- Real-time Business Execution
Where did we get our old thinking?
Since revenue shortfall happens one transaction or one interval at a time, project lateness happens one activity or one day at a time and cost overrun happens one item or one interval at a time, the granularity of visibility and control of business execution is important for minimizing deviations and maximize results.
Serious deviations happen not only because humans hide information but human brains together with electronic plan documents can’t keep up with the reality.
8Manage can assemble a set of business elements to a project or business portfolio and disassemble a business portfolio or project into a set of business elements in real-time. In other words, 8Manage makes use of the symmetry aspect of business rules and the speed of computers to provide the multi-level cause-and-effect views of the business portfolio and project execution in real time.
Being able to detect the initial deviations at the earliest possible time or view the performance from the lowest level to the highest level activities in real-time time can possibly decide a business portfolio’s success or failure.
How can we quantum leap forward?
- Real-time Performance Attribution Analysis
In 8Manage, enterprise’s performance can be viewed from the topmost level to its lowest level in real-time. For each organization, the user can view what its subsidiaries contributing to its results and the user can click each revenue, cost, asset and liability number and view what (e.g., sales, products, projects) attribute to the number in real-time.
Enterprise’s portfolio and project performance can also be viewed from the topmost portfolio to the lowest level of activities in real-time. For each portfolio, the user can view what its sub-portfolios or projects contribute to its performance (revenue, profit , asset and schedule) in real-time.
- Real-time Spend IntelligenceWhere are the typical problems in spend analysis?
Since most enterprises have multiple systems for different types (e.g., trade, non-trade, material, service) of procurement s and expense reports and the data need to go through the following manual efforts to be ready for spend analysis.
8Manage, with its One Design One System design, can automatically aggregate spend data according to Organization, Spend Type & Product and/or Supplier in real-time. It can help the organization generate answers to the following questions affecting its spending, including:
- What are the organization really spending?
- With whom the organization spending it?
- Is the organization getting what’s been promised for that spend?
The spend visibility provided by 8Manage Spend Intelligence helps the user gain insights into what their organization buys and from whom, and it helps them realize savings promised by past sourcing efforts.
- Real-time Management Accounting
What are the difference between financial accounting and management accounting?
8Manage provides both financial accounting for external reporting and management accounting for performance management and decision support. In 8Manage, all business and operations items such as campaign, sales order, portfolio, project, human resource, procurement, asset and liability items are automatically connected to its real-time management accounting facility.
How does 8Manage achieve real-time management accounting across multiple organizations and countries?
Even low-end PC today has sufficient computing power to generate Income Statement, Balance Sheet, Account Receivable, Account Payable and Cash Flow reports for an enterprise in real-time. The only reason that an enterprise can’t generate the up-to-date reports every day, week or even month because it lacks financial connectivity in its business and operational processes. The manual interaction model that people (including accountants) accustom to prohibits the financial connectivity even the modern computer hardware and software are geared to provide the level of connectivity needed for agile financial information.
Using the 8Managehas financial connectivity built-in every business modules and an executive is allowed to view any of the financial reports mentioned above of any unit/company/group in real-time.
The system will automatically aggregate from lowest units/ companies / groups to the highest level units/companies/groups in real-time and automatically eliminate inter-company transactions at the same time. Besides fast generation of financial information, the system also allow real-time drill down of information.
Can 8Manage provide the same real-time management accounting for portfolios and projects?
8Manage not only can provide the same multi-level real-time management accounting for portfolios and projects, but also can aggregate the multi-level management accounting information from projects to portfolios and to organizations or allocate from organizations to portfolios and to projects based on user-defined rules.
- Support Project-based Business
Why the support for project-based business is important?
"All white-collar work is project work. The single salient fact that touches all of our lives is that work is being reinvented."
What does it take to support project-based business?
Supporting project-based business involves the following fundamentals:
- Project integrity management
- Business-Project-Finance connectivity
Project integrity management is to ensure that a project won’t be changed from 90% complete to 50% complete in just one day because of the project integrity problem.
Business-Project-Finance connectivity is to allow the user to view the cause-and-effect relationship of a change in any of the areas and impacts in all areas.
Since human brains together with electronic documents (e.g., plans and reports) can’t catch up with project or business execution, the decision support system must make use of the symmetry aspect of business rules and the high speed computers to provide the multi-level cause-and-effect views to assist the human brains in real-time.