Category Archives: Business

The Relationship Between EPM and Six Sigma

The recipient of an MBA in finance from Roosevelt University, John Klein is an Alpine, NJ-based pharmaceutical executive who concurrently serves as chairman of Cambridge Therapeutics and chairman and CEO of Bi-Logix, LLC. With the latter company, New Jersey’s John Klein coordinates marketing efforts for the enterprise performance management (EPM) firm’s copyrighted methodology to support improved business functions.

EPM is a corporate process that aims to set strategy and ensure its execution via the optimization of budgets and financial reporting. It functions under the assumption that a company’s products and services are also made in an efficient and cost-saving manner. However, this isn’t always the case. To ensure maximum efficiency, companies should employ both EPM and Six Sigma processes.

A data-driven methodology that aims to eliminate defects in transactional and manufacturing processes, Six Sigma was developed by William Deming for use in the Japanese manufacturing industry following WWII, and has since been employed by major US corporations such as Honeywell, Motorola, and Ritz Carlton Hotels.

Once a business establishes its desired strategy using EPM, Six Sigma principles should be employed to eliminate waste and inefficiencies from operation processes. These principles include emphasis on the customer, utilization of data, and continuous improvement.

How EPM Services Can Optimize Profit Margins

 

 

 

 

 

Based in Alpine, New Jersey, John Klein is an experienced pharmaceutical executive who serves as chairman of Cambridge Therapeutics. In addition to his role at Cambridge Therapeutics, John Klein is the founder, chairman, and chief executive officer of Bilogix, LLC, an enterprise performance management (EPM) services provider in Alpine, NJ.

EPM services can be used to improve business operations in several areas, including profitability. An extension of business intelligence investing, EPM services draw on comprehensive analytics to resolve problem areas in an organization and to optimize a business’s strongest areas of development that enhance overall productivity.

Enhanced decision making through corporate performance management is just one of the many benefits of EPM that can lead to improved financial standing. Performance standards are defined and tracked through EPM applications, such as easily accessible scorecards and KPI indexes. Furthermore, processes such as predictive budgeting and business forecasting can have a positive influence on corporate performance management in regards to profitability.

How Enterprise Performance Management Transforms Operations

A longtime presence in the Alpine, New Jersey, community, John Klein guides the pharmaceutical company Cambridge Therapeutics as chairman. In addition to his endeavors with Cambridge Therapeutics, John Klein established Bilogix, an Alpine, New Jersey, consulting firm that will provide enterprise performance management (EPM) deliverables to companies in NJ and across the United States.

EPM is a broad system that involves coordinated strategic approaches to defining operational targets and enhancing one’s bottom line. A commonality among all EPM pathways is establishing an analytical, predictive framework for defining areas that are in need of improvement.

Using an overarching six sigma system of eliminating process waste and ensuring deliverables that meet customer needs, EPM applications employ a key performance indicators methodology for quantifying value drivers. The goal of employing this methodology is to align complex operations across divisions in ways that enable transformative, milestone-defined change. This change provides companies with the ability to pivot and effectively adapt to shifting technologies, markets, and required workforce skills.

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.