Enterprise Performance Management (EPM) focuses on managing integrated business processes on a strategic, financial, and operational level to enable an organization to more effectively run its business. EPM can create a competitive advantage for companies that adopt it by enabling them to anticipate and respond to a changing business climate faster than their competitors. This generally includes the following management processes-
- Planning, Forecasting, Budgeting
- Analysis of performance
- Preparing the model for the value creation of the company
- Consolidation of results
Focusing on the EPM space, MindStream Analytics helps companies throughout their journey choose the best solution and its implementation, optimization, and deployment, all the way to managing it post-implementation.
The company offers customers business intelligence and analytic tool selection, predictive modeling development, real-time streaming analytics, application design, and best practices for their financial planning. MindStream Analytics works with clients to find a solution that improves value and offers better insight into their data. MindStream Analytics is a full-service analytics company, whose AppCare solution is recognized by Channel Futures MSP 501.
The Challenging Journey MindStream Analytics
In the beginning, the challenge was name recognition in a crowded space – being able to differentiate yourself from the Global Systems Integrators (GSI’s) and the other boutique firms. As the company grew, it was being able to innovate the types of solutions the marketplace needed with existing resources.
The acceptance of cloud applications in the Finance marketplace has changed a lot as concerns like security and governance were put to rest. There was a perception that cloud applications were “so easy” they didn’t require ongoing application support. That’s where MindStream Analytics came in – they realized there was a need for long-term application support and maintenance of these applications from the finance side, even though the cloud simplified the IT requirements. They created AppCare – the complete managed services for Analytics applications.
The Products and Services-
Essentially our product is data. Your data.
MindStream Analytics helps companies acquire, implement, host, and manage strategic finance solutions designed to grow their business by bringing people, processes, and information together.
Here are some challenges the company has helped to resolve:
- Business, Finance, and IT stakeholders are not aligned on the analytical problem, the solution on how to get there, or the business case for making a change.
- Business users are challenged to define requirements and bring to life the solution vision and benefits.
- There is too little focus on the most critical success factors – internal, external, digital, syndicated, structured, and unstructured data.
MindStream Analytics can help guide you to a solution that enhances your business modeling and enables better analysis and insight into your data. They enable the ability for companies to visualize their data that they’ve been collecting for years and provide analytics that allows you and your subject matter experts to reliably make decisions faster. Their services include-
Advisory and Consulting
MindStream Analytics’s team will help you take your vision and transform it into a winning game plan. They are pioneers at helping organizations win with data and have enabled companies such as Bayer, Chiquita, ING Direct, Stanly/Black & Decker, and Tyco achieve tremendous results with proven ROI.
Solution Implementation
MindStream Analytics supports FP&A teams by offering solutions to enhance strategic planning and modeling, financial budgeting and forecasting, and detailed operational planning. For those overseeing finance activities that include the collection, analysis, and consolidation of financial data, they provide solutions that can optimize the financial close, streamline account reconciliation, and align tax reporting with corporate financial reporting.
AppCare Managed Services
AppCare is their managed services offering that acts as an extension of your team. They use their extensive EPM experience in overseeing applications, supporting users, driving end-user adoption, and administering application extensions to provide customers with key insights and recommendations that are unique to their needs and goals.
Data Management
MindStream’s Data Management team are experts in advising, architecting and implementing data management solutions. Whether you are mired in masses of unorganized data, looking to uncover opportunities to leverage big data, embarking on your first master data management initiative, or simply wanting to move data, they help leverage data for greater business value.
Analytics
Making you the Data Hero, bringing to life your data for insight and relevant decision making. Often management, sales and marketing, finance and HR teams are working to solve a problem, answer a question, execute on a strategic business initiative, MindStream helps you get insight from new data, or simply get an understanding of the past to plan for the future.
Cloud Solutions
The cloud is a new reality, and MindStream Analytics helps bring enterprise cloud solutions to life. Leading organizations are looking to understand and keep up with the latest cloud solutions and how they fit into their enterprise.
Training
MindStream’s approach to user training adheres to the Andragogy Methodology of Adult Learning that ensures that all users are targeted with the most appropriate content in many different ways.
We love challenging work—the messier the data, the better.
Every industry has its own set of Key Performance Indicators (KPIs) but not every company measures them the same way. Some will rely on missing or incorrect data, while others will track the data they have or data that’s easiest to collect. This often results in companies tracking vanity metrics or data that’s not meaningful to their performance. MindStream Analytics helps sort through what matters most.
The company has been able to lower the costs of their implementation services so that they are now accessible to the SMB marketplace. Previously only the Fortune 500 could afford to implement these solutions but the company is now doing implementations for NetSuite, IntAcct, and Microsoft Dynamics customers that gives them a solution that large corporations have had access to for years.
MindStream Analytics’ team is well aware of the fact that to not only survive but, to excel in today’s environment, organizations must have insight across the organization to enable actionable financial decisions that achieve positive business results; those that accomplish this win with data.
We’re the partner to turn unruly, chaotic data into meaningful information for better, faster, and more accurate decision-making.
The Team- Most of the company’s staff is on a hybrid of performance-based compensation. So when times are going well, everyone prospers. In times of uncertainty, like the current pandemic – everyone has to endure a little downside. But they have been able to get through so far without having to lay anyone off – and have even hired on a few new people that some of the competitors have reduced.
