For the commercial sector the PROVE product is the best fit.
PROVE is a corporate performance management (CPM) solution that integrates and drives group reporting, analysis and collaborative planning processes throughout the organisation.
PROVE is a comprehensive approach for the complete and closed-loop planning process that drives continuous business improvement and facilitates the linking of strategy to operational planning.
With PROVE, all decision makers and front-line managers can communicate which course of action to take and get budget holders to collaborate so that the planning process is optimised and efficient. When a material event occurs that causes a change in direction, planners will have the flexibility to adapt rapidly, ensuring that plans are always relevant and useful.
PROVE is designed to enable the Corporate Performance Management process using world class software and best business practice illustrated in the diagram below:
Diagram 1: The PROVE system is the technology component that enables the execution of corporate strategies by systemising corporate performance management processes embodying reporting, analysis, modelling and planning functions to contribute to an improved "bottom line".
The ultimate aim is to link the budget/forecast process, to the overall corporate goals and objectives.
- More decision makers are involved in the process;
- More accurate and validated information is used during that process;
- The planned profits and overall performance can be measured and monitored on a timely and on-going basis;
- Better, more strategic decision making is carried out across the organisation.
Built using a high-performance, scalable architecture, PROVE lowers the total cost of ownership and simplifies deployment to many users who can have access to the application anytime, anywhere.
Features of PROVE
PROVE provides many features including the following:
Pre-built financial intelligence within PROVE makes the planning and reporting process manageable, adaptable, and flexible so participants aren't hindered by the mechanics of the process. Users build, distribute and maintain powerful business rules and planning methods company-wide using MS SQL Server, DB2 OLAP or Oracle scripts. For example, users can build business rules that drive employee benefit values, create activity and allocation drivers, calculate and utilise growth rates to predict future values.
In-built Consolidation engine for rolling-up actuals, budgets and forecasts means you can cut down your period-end reporting cycle times and free up your people so that your team can make the transition from being scorekeepers to strategists.
Currency Translation and Inter Company Elimination functionality speeds up your consolidation and group reporting cycle.
Work Flow and Process Management - PROVE contains powerful work flow and process management functionality, which helps manage the financial close progress. Work flow and process management empowers users to track the progress of their budget/forecast, create and validate plans, and respond quickly to changes. This function co-ordinates the information collection and consolidation processes for the whole company as well as single and sub-sets of users. The result being shortened cycle times and support for organisational collaboration and the capturing of a "best practice" approach to planning and reporting.
Integration with DB2 OLAP - PROVE leverages DB2 OLAP and its robust analytic and calculation capabilities, pre-built financial intelligence and scalability. PROVE capitalises on OLAP and data warehouse technologies by embedding a powerful business intelligence reporting and analysis tool.
Simplified, Powerful Reporting - PROVE clients receive reports delivered using the Excel and/or Brio reporting engines. The VISTA license (Brio Explorer) enables users to design their own report formats using a leading industry business intelligence tool. PROVE makes it easy for end users to carry out real-time, ad hoc variance reporting and quickly produce a variety of sophisticated financial reports, which can be viewed online or printed with production-quality formatting.
Completely Web Native functionality - PROVE provides complete Web functionality including reporting and analysis, system administration, , work-flow and process management and data entry. PROVE deploys a Web-centric interface so companies can easily roll out the application to large, distributed organisations without having to install software on client machines. Built using a high-performance, scalable architecture, PROVE lowers the total cost of ownership and simplifies deployment to many users who can have access to the application anytime, anywhere.
Scenarios- PROVE allows users to input and calculate target scenarios with detailed or high-level data, allowing decision makers to focus on analysis and strategy. Line managers plan directly against their targets using real-time gap analysis to help eliminate variances and reduce cycle times, and end users can drive re-forecasting based on a growth rate or other corporate standard or user-defined business drivers.
Benefits and Advantages of PROVE
PROVE provides many advantages to your organisation including the following:
Provides Collaboration, Communication, and Alignment - PROVE provides communication across differing disciplines and departments. This means that all departments within your organisation such as IT and finance, operations and senior management can reach agreement having collaborated in a closed loop planning and reporting process. All elements in the planning cycle-data entry, negotiation and iterations, process control, reporting and re-forecasting-are coordinated and managed in PROVE.
Creates Complete, Meaningful Plans - PROVE's built-in financial and process functionality, enables organisations to create plans that are accurate, complete and meaningful. PROVE's open architecture increases the value of an organisation's existing information systems, such as enterprise resource planning (ERP) systems, data warehouses, legacy systems and customer relationship management (CRM) applications.
PROVE reduces wasted effort through monitoring and managing the process using hierarchy based decision rules, and textural notations. Costly coordination and communication pitfalls are avoided, leaving more time for adding value with analysis and collaborative planning effort.
Provides Greater Individual and Organisational Accountability - PROVE includes all front-line decision makers and consistently communicates changes in direction for all aspects of planning including target setting, strategy and tactics. Advanced planning functionality makes PROVE easy to use, ensuring increased use throughout the organisation.
Easy to Use and Deploy - PROVE's Web native functionality-including model administration, reporting and analysis, work-flow and process management and data entry-ensures an easy and low-cost distribution to a wide audience. With a Web-centric interface, companies easily roll out the application to large, distributed organisations. With PROVE's web centric architecture and centralized data, software does not have to be loaded on client machines or scattered around the offices in various client spreadsheets. Built using high-performance, scalable architecture, PROVE enables organisations to deploy a robust planning and reporting solution that is designed to lower the total cost of ownership and simplify deployment to hundreds of users.
Since the actual planning and reporting is widely distributed, more employees have a heightened understanding of the story behind the numbers. The communication of assumptions and standards is increased, and users can maintain and update their own specific business rules. Complex programs and macros do not need to be maintained by IT. Line manager's show increased ownership of plans when business methodologies and strategies are communicated down to them.
Provides More Efficient Budgeting, Planning, and Forecasting - With PROVE, decision makers have access to real-time information that allows for interactive analysis so organisations can change direction based on a material event and take advantage of internal and market opportunities. Continuous event-driven planning means that the impact of changing business conditions can be evaluated in terms of impact on "bottom line" (budget on demand) and resources allocated in the most efficient manner.
Empowers Users with Workflow and Process Management - PROVE contains powerful workflow and process management functionality, which helps manage the financial close progress. Work flow and process management empowers users to track the progress of their budget/forecast, create and validate plans, and respond quickly to changes.
This work-flow and process management functions co-ordinate the information collection and consolidation processes for the whole company as well as single and sub-sets of users. The result being shortened cycle times and support for organisational collaboration and the capturing of a "best practice" approach to planning and reporting.
Extends the Reach of the Finance Function - PROVE provides comprehensive support for the reporting, analysis, modelling and planning needs of an enterprise. The benefits to companies that adopt PROVE include improved information quality and an enhanced understanding of business performance, which is achieved by expanding the information scope of finance systems and by extending the information reach of the finance function.