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June 2013

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Performance-Based Budgeting Gains Traction with the Help of New Oracle Solutions

As public sector organizations throughout the world feel new pressure to demonstrate the value of their investments based on outcomes for constituents, more of them are turning to performance-based budgeting models.

These initiatives are facilitated by new technology innovations, such as Oracle Hyperion 11.1.2.3, Oracle’s industry-leading enterprise planning, reporting, and financial close applications. The latest version offers new integrations that enable organizations to accurately leverage enterprise resource planning application data and investments while gaining valuable insights into spending.

Performance-based budgeting represents a departure from traditional budgeting activities that rely on spreadsheets and similar tools to create new budgets based on the previous year’s investments. The traditional approach is typically departmental-based, so agencies have few insights into spending and outcomes for programs that span multiple departments, agencies, or even jurisdictions.

Performance-based budgeting addresses many of these shortfalls. “With this model, the emphasis isn’t on the cost of these services, but on the value of the expenditures,” says Robert Sabo, executive director, public sector solutions, Oracle Public Sector. “And instead of being organized along traditional departmental lines, it’s arranged according to priorities and desired outcomes.”

Thanks to the latest business intelligence and analytics solutions, agencies have important new resources for using performance-based budgeting to make better investment decisions, says Jon Desenberg, policy director for The Performance Institute, a research and consulting firm.

“We now have the ability to slice and dice information to really see where our costs are flowing,” he explains. “We can use the latest reporting and dashboard tools to see the relative value of our activities and what they’re actually contributing to organizations.”

Actionable Analytics
For example, Oracle Hyperion enterprise performance management (EPM) applications are part of the Oracle Business Analytics family of products, which combine industry-leading EPM applications with business intelligence technology and analytic applications. Oracle Business Analytics applications lay the foundation for creating an analytics-driven culture that uses real-time insights to improve business outcomes while simplifying IT and managing risk.

“Performance alone isn’t enough to make resource decisions,” Desenberg says. “But together with an organization’s priorities, the combination helps managers decide on the proper budget requests for the coming year.”

Learn more about performance-based budgeting by viewing “Flexible Budgeting to Thrive in an Unstable Environment,” and “Fusing Strategic Plans with Budgeting,” two on-demand Webcasts hosted by Oracle and The Performance Institute.

Read more about the new release of Oracle Hyperion 11.1.2.3 EPM applications and learn more about Oracle Business Analytics applications.

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