Financial Management I (2)

Finance ManagementThe Arbortext product suite offers solutions at every stage of information development from defining, authoring, illustrating, to managing, and delivering content. Competency Management: Ability to centrally manage competencies in the organization and be able to leverage them across the organization. Lifecycle Performance Management addresses this issue by translating each high-level target into a cascading series of focused performance measures, each designed to drive specific behavior at a particular level in the organization.

With Lifecycle Performance Management employees at every level are measured by something they understand and control, and clearly link to the goals of their direct supervisor and the organization as a whole. Just as critical is the ability to effectively communicate IT planning and performance data in a way that is useful to business unit management.

It is the performance management team’s responsibility to ensure that they identify and report on metrics that capture true business effectiveness. Therefore, the team that finally approves the strategic plan for IT/IS is usually comprised of the top management of the company, the managers of the different functional areas and by the IT/ IS managers whom, with their teams, prepare the plan. Companies that fail to commit senior and departmental management to the strategic plan have a difficult, if not impossible task of aligning IT systems to Business Strategy.

In an economy where results need to be achieved fast and investor confidence is low, CFOs and finance organizations are implementing integrated performance management to improve information quality and visibility. One challenge organizations face implementing performance management initiatives is identifying financial performance measures that are meaningful to those responsible for carrying out the work. The second module focuses on how to successfully manage the financial aspects of smaller firms.Finance Management

Remember, the key to success is aligning all aspects of performance management with things people can understand and personally control. Debt Burden Ratio – measures the financial strength of the institution by indicating how long the institution could function using its expendable reserves to cover operations should additional net assets not be available.

Finance Management