Corporate Innovation – The Future
Every so often, corporations face waves of innovation that is difficult and costly to handle. History has shown that corporations who innovate without delay, or companies without anything holding them back like startups, are the ones that navigate these obstacles the best. Just ask Kodak, Blockbuster, Motorola and Nokia how well innovation fared with them? The automotive industry is in the midst of one of these disruptive changes with electrical cars and it is interesting to observe who will come out on top; Innovators or the established brands?
Change is not only related to disruption or innovation, but to new ways to measure and manage the business. This new change is already upon us: The British Academy published a report on November 27th 2019 that discusses the Future of the Corporation. BBC made a Podcast on the topic. Their prediction is that the corporations without a Purpose or Mission may face difficulties attracting the Millennials and Green Buyers as customers. This will impact and it will impact everything from Governance, Investments, Funding to Performance and Measurements (KPIS’s) will change dramatically. The purpose of business is to solve the problems of people and planet profitably, and not profit from causing problems ~ but solving them. The report lays out 8 principles that aim to re-organize the corporate sector around purpose and around corporations’ contributions to solving social, political and environmental challenges. It will impact: Corporate Law, Regulations, Ownership, Corporate Governance, Measurement, Performance, Financing, and Corporate Investment.
The New Paradigm is morphing BI and CPM into Collaborative Analytical Planning
One of the key principles in the report is Measurement. If you are going to implement change, corporations always need to measure it. It is obvious that the solutions companies have in place today are not enabled or powered to Measure and Manage such a comprehensive new corporate agenda. Gartner has been preparing for this new paradigm for years: From 2001 to 2017, Gartner had two separate Magic Quadrants for BI and CPM: BI = Analysis, CPM = Report, Monitor, Measure and Plan1). In 2017 FP&A split from the CPM matrix to enable CPM to merge with BI. SAP has now enabled their DW solution HANA with writeback, and Power BI and Power ON are providing an identical offering; A Data Warehouse Planning solution with BI and Analytics. Ref: ¹)Gartner, “Back to Basics: The Refocusing of Corporate Performance Management,” John E. Van Decker, Nigel Rayner, Christopher Iervolino, 31 October 2017
Unleash CAP with Power BI and Power ON
In 2020 consumers will demand of corporations that they do plan and can document their Carbon Footprint, Social Impact and their efforts to engage in sustainable economy and supply chains. These are complex questions that corporations are facing. Power ON has partnered with Microsoft and the Power BI solution to assist Global 5000 companies around the world to develop planning processes, KPI’s and drivers to measure and manage Financial, Social, Global, Personnel and Natural Resource metrics.
Taking advantage of the Power BI Platform it will work across all departments and be crowdsourced from everybody within the organization: Microsoft Power BI and Our Visual Planner Solution enables corporations to plan in a whole new way:
- Analyze millions of records
- Add unlimited dimensions and Attributes,
- Discover Vulnerabilities and Unleash Potentials
- Measure and Track KPI’s
- Measure soft and hard metrics
- Allocate and Spread Drivers and Metrics
- Plan and Collaborate with process and discussion on data points.
If you want to learn more, ask for a demo of Power ON’ Collaborative Analytical Planning (CAP) Suite today.
Over the last few years partners, clients, and Power ON has taken advantage of the benefits that Azure, Cloud and Power BI provides and in turn enabled better decision making, more swift adoption to change and additionally user satisfaction and corporate profitability.
A US Based company used to spend 3 months putting together a yearly forecast using a frequently used Corporate Performance Management software based on Excel. One day from the clear skies came the big surprise that they were being acquired. The acquirer had high demands for detailed financial and a bunch of other information during due diligence proceedings. The Board and Top Management panicked. The finance team had just finished a rigorous training program in Power BI with Power ON, and they completed the entire due diligence request in 3 weeks including all specific metrics, a new budget, and all KPI’s requested. The team called and thanked us and told us it wouldn’t been possible without an open data model like Power ON, and the flexibility of Power BI. With Power ON’s Planning, Goal-Seek and What-if features, business analysts increase effectiveness with finding answer to common business challenges.
12 months ago a Fortune 500 company came to Power ON and had to gather non-financial drivers into their planning process. Due to migration to cloud computing, their revenue model had changed from monthly sales figures to monthly subscription fees by user, and the buying process and financial revenue model had turned the business upside down. Their ERP/CPM based solution was not able to support all the metrics they now needed to track. With Power BI there are no limits of dimension and attributes it can handle. The main thing they were missing was write-back and ability to create and generate scenarios out in time. Their DW became now a Planning and Forecasting tool, and their stock price is now growing faster than ever. Yet another example on how BI solutions turns into a Planning solution.
Contact us for demo today.