AUSTIN, Texas, Oct. 24, 2023 /PRNewswire/ -- In recent history, a big bank faced a significant setback due to a "fake accounts scandal," resulting in a staggering $3 billion settlement with the Department of Justice and the Securities and Exchange Commission. This incident wasn't an isolated case but rather a reflection of a pervasive issue in metric reporting and goal-setting across various organizations.
A System and Method for Measuring and Reporting Enterprise Performance and Making Process Improvement
The crux of the problem isn't just about setting the right organizational goals. Traditional methods, such as table-of-numbers, color-coded scorecards, and KPI reporting, often miss tracking metrics from a process-output perspective. This oversight can lead to a lack of encouragement for process improvement, which is crucial for enhancing future metric outcomes.
Enter Smarter Solutions, Inc.'s groundbreaking patent: "Systems and Methods for Measuring and Reporting Enterprise Performance and Making Process Improvements." This innovative system addresses the gaps in metric reporting and paves the way for substantial process enhancements.
Key Features of the Patent:
Integrated Approach: A nine-step Integrated Enterprise Excellence (IEE) business management model.
Dynamic IEE Value Chain: A module showcasing automatically updated, predictively-reported metrics linked with their generating processes.
Interactive Interface: Metrics and processes are clickable, offering in-depth details, accessible to the entire enterprise around the clock.
Data-Driven Insights: Collection of both historical and real-time data for each metric, utilizing statistical models to discern predictive metrics or identify special-cause events requiring immediate attention.
Process Improvement Focus: If a metric indicates an undesirable future trend, it signals the need for process enhancement.
Comprehensive Analysis: The system evaluates process-output based on procedures, supplier inputs, and variability, distinguishing regular output from anomalies or trends.
Enterprise Improvement Plan (EIP): A dedicated module highlighting strategies for enhancing predictive-reported operational metrics, ultimately benefiting the organization's financial health.
Impact Assessment: A module dedicated to evaluating the success and impact of completed EIP projects on the company's financial objectives.
For organizations eager to implement this patented methodology, the Enterprise Performance Reporting System (EPRS) software is now available.
Smarter Solutions, Inc. is committed to driving organizational success through this patented approach, either directly or in collaboration with consulting firms. For a deeper dive or discussions, reach out to [email protected] (512-695-4424) or [email protected] (512-918-0280).
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