Decision support should inform and enable a business’s commercial and strategic goals and objectives. This capability requires strong financial analysis and insight to help the business to make better informed decisions. This capability should include the ability to:
- Produce fast and accurate analysis on key business issues and parameters that impact current and future profit and revenue growth
- Challenge and validate assumptions made, and provide scenario type analysis on commercial proposals
Businesses are now facing the issues of data overload which has the potential to impact the timeliness and relevance of information produced. For instance our experience indicates that the average budget cycle time is in excess of four months and forecasts are in excess of two weeks. Information is therefore out of date by the time it is produced.
In addition as the demand for information increases, businesses should consider what information they really need to achieve their strategic objectives and avoid information overload.
- How confident are you in the market projections you make externally?
- Is your planning process seen as adding insight and value by the business?
- Does your performance reporting provide actionable insights?
- Does your performance reporting allow Finance to effectively partner the business?
- Can you identify and target customers that drive your profit?
- Do you know what products and services are under performing?
KPMG is considering these challenges that business face today and helping our clients overcome these and other related issues. Our Effective Decision Support approach can help businesses with issues-led offerings which are tailored to your business.
Our team can help businesses achieve greater clarity by focussing on three key areas: