Performax Partners with Analytics-Based Performance Management

Analytics-Based Performance Management LLC and Performax Inc. Announce a Partnership by Integrating Performance Management Best Practices with LIVE 360° Stakeholder Engagement & Analytics

Analytics-Based Performance Management LLC (www.analyticsperfmgmt.com) is a consulting firm based out of North Carolina, USA, and has expertise in the areas of accounting and analytics maturity assessments; strategy execution and profitability analysis, and best practices in activity-based costing and Enterprise Performance Management (EPM). 

Performax Inc. (www.performax360.com) is a stakeholder engagement automation and business intelligence software platform, offered as a Software as a Service (SaaS) cloud or on-premise solution, powered by IBM Watson. Suitable for mid-size and large organisations across all industries, it engages employees, customers, and partners in a LIVE 360° feedback and feed-forward process, and captures grass-roots stakeholder intelligence on critical issues related to  projects, processes or internal functions. It facilitates collaborative innovation and agile sense and respond capability within organizations.

Analytics-Based Performance Management and Performax today announced the availability of an integrated solution for Accounting, Finance, and Enterprise Performance Management functions that automates and streamlines Live 360° stakeholder engagement, big-data analytics, and collaborative action planning within the EPM process.

The partnership enables a perfect blend of performance management best practices and near real-time availability of actionable stakeholder intelligence.  This integrated solution offering will help mid-to-large organizations across industry verticals accelerate growth and gain competitive advantage in the marketplace through: (1) capturing real-time stakeholder intelligence and insights on critical success factors, (2) enabling greater organisational agility and innovation, and (3) leveraging best and next practices for strategic and operational decisions.  

Organizations will now have the capability to monitor organisational or team performance dynamically and in real-time, supported by IBM Watson cognitive analytics, which delivers stakeholder sentiment analysis. In addition, key EPM competencies can be evaluated through multi-stakeholder insights and recommendations, which jumpstarts innovation. Armed with the latest thinking on EPM, Activity-Based Costing (ABC), and Profitability Analysis, organizations can further enhance their effectiveness in the increasingly digital and hyper-competitive business environment. 

Finance & Accounting is a core internal function responsible for planning, organizing, directing and controlling the financial activities of an enterprise, including treasury and risk management; accounting and financial reporting; capital budgeting; policy and regulatory compliance; financial and tax planning; cost control; and other financial administration related activities.

The primary challenges for Finance & Accounting include doing more with less; maximizing shareholder value through prudent financial discipline; aligning corporate and financial strategies; managing investor relations; optimizing financial risk exposures using financial derivatives; hiring and retaining talent; internal audit and control; financial process optimization; and ensuring optimal financial policy and governance. 

As the complexities of business grow, so the depth and scope of Finance & Accounting team’s knowledge of their organizations – from management level to day-to-day operations – becomes an increasingly valuable resource, providing the opportunity for the function to expand beyond focusing on Financial Administration to delivering shareholder value through Strategic Finance.

But Finance & Accounting often fails to deliver its intended benefits because of a lack of 360-degree stakeholder intelligence, employee engagement, cognitive insights, and real-time performance management capabilities. 

While Analytics-Based Performance Management helps transform enterprise performance management into a function that supports high-performance value creation, the integration of Performax360’s cutting-edge stakeholder engagement and business intelligence technology will help companies accelerate value creation by providing real-time customer and employee touchpoints for better product quality, reduced costs, and faster realization of optimal strategies. 

Performax360 is an intelligent enterprise performance management platform that helps improve the effectiveness of the Finance & Accounting function, by ensuring continuous touchpoints and alignment with key internal and external stakeholders.For companies in time pressured industries, moving from stage gate processes to lean and concurrent efforts helps to shorten development timelines. The integration between Analytics-Based Performance Management’s thought leadership and Performax’s intelligent stakeholder engagement technology allows real-time decision-support at both strategic and operational levels.

“It is my pleasure to announce that the enterprise performance management expertise of Analytics-Based Performance Management and Performax360’s stakeholder engagement and business intelligence platform can now be accessed by customers through a seamless single-point solution. This partnership offers strong support for our business,” said Gary Cokins, Founder and CEO at Analytics-Based Performance Management.

“Performax360’s Digital Engagement Process promotes an open and connected environment throughout the enterprise. This extends to all internal functions, processes, and projects as we and our partners look to streamline the overall process of enterprise engagement, alignment and performance management to something that’s real-time, agile, and hyper-aware. We are excited to partner with Analytics-Based Performance Management and look forward to servicing our customers with value-added solutions.”  said Dr. Samir Asaf, President & CEO at Performax Inc.

Contact Gary at Analytics-Based Performance Management at gcokins@garycokins.com, or Samir at Performax Inc. at samir.asaf@performax360.com

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