Focus on Financial Transparency
Financial transparency is about ensuring that you have a complete overview of corporate financial processes and are in control of your cash position, which is expressed by your cash flow.
You must also be in full control of your overhead costs, which are expressed and controlled by your finance budget compared to actual.
To meet increased performance within the selected KPIs, this solution centers around areas that can help you improve these KPIs; that, is Key Success Factors.
Each of the key success factors is related to certain parts of the solution delivery. This means that “improve project profitability” is closely related to the way you manage your project workflows, while “improve utilization” is related to resource management and the People Planner solution.
“Enable fact-based decisions” is about getting the right business information model in place (called dimensions), and ensuring that the reporting solution (BPM) gives you the proper foundation for making the right strategic decisions at the executive level.
It is important that your objectives (key success factors) are clear before you implement your Maconomy solution.
Each of the following topics begins with a section called “Keys to Success.” This is our suggestion of what you need to do to improve within the area, and thereby achieve your underlying KPIs (shown in the figure in “Key Performance Indicators Leading to Success”).