Productivity and Performance Management
What the Mid-Market can Learn from Large Enterprises
Performance management is a discipline that allows companies to align business activity with corporate objectives. This requires gathering, tracking, analyzing and acting upon information and data that can potentially change multiple times throughout the business day or week. This is a set of capabilities that many large enterprises have been exercising for some time, and mid-sized companies are increasingly looking to adopt. For this research, mid-sized (or mid-market) is defined as organizations with annual revenues between $50m and $500m. The differences in strategy, capabilities and technologies used by the mid-market compared to large companies are also examined. Key recommendations are drawn for mid-market businesses to increase the value they derive from performance management.
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Forty-six percent (46%) of large firms have suffered significant cuts organization-wide. By contrast, the single largest group of mid-market companies has suffered only slight cutbacks across the entire organization. The cost cutting evident at large organizations is mirrored by the pressure driving performance management initiatives. As Figure 2 shows, large companies are focused on improving efficiencies to take cost out of the business. This is entirely consistent with the fact that actual costs have exceeded budgets by 2% in the last financial year.
As noted, mid-sized organizations are using performance management to deepen their understanding of the operational intricacies of their business. This is something they sorely need to do given the wide disparity between their planned and actual performance.
How Demand Metric Can Help
If you need help aligning your business activities with corporate objectives, check out the following templates:
Business Strategy Metrics Dashboard
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Key Performance Indicators Worksheet
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