Craig Schiff, President & CEO
Business performance management systems have been utilized by companies of all sizes and across all industries since the early 1980s. Though these systems have achieved high levels of success and customer satisfaction, today, they are no longer the province of pioneers and early adopters. Rather, performance management systems have become a key component of critical business infrastructures alongside general ledgers and ERP systems. Therefore, performance management can seldom be considered as static, which has evolved over the years to address changing business requirements while reaping the rewards from more modern technological advances. Equipping oneself with a suitable performance management system required to address a company’s issues to ensure a more favorable outcome is never a concern that should be taken lightly. It is therefore imperative to identify and choose the right product that aligns best with a company’s interests.
“We ensure that our clients get the right product, at the best price, while minimizing risk and maximizing buy-in and adoption. We achieve that by leveraging our deep domain expertise, proven methodologies, exclusive research and consulting tools that we've developed,” begins Craig Schiff, President, and CEO of BPM Partners. Founded in 2002, BPM Partners is the leading independent authority on business performance management (BPM) solutions and a founding member of the BPM Standards Group. BPM Partners' vendor-neutral consultants guide companies through their BPM initiatives from start to finish, helping companies attain the maximum value from their business performance management initiatives. It played a pivotal role within the umbrella of the BPM Standards Group, helping clients to climb higher on the ladder of excellence through performance optimization.
The company helps clients address their budgeting, planning, financial reporting, regulatory compliance, profitability optimization, key performance indicator (KPI) development, and operational performance challenges.
And, it is done through hands-on services that provide insight on how to collect and analyze the right information to address specific business goals. BPM Partners leads clients through needs assessment, project justification, requirements definition, vendor selection, and implementation of departmental or enterprise-wide BPM or business intelligence (BI) systems. By measuring requirements and ensuring to complete business prerequisites through an appropriate partner, BPM Partners helps companies narrow the selection of vendors from a lengthy industry list.
For instance, BPM Partners helped one of its clients develop detailed functional requirements and orchestrated a process that enabled them to validate the vendors they were considering, as well as assisted them in finalizing the deal with their vendor of choice at a significantly better price. Initially, the client’s preferred vendor gave a quote of $4 million for a large-scale performance management solution. Following that, BPM Partners detailed the necessary process requirements and identified other vendors that could perform the task at hand more economically. Once all of the vendors delivered a scripted demo on-site, it confirmed that the preferred vendor was the best at meeting the client’s requirements. Since this now became a more competitive environment amongst the vendors, BPM Partners was able to guide negotiation to a price that was significantly reduced to around $1 million while abiding by the client’s vendor of choice decision.
“Our vendor neutrality is really a unique element that sets us apart; because we neither sell nor directly implement the software, we have no inherent biases,” adds Schiff. As a leading independent authority, BPM Partners is a recognized thought leader in the space, and the company produces an annual report on key vendors called the ‘Vendor Landscape Matrix.’ This document, fully updated yearly, provides detailed information and analysis into the key software vendors of business performance management. BPM Partners also conducts an annual survey called the BPM Pulse, where it identifies essential trends in the budgeting, planning, consolidation and reporting market, and reviews the major vendor solutions from a user satisfaction perspective. The BPM Pulse provides the most comprehensive customer-based view of the Business Performance Management market.
Forging ahead, BPM Partners is committed to continuing its services without drifting away from the company’s core objectives and plans to delve deeper into specific vertical focus areas starting with financial services and manufacturing. “We haven't had to change the model since we started in 2002, and this model has worked and continues to work well. Yet, what we do is more relevant today than it has ever been,” concludes Schiff, exemplifying the company’s proficiency.