Benefits of Advisory & Optimisation

The Dynamic Landscape of Global Enterprise Performance Management (EPM)
in 2024

Trusted Advisors

Our previous article spoke about some of the strategies you can employ to overcome challenges to Enterprise Performance Management (EPM) solution success, which you can catch up on here, and here we begin to look at how an organisation might benefit from undergoing an Advisory or Optimisation Study process with Bolt Consulting.

A process such as implementing EPM solutions comes with many challenges to overcome, and when approached in the right way can be easily overcome. Read on for more insights into how we go about tackling some of these through our defined yet flexible approach.

Business people brainstorming ideas using a chart

The Benefits of Utilising Advisory Consultancy Services

Offering advisory consultancy services to a prospective client in the sphere of Enterprise Performance Management (EPM) harbours mutual advantages that can significantly benefit both the client and the consultancy. By guiding a client through the landscape of EPM—which encapsulates a suite of processes, methodologies, metrics, and systems paramount for the scrutiny and governance of a company’s performance—the consulting entity not only creates an environment geared up for success, but also empowers the client to optimise their strategic decision-making, improve financial reliability, and streamline operational processes.

This collaborative partnership, underpinned by the consulting firm’s proficient deployment of EPM best practices, can drive transformative outcomes and enable sustained corporate success.

Tailored Solutions

Advisory consultancy provides a comprehensive grasp of a prospective client’s distinctive hurdles, ambitions, and corporate framework. Such in-depth insight equips consultants with the vital information required to customise EPM strategies that are absolutely aligned with the client’s particular requisites, thereby ensuring that the solutions are of utmost fit for the organisations ecosystem.

Through this bespoke approach, our consultants are able to deliver targeted and impactful guidance that resonates with the specific context of the client’s business, ensuring that the delivered EPM solutions foster an environment of enhanced performance and sustained growth.

Optimised Performance

By offering specialist counsel on EPM methodologies and industry-leading practices, our consultants possess the capability to guide potential clients in refining their performance management tactics. Such enhancement typically encompasses the rationalisation of pertinent business functions, including financial planning, budgetary controls, prognostic modelling, and the dissemination of financial information.

As a result, this professional assistance strives to improve the overarching robustness and productivity of the organisation’s financial operations.

Risk Mitigation

Consultants play a pivotal role in enhancing the efficacy of EPM implementations by proactively identifying and mitigating associated potential risks. Their expertise extends to unearthing industry-specific perils, addressing compliance complexities, and spotlighting various challenges that may otherwise elude the client. That can include reasons such as siloed interactions between business units, capacity managing the project alongside busy day jobs, and a lack of outsider perspective or ‘fresh eyes’ on a particular problem.

By imparting this critical insight, our consultants are instrumental in aiding you to formulate and execute robust strategies tailored to navigate and diminish these risks with marked efficiency, thereby ensuring a smoother transition and a more stable EPM environment.

Technology Alignment

Bolt Consulting specialises in guiding organisations towards aligning their technological infrastructures amongst the overarching business goals. This strategic partnership encompasses the discerning recommendation—or direct implementation—of bespoke EPM software and tools, expertly tailored to meet the distinctive needs of the organisation.

The aim is to facilitate a more cohesive integration of systems, which in turn catalyses enhanced operational performance, thereby underpinning the organisation’s journey towards its stated objectives with a robust technological foundation. Typically this is a step missed by vendor-resellers and other consultancies.

Change Management

The implementation of EPM typically necessitates modifications to the organisational culture and internal processes, a facet often underappreciated in the pursuit of business optimisation. Enlisting the services of an advisory consultancy like ours can be instrumental in navigating this intricate landscape, as our expertise in effecting change management strategies is vital in facilitating a seamless transition.

We can play a pivotal role in bolstering the prospects for successful integration of EPM solutions throughout the organisation, by equipping clients with the necessary tools and knowledge to embrace this transformational journey.

Expertise & Knowledge Transfer

Advisory Consultancy engagements offer a distinctive platform for the dissemination of specialised knowledge from our experienced EPM professionals directly to a client’s internal teams, thereby fostering the development of their in-house expertise.

Such a proactive collaboration serves as a catalyst for empowering clients, equipping them with the requisite skills and competencies to perpetuate the refinement and flexible adjustment of their EPM tactics over an extended period. This enables clients to consistently enhance their operational processes and strategic frameworks, securing sustained improvements and a robust competitive edge in their respective markets.

Cost Effectiveness

Engaging a consultancy service, whoever the provider, entails a financial outlay; however, the prospective advantages that such an investment can unlock—namely heightened efficiency, diminished risks, and enhanced performance—frequently eclipse the initial costs.

This value for money becomes increasingly apparent when set against the potential financial setbacks that might arise from suboptimal or inadequate performance management. Investment in advisory consultancy, therefore, not only aligns with sound fiscal prudence but also underpins the strategic imperative for robust organisational growth and stability.

Competitive Advantage

An effectively integrated EPM system is instrumental in affording businesses a vital competitive advantage through the facilitation of enhanced decision-making processes, optimal resource distribution, and judicious strategic planning. By engaging with a knowledgeable advisory consultancy such as Bolt Consulting, clients can effectively harness the capabilities of EPM systems to secure a competitive edge within their respective industries, thereby maximising their operational efficiency and strategic foresight.

In summary, advisory consultancy in the context of Enterprise Performance Management offers a strategic partnership where expert guidance can lead to customised, efficient, and effective solutions that drive organisational success.

Q. How does Bolt Consulting approach Advisory Engagements? A. We call it an Optimisation Study.

The Optimisation Study represents Bolt Consulting’s tailored approach, crafted to meet the unique requirements of our clients while addressing their individual organisational needs rather than any preconceived notions. Central to its success is a collaborative ethos, necessitating the client’s commitment to grant access to key stakeholders throughout the engagement process.

This ensures that both strategic and tactical objectives are identified and agreed upon by all parties involved – the client and us. Our goal is to execute this Optimisation study in an efficient timeframe, typically spanning a few weeks, contingent on the availability of all concerned parties’ schedules. Through this partnership, where the client is integrally involved in refining the final report, they also share ownership of the study’s outcomes.

The success of the Optimisation Study hinges not only on the merit of its recommendations but also on the dedication of appropriate resources from the client and Bolt Consulting throughout the entire duration of the advisory engagement.

Ultimately, the study aims to equip the client with a comprehensive, clear direction for future decision-making, enabling them to make well-informed choices that align with their company’s aspirations and operational goals.

Infographic1-EPM-Advisory-Optimisation-Process

What is an Optimisation Study?

  • An Agile Methodology – Fast, can be days, typically up to a few weeks. This can be tailored depending on the speed with which the business needs to move, but doesn’t compromise on the approach.
  • Highly Customisable – We aren’t literally optimising something already there, we’re optimising the strategy to work in harmony with the rest of the business.
  • Jointly Prepared Report – This is key as it becomes the client’s owned business case providing rationale and a handbook to turn to for validation on decisions being made.
  • A Safe Platform for Engagement – We aren’t selling or proposing anything until it becomes requested and is appropriate.
  • Evaluate a Potential Delivery Partner – Bolt Consulting is able to establish itself as a credible partner and we gains our stripes during the process.
  • Allows Cognisance of Wider Strategy – This turns the implementation from just a point purchase oblivious to all else to a pre-planned & road-mapped process.
  • Longer term approach – This can help put the client on steps to meet their initiatives and strategy.

Why is an Optimisation Study Beneficial?

  • The Optimisation Study supports opinion to evidence driven decision making capability.
  • Technology vendors push technology minus the holistic thinking, and this study overcomes that.
  • By using this process clients can avoid large consultancy costs and drawn out timeframes, and receive a consumable report detailing the roadmap.
  • The Study reduces the risk of departments and functions buying isolated solutions and proliferating the technology landscape.
  • It forces the consultancy to prove their delivery partnering credentials before you commit to a full implementation.

Who is the Optimisation Study Useful for?

Organisations with…

  • Multi data siloes/data bases needing a single combined view.
  • Functional challenges and limitations through processes & systems.
  • Rationalisation challenges & a need to reduce duplication of systems, processes and resource utilisation.
  • A need to control software proliferation.
  • Merged or divested organisations requiring a single-point-of-truth platform.
  • Environments where projects haven’t…
  • Delivered fast enough
  • Delivered within budget
  • Delivered at all!
Infographic2-EPM-Advisory-Optimisation-Process

By partnering with Bolt Consulting, you gain the advantage of our extensive expertise which will guide you through any challenges that may arise during your EPM journey. Our seasoned insight ensures that your decision-making process is informed and strategic, paving the way for a successful and durable EPM implementation.

Your organisation can expect a transformative experience, marked by improved performance management that is not just effective in the short term but sustainable in the long run.

Allow our consultants to be your compass in the complex landscape of EPM, ensuring every step you take is calculated and leads to the desired destination of enhanced operational efficiency and business intelligence.

If these challenges and our proposed solutions to overcoming them resonates with you, don’t hesitate to book an introductory call with our team today to find out more. You can contact us at info@boltconsulting.co.uk, or call us on +44 (0) 208 058 7005 choosing option 1.

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Upcoming Content…

In the coming weeks, we will add further content with insights into the world of EPM. Stay tuned for more value-add content and thought leadership from our seasoned experts.

Who we’ve helped.

… Just a selection of clients and companies who’ve benefited from the power of what we can do. Want your company to be featured here too? Get in touch.

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