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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.