In todays economy, companies are more aware of business processes as a means to identify new cost-saving opportunities. Where companies would have once slashed IT budgets at the first sign of trouble, the past few years have taught many companies that some software applications can create efficiencies and help the company remain competitive, even while the economy is in a recession. This is echoed in several recent surveys and reports that indicate some aspects of IT spending are not likely to see the same dramatic drop they did earlier this decade. However, the impact will still be felt and new IT investments will be reviewed more carefully.
Industry analysts consider performance management to be a software segment that benefits from the current economy as companies scrutinize their systems and evaluate future needs. Evolved out of data-intensive BI suites, performance management helps users unclutter the mountains of data from across a department or organization to develop actions that align with the corporate strategy. Where query and reporting tends to stop at the data point - providing tactical key performance indicators for managers and senior executives - performance management uncovers reasons and helps identify best practices through key business processes. Performance management goes beyond query and reporting, extrapolating information from disparate systems across the enterprise and then tailoring the information according to a users specific role in the company, which helps the user do his or her job better and leads to higher performance of the overall organization.
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