With shortened business cycles, increased competition, and rapidly changing technologies, companies need to be more nimble than ever. They must narrow the gap between strategy formulation and operation execution to guarantee success. The Strategy Gap will provide a framework that senior financial managers can use to ensure that their strategies are implemented successfully and that their corporations remain competitive. Filled with informative case studies and best practices for optimum financial processes, this valuable resource will help managers leverage information technology to successfully implement corporate strategies. This book also shows managers how to eliminate surprises in poorly managed or unforeseen activities, while applying new approaches to financial management for faster and more accurate business modeling. Expert advice from those who have used these strategies clearly explains how to integrate planning, budgeting, consolidation, and reporting into one cohesive management system.

With shortened business cycles, increased competition, and rapidly changing technologies, companies need to be more nimble than ever. They must narrow the gap between strategy formulation and operation execution to guarantee success. The Strategy Gap will provide a framework that senior financial managers can use to ensure that their strategies are implemented successfully and that their corporations remain competitive. Filled with informative case studies and best practices for optimum financial processes, this valuable resource will help managers leverage information technology to successfully implement corporate strategies. This book also shows managers how to eliminate surprises in poorly managed or unforeseen activities, while applying new approaches to financial management for faster and more accurate business modeling. Expert advice from those who have used these strategies clearly explains how to integrate planning, budgeting, consolidation, and reporting into one cohesive management system.

Foreword xiPreface xiiiAcknowledgments xvChapter 1 Strategy Gap 1What Gap? 1Failure of Strategic Plans 3Management-Induced Gaps 5Process-Induced Gaps 7Technology System-Induced Gaps 13Role of the Chief Financial Officer 19Corporate Performance Management 20Summary 23Chapter 2 Strategy in the Next Economy 25Strategy Challenge 25Business as Unusual 26Change and Uncertainty 27Strategy Defined 30Strategy Management 33Integrating Top-down and Bottom-up Strategic Management 34Discontinuities 37Summary 40Chapter 3 Corporate Performance Management Processes 43Event-Driven Approach 43Key CPM Processes 44Summary 62Chapter 4 Measurement and Methodologies 64Does Measurement Make a Difference? 64State of the Measurement Art 67Effective Performance Measurement 71Performance Measurement Methodologies 73Summary 85Chapter 5 Corporate Performance Management Systems 88Impact of Technology on the Finance Function 88Characteristics of CPM Systems 93Architecture of a CPM System 96CPM Data Tier 100CPM Application Tier 111CPM Client Tier 112Summary 121Chapter 6 Corporate Performance Management at Work 122Early Adopter Approach 122Summary 137Chapter 7 Getting Started 139One Piece at a Time 139Choosing the Right Team 140Building a CPM Road Map 142Calculating Return on Investment 152Summary 160Chapter 8 Designing a Corporate Performance Management Solution 162Design Framework 162CPM Data Model 163User Interface 168Reports and Analyses 174Summary 182Chapter 9 Implementing a Corporate Performance Management Solution 184Knowledge and Choices 184Project Planning 185Build or Buy? 188Selecting a CPM Package 192Controlling the Implementation 198Summary 206Chapter 10 What Lies Ahead 207Communicating Value 207Connected World 210Closing the Gap between Finance and Information Technology 213Summary 214wiley.com/go/strategygap (password: Strategy)Appendix A CPM Process Review TemplateAppendix B Strategy into CPM Data Model TemplateAppendix C CPM Project Scope TemplateAppendix D Software Evaluation ChecklistAppendix E Sample Implementation Project PlanAppendix F CPM Vendor Proposal TemplateAppendix G Software Vendor Scorecard TemplateIndex 217