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by Technews
Issue Date: October 2007

Cognos launches new book on proven practices in banking performance management

4 October 2007

Cognos, a business intelligence and performance management solutions vendor, has partnered with industry thought leaders on a new book offering critical insights and proven practices in banking performance management.
The Performance Manager for Banking, developed in collaboration with BI International and PMSI Consulting, is based on the concept of information 'sweet spots' - or key decision areas - and offers bank managers and executives an aggregate view of best practices taken from the most thoughtfully designed and successfully deployed banking performance management initiatives.
Covering strategic industry topics such as risk management, product management, and customer service, the book reviews typical challenges and business issues applicable to each function within a bank, and then details solutions that are based on proven banking practices implemented by the world's leading banks. Templates are included to illustrate what information is required, and how each function - and which role within each function - needs to see it.
"Operational efficiency and organic growth are fundamental benchmarks in the banking market. The challenge is finding innovative ways to service the customer to separate you from the competition. Understanding and incorporating industry best practices is a solid first step to optimising the business model," says Serge Couture, senior manager, Business Intelligence Competency Center, Laurentian Bank of Canada.
The Performance Manager for Banking taps into both the authors' collective expertise in performance management and Cognos' extensive footprint in the financial services industry. Critical insights, proof points and recommendations provided in the book reflect many of the successful performance management strategies Cognos has powered for over 1000 banking customers worldwide, including nine of the top 10 banks in Europe and all of the top 10 banks in the United States.
Says David McWilliam, managing director at Cognos South Africa, "There are many synergies between international and local banking institutions.
Regardless of a bank's size, geographic scope or product mix, the challenges remain the same - increase revenues through effective cross-sell strategies, mitigate risk, adhere to industry regulations, and maximise operational efficiencies through greater visibility into performance. This book spotlights the critical partnership between key decision-makers across a banking organisation, and the people who provide the necessary information that drives better decisions. The book offers a strategic framework for banks to help leapfrog the gaps between first implementation, proven practices and strategic deployment of business intelligence and performance management solutions, on an enterprise scale."
The Performance Manager for Banking is the first industry-specific iteration of The Performance Manager, released in January 2007, and builds on the foundation initiated 10 years ago when Cognos originally commissioned The Multidimensional Manager - 24 Ways to Impact Your Bottom Line in 90 Days and The Multidimensional Organisation: How to Deliver the 24 Ways. Demand led to the printing of more than 400 000 copies, many of which remain in use by organisations worldwide today.

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