Growth in BPM marketplace driven by need to understand, manage business performance, according to firm
Stamford, CN and London — March 8, 2004 — BPM Partners, a business performance management (BPM) consulting firm, today announced that it has opened an office in the United Kingdom to service its growing European customer base.
The BPM Partners Ltd. Team is based in London and led by long-time industry expert Ivor Herman. Prior to setting up the U.K. BPM Partners operation, Herman was managing director of U.K. consulting firm Dimensus Solutions. Herman spent 12 years at Hyperion Solutions in consulting management roles, and was focused on the development and delivery of consulting services in the BPM marketplace.
"Based upon the level of inquiries that we receive from European prospects, we are confident that European organizations have a similar perspective on what performance management can do to help the competitiveness of their organization," said Craig Schiff, president and CEO, BPM Partners. "By expanding our team and adding local experts, we can more quickly help executives at these companies achieve their goal of completely understanding their business."
BPM said that in today's fast-moving business environment, it is vital that executives be aware of the true nature of their business at any given point. According to the company. BPM is a combination of business processes, select measures (metrics, key performance indicators) and systems that enable an organization to understand, act on and influence its business performance. Budgeting, planning, consolidation, scorecards, dashboards, business intelligence (BI) and analytic applications all fall under the BPM umbrella.
The company also said BPM projects are a strategic method of managing global compliance requirements, from Basel II and IFRS to Sarbanes-Oxley.
"Performance management projects are typically more successful when organizations include experienced performance management specialists on the team," said Nigel Pendse, author of The OLAP Surveys and The OLAP Report. "The OLAP Surveys have consistently found that organizations that conduct rigorous multi-product evaluations are more likely to realize business benefits than those that don't. This may be because they are more likely to select the most suitable product, or perhaps because their projects were probably more thorough in other ways, too. Projects led by specialist BI consulting firms also had a higher success rate than any others."
The new BPM Partners Ltd. provides European-based and global companies with European offices access to the BPM Partners' needs analysis and vendor selection methodology. The company also helps customers and potential customers consider the risks and benefits of a BPM implementation through access to a variety of resources, such as the annual BPM industry survey results and BPM Pulse dashboard.
"The resources available on our Web site are a great way for our European prospects and customers to get started on a performance management initiative," said Herman, managing director of BPM Partners Ltd.