Organizations to Use BPM for Both Compliance Activities and Internal Process Management, Says META Group
- 01 April, 2004 10:41
<p>New Business Performance Management Evaluation Released Today</p>
<p>SYDNEY, Australia. (April 1, 2004) — META Group, Inc. (Nasdaq: METG) today announced the availability of its newest METAspectrumSM In Depth report, covering the business performance management (BPM) market. This market offers an integrated solution approach consisting of Web-based analytical applications providing key performance indicators (KPIs) that can be tiered and distributed within the enterprise; business plans that are intended to achieve KPI values; and actual reporting and forecasting linked to KPIs.</p>
<p>As the market becomes more demanding, there will be consolidation of requirements around management and financial reporting (including regulatory consolidations). A key driver in this consolidation is regulatory compliance/corporate governance, as firms seek to improve visibility and internal accountability. Robust BPM solutions should be considered for both internal performance management initiatives and support of visibility/transparency requirements for regulatory compliance (e.g., Sarbanes-Oxley).</p>
<p>“Although the BPM market grew at least 10%-15% in 2003 to approximately $1.1B, this was primarily from more penetration of planning/budgeting solutions and replacements of reporting platforms, not from compliance-driven sales,” said John Van Decker, vice president with META Group’s Technology Research Services and lead author of the report. “This will change by 3Q04, as firms seek to optimize internal financial processes to support compliance. During 2004, BPM will grow 15%-20% as firms utilize BPM for both compliance activities and internal process management.”</p>
<p>The best approach for a BPM initiative is to evaluate integrated suites from business intelligence vendors, financial analytic vendors, and ERP vendors. Many BPM vendors have application linkages to numerous ERP suites, because they must be ERP-agnostic to play in this space. When evaluating solutions, firms must consider the following criteria: financial reporting, financial consolidation, localization, ERP integration, support for dynamic planning/budgeting, business modeling, visibility through dashboards/scorecards, distributed access via portals, usability, and technical architecture.</p>
<p>Key Findings and Guidance
The Business Performance Management report evaluated 13 vendors. The analysis found:
• Leaders have invested significantly in establishing a product and portraying a vision of an integrated BPM solution. They also have firmly established partnerships with leading system integrators, which are often required to implement the solutions.
• Challengers have mature solution frameworks, but could benefit from more integration as well as more partnerships with systems integrators. Many of these vendors have multiple components of BPM and seek partnerships for additional modules.
• Followers are generally emerging solution providers — they often do not have the investment potential to increase brand awareness and enhance their solutions.</p>
<p>About the Report
Providing comprehensive, side-by-side vendor comparisons and research, META Group’s Business Performance Management METAspectrumSM In Depth report helps users evaluate the overall performance of IT vendors and their competitive market position as well as compare and contrast the strengths and limitations of each vendor’s product offerings. The evaluation is based on META Group’s METAspectrum methodology, which provides a framework for evaluating or selecting an appropriate IT vendor or product, simplifies the decision process, and enables more effective technology investments. To learn more about META Group’s METAspectrum In Depth reports or the METAspectrum methodology, visit metagroup.com/metaspectrum or call (800) 945-META.</p>
<p>About META Group
META Group is a leading provider of information technology research, advisory services, and strategic consulting. Delivering objective and actionable guidance, META Group’s experienced analysts and consultants are trusted advisors to IT and business executives around the world. Our unique collaborative models and dedicated customer service help clients be more efficient, effective, and timely in their use of IT to achieve their business goals. Visit metagroup.com for more details on our high-value approach.</p>
<p>Peter Carr, Vice President, Director Operations
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