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We’ve been writing about how to improve performance management over the past few weeks. The proof, however, is always in results. Here are some examples of what happens when companies put these ideas into practice.
One of the common hurdles companies face when digitalizing their performance management processes, is starting with ‘messy data’. Cleaning it up seems like a daunting task; tearing up systems, disrupting business as usual and above all, costing time and money. It’s not difficult to see why operational transformation projects fail to get off the ground. The reality, however, is not quite as painful as you might think. It’s more like getting fit – much more doable than you first expect. As long as you have a sustainable action plan, you can whip your performance process into shape.
Last month, Julian and Sophie were invited by Startup Secrets to chat about building a technology idea into a global business. They share their experiences and learnings from the perspectives of a CEO and CMO respectively.
Every organization entering the roaring 20s knows that they must use their financial and operational data as a strategic differentiator to gain a competitive advantage. This article examines the five things all companies must do to accomplish this endeavor.
Managing performance in large retail and hospitality businesses is often a disjointed, inefficient and analog process. As a result, 5% of revenue and 8% of costs are leaked in store each week.
Within the first six weeks, each participating John Lewis store was taking 6-7 significant actions to improve every week in Quorso. These ranged from creating a pop-up to sell Christmas trees in the mall outside (sales +60%) to placing a stationery table in the gift department (+£500 a week). Each week, each participating store added £13,000 of extra revenue from these changes – equating to nearly £700,000 a year per store.
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