Samir Asaf, President & CEOThe convergence of social, mobile, cloud and big data is taking the present day industry landscape by storm. While breaking down the traditional enterprise barriers, these digital technologies and hyper-connected customers are forcing companies to adapt new, digital strategies that leverage employee, customer, and stakeholder insights for innovation and competitive advantage. “It’s a new era for intelligent Enterprise Performance Management (iEPM) initiatives, driven by real-time collaborative business intelligence from all areas of the business, on all critical success factors,’’ says Samir Asaf, President and CEO of Performax Inc.
Headquartered in Palo Alto, CA, Performax is a full-stack iEPM solution provider that delivers a new digital eco-system for medium and large organizations across industry verticals, enabling ‘continuous touchpoints’ with employees, customers, and business partners on matters that are of critical importance to the organization. By combining this 360-degree feedback from stakeholders with state-of-the-art cognitive analytics (powered by IBM Watson) and artificial intelligence, Performax360 dynamically identifies organizational strengths and weaknesses, and monitors KPI attainment for core functions spanning Operations, IT, Sales & Marketing, HR, Finance & Accounting, and Customer Service, among others.
The platform can further recommend ideas for action, based on best practices derived from Harvard, MIT, McKinsey, and Accenture management journals. This puts CXOs in a better position to increase overall organizational effectiveness.
A major area of focus for Performax360 is harnessing the latest developments in sentiment and emotion analytics to evaluate the ongoing feedback from stakeholders on critical success factors (CSF). In conjunction with big data, Performax360 draws on artificial intelligence (AI) by implementing leading-edge AI methodologies, such as Adaptive Neuro-Fuzzy Inference Systems (ANFIS) to form complex risk exposure 3D hyper-planes and optimization indices for critical success factors within each core function. In the same line, its Context- Aware Intelligent Recommendation System (CAIRS) is driven by artificial intelligence, and interacts with users through voice commands, recommending best practices ideas, and sending real-time performance alerts on mobile devices.
To cite an instance of Performax360’s turnkey solutions at play, a financial services company was seeking to augment employee engagement, thereby accelerating innovation, reducing costs, and saving time.
It’s a new era for intelligent Enterprise Performance Management (iEPM) initiatives, driven by real-time collaborative business intelligence from all areas of the business, on all critical success factors
The client resorted to Performax360’s CSF methodology to boost employee interaction across all branches and executed sentiment analysis for senior, mid-level, and junior employees to unearth areas that needed improvement. Consequently, new, innovative, and actionable insights surfaced from employee feedback data that helped the firm improve its business processes. “Employees felt more engaged, as their ‘voice’ was being heard, and they were highly motivated by the internal awards for good quality feedback, driven by the Performax360 gamification engine,” remarks Asaf. The client realized accelerated innovation, higher transparency, better customer insights, and greater agility in decision-making.
Such leading-edge big data analytics competencies help Performax360 extend— rather than replace—the value and capabilities delivered by traditional EPM platforms. As a SaaS and on-premise platform, it continually works to revamp its analytics models, AI algorithms, and interactive data visualization techniques. Furthermore, the company keeps its best practices knowledgebase updated with fresh management concepts that allow it to stay ahead of the curve as an intelligent recommender system. “Another key differentiator is ‘Expert Connect’,” says Asaf, “which is a platform that provides customers with access to external consultants, for objective outside-in advisory services.”
Performax360 has a lot in store to unveil in the coming days, starting from “further refining the Performax360 VoiceDirect, AI, and cognitive analytics features, so that Performax360 can have deeper conversations with customers”, says Asaf. Performax360 also plans to incorporate up to 600 new assessment products into its current list of 33, along with upgrading the Enterprise Systems Engineering components and functionalities.