapeutics’ John Klein has also led the Alpine, NJ-based business-consulting firm Bilogix since 2015.

An enterprise performance management (EPM) firm, Bilogix aims to serve as a strategic partner to businesses that wish to improve their future outlook in the midst of a rapidly-changing technological landscape. With more enterprises investing in digital solutions for everything from data storage and sales reports to customer relationship management, EPM consultants can help ensure an organization has a well-thought-out strategy for digital transformation.

Industry professionals advise chief executive officers to not hesitate too long before looking into EPM-driven technology solutions. A study by SAP and Oxford Economics found that 80 percent of companies had a rise in profitability after they completed a digital transformation. Those that fail to craft innovative business models and a comprehensive technological strategy that includes steps for integrating sales with the internet of things (IoT) will be left behind by their competition. However, trained EPM consultants can help companies ensure outstanding customer experiences as they continue to add increased technological capability.