Professional Advantage recently held its 2013 CFO Academy seminar in Sydney, Melbourne and Brisbane. With attendance increasing each year, the 2013 CFO Academy again proved to be a popular and valuable morning for over 130 CFOs, Financial Controllers and Finance Managers. Attendees heard from our keynote speaker Graham Kenny, on the topic of strategic planning and performance measurement.
Graham, an author and experienced public speaker and seminar facilitator, engaged the audience with an often light hearted yet insightful and thought provoking presentation. His ability to simplify and break down KPI and performance measurement into a few key principles was an eye opener for a lot of attendees.
The audience also heard from Jonathan Marcer, Business Transformation Manager at Professional Advantage. Jonathan shared project experiences and key success factors from some recent budgeting, reporting, KPI and performance measurement implementations Professional Advantage has been proud to work on.
Given the theme of the day and with the true meaning of performance measurement difficult to define for many organisations, we surveyed the attendees across the 3 cities to find out more about their biggest challenges and priorities in relation to performance measurement. Overwhelmingly 'defining KPIs that are strategic' and 'linking strategy to operations' were highlighted as the main challenges, making up over65%of responses. This supports the first principle from Graham's presentation, that "measuring activity is not measuring performance" and is clearly a key element finance teams struggle with.
Responses relating to performance measurement priorities over the next 6 months were mixed. The highest priority of 31% of respondents was to develop a performance measurement strategy with27%wanting to gain a greater understanding of performance measurement solutions available. A further21%indicated improving their existing performance measurement platform was their highest priority.
With these priorities and challenges highlighted, the fact that42%of respondents indicated they use Microsoft Excel exclusively as their performance measurement tool was telling. Professional Advantage assists organisations with these challenges, providing solutions for strategic planning and performance measurement. The right technology assists to link strategy to operations, while integrating the business intelligence, reporting, planning and budgeting processes, within the one platform.
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