Data Driven Performance Data Driven Performance Data Driven Performance

In order to be able to act in the long term and create the basis for future growth, companies should understand today's data world, be able to deal with it and use it to create value. But how can a company achieve growth in the digital age and for which processes do data analyses lend themselves? One thing is clear: the complexity of digitalisation and the huge volume of data on the one hand, but also falling margins and dissatisfaction among owners are putting pressure on companies to use their data effectively and to grow qualitatively and reduce costs thanks to suitable analytical tools. Wise application, use and evaluation of statistical findings offer companies great opportunities for development. And this in several fields at once.

So far, many companies use the data they gain during the production or service process largely for process optimisation or service or product improvement. In this process, business development is also tracked by means of key financial figures and more precise information about existing customers is obtained.

Cost reduction programmes are carried out for a limited period of time. After all expenses have been examined and critically scrutinised and potential savings have been implemented, the focus is put on everyday tasks and the cost level rises again.

Many overlook the potential of using a data-driven organisation and available data to reduce costs in the long term and to expand the portfolio with new sales strategies and products. This can generate important changes for a company that pay off in the future and are reflected in the annual growth rate.

In order to permanently prevent the emergence of potential, it is necessary to stay on the ball after the big programme. Ideally, of course, without engaging the entire workforce. This is typically only possible with intelligent, data-driven support.

Adopted measures must be implemented consistently and daily business must be monitored for compliance. If deviations occur, e.g. the ordering of negotiated articles without taking the condition agreement into account, or the double payment of an invoice, deviations in agreed cash discounts, systems should ideally initiate workflows directly or even, if desired, the resolution of the deviation through robotics.

The resulting freedom in everyday life leaves more room for the derivation of strategic elements in order to successively develop further in the future. This concerns, for example, the derivation of strategies in procurement in order to implement long-term and complex measures, but also the screening of processes, e.g. with process mining and automation of repetitive activities.

In addition to optimising conditions in purchasing and sales, the focus is also on reducing manual, repetitive activities. Artificial intelligence can be the key not only to automation but also to increasing effectiveness and efficiency. 

We believe that the future of performance counselling does not lie solely in a point-by-point approach, but that this is only the starting point. Afterwards, a wide range of components must be interlinked. For example, after we have initially identified potential savings in procurement and finance with KREO, these are not only tracked and the expenses analysed via the workflow-supporting platform Sofy, but conspicuous features are also delegated directly to the responsible person. Building on this, the use of data analytics can secure the company's growth in the long term. With our Sofy application Process Mining, processes are optimised in the long term. By using geoanalytics, we support them in location planning by incorporating all necessary influencing factors into the decision.