Continuous performance is not merely about measuring and monitoring; it also concerns anticipation and action. Adept performance management requires the establishment of financial and operational targets and the ability to deliver performance results in a timely manner. Effective business intelligence (BI) is an important component of any Enterprise Performance Management (EPM) strategy. Rittman Mead Consulting Pvt Ltd, headquartered in Bangalore, uses Oracle BI and EPM technologies to provide Analytic and Financial Corporate Solutions. The company focuses on delivering a solution instead of offering tools.
“Analytics/BI is at the heart of what we do but the difference lies in our value perception. We showcase the value which a tool provides to the customer rather than purely ‘implementing’ a tool for the customer.” says Venkatakrishnan Janakiraman, India Managing Director, Rittman Mead. The company’s core competency lies in Financial Performance, Financial Planning, Financial Consolidation, Data Analytics, Data Warehousing and Business Intelligence. The company employs Oracle BI Enterprise Edition which is tightly integrated into the entire Oracle Stack.
For Customer Profitability, Rittman Mead provides solutions which are based on two kinds of analysis - Data Analysis and What-If Predictions. In addition, the company has a set of 50 predefined KPIs on Financial Performance. Each KPI is monitored differently depending on the industry. The solutions are built on Oracle products like Hyperion Profitability & Cost Management, Planning and Oracle BI Enterprise Edition. The mechanism of alerting that works on top of KPIs provides real time updates on the performance of KPIs. Depending on the kind of KPIs, alerting can be configured. Rittman Mead serves customers who use alerting to monitor different KPIs. If any of these KPIs go below a certain threshold, an email along with an exception report is sent out to the customer.
“We have a flexible engagement model depending on the customer requirements. One of our key drivers for any engagement is sustainability. We believe in helping the customer in a long term relationship and our key differentiating attribute is our belief in providing value to customers.” Shares Venkatakrishnan. Rittman Mead is one of the select few vendors in India who approach customers with a fixed price and outcome based model for all the engagements.
Rittman Mead also addresses the challenge of data integration faced by cloud platforms and depending on the customer type; it has solutions that meet the customer’s requirements. Having exposure to big customers, the company works with SMEs to make sure all their analytical requirements are taken care of end to end. “We want to build a solid customer base and become a go-to vendor for anything on Data Analytics and Enterprise Performance Management for customers. We are looking to eventually get into strategy consulting, advising businesses on how to derive value out of their data.” concludes Venkatakrishnan.