Have you ever heard the phrase "the left hand doesn't know what the right hand is doing?" It's actually based on a bible verse, but is now usually used to bemoan the lack of communication at an organization. This discord can take many forms:
- For example, say your entertainment company needs to do forecasts across its different markets so it can update its advertising strategy.
- To do this, though, you would have to have up-to-date data as well as timely reports, both of which would likely require assistance from the IT department.
- With so much information kept in silos and subject to manual process (e.g., crunching formulas in Excel), you struggle to forecast, plan and budget without huge delays.
In this situation, the "left hand" – of your forecasting requirements – does not know what the "right hand" – of your data-gathering, spreadsheet-manipulating and report-generating processes – is doing. The good news is that this problem is typically rooted in outdated tools, especially manual Excel-driven processes as well as legacy software such as QuickBooks, and so it can be solved by upgrading to modern corporate performance management software.
CPM software helps you identify key metrics.
What do entertainment companies need from a CPM solution?
With a CPM solution such as Adaptive Insights, entertainment firms can ensure they know what both "hands" of their organizations are doing at any given time. This is possible through improved insight into key metrics and performance indicators, helping eliminate the limited visibility that holds back optimal budgeting and forecasting. Its benefits include:
1) Data centralization and collaboration
The entertainment industry is changing rapidly as customers move to mobile platforms and diversify the types of content (video, music, etc.) they consume. Firms must keep up by accelerating their sales modeling and budgeting operations and collaborating more closely across teams. Adaptive Insights is a pivotal asset here because it ensures that the same data, KPIs and dashboards are easily available to everyone. There is finally a single version of the truth.
2 Tons of useful integrations
Your enterprise resource planning and customer relationship management tools, along with Excel, are probably still central pillars of your organization. The good news is that these utilities can be seamlessly hooked up to Adaptive Insights. Data transfers between it and any ERP, CRM or payroll system are easy. You can even set up a linked Excel workbook so all of your tasks and workflows are immediately updated as data is entered or modified.
"CPM software ensures that the same data, KPIs and dashboards are easily available to everyone."
3 Superior automation and usability
Running reports and gleaning useful metrics from your data requires a modern solution. Unlike the 20th-century technology at the heart of Excel et al., Adaptive Insights gives you an experience built from the ground up for intuitive access from a variety of devices. You get a friendly web-based interface, hassle-free updates and, ultimately, freedom from IT – so you may run reports on your schedule, and not theirs.
With the entertainment industry-specific consulting of Arxis Technology, you can implement Adaptive Insights in a way that benefits your organization. Cycle times can be reduced by up to 90 percent by introducing automation, integration and collaboration. Finally, you can have peace of mind that your budgeting and forecasting software can keep up with your changing requirements and ensure that your organization's left hand knows what its right hand is doing.
