CPM is an umbrella term that describes the methodologies, metrics, processes and systems used to monitor and manage the business performance of an enterprise.
The diverse benefits it can offer to your organization include:
- Improved Workflow
- Simplified Calculations
- Comprehensive Data Analysis
In most companies, Performance Management involves multiple people – from C-level executives to back-office administrators. This makes workflow one of the most compelling capabilities of Corporate Performance Management software. Examples of workflow include:
- Marketing plans are entered and approved before users start entering sales forecasts
- Daily operational data is scheduled to import from an ERP overnight, and reports from the data automatically distribute by email
- In the monthly financial consolidation process, managers are asked to approve the adjustments that are made to financial data
The forward-looking nature of CPM software means that it requires more calculations than business intelligence applications, which can be limited in their view of data. Those already familiar with Excel can use Corporate Performance Management software to add ratios and other statistics metrics to a report using spreadsheet-style calculations. In fact, CPM software can pass data between Excel and the software so that all calculations possible in Excel can be incorporated into a business model.
One of the primary benefits of CPM software is the level of detail it offers regarding data analysis. With improved insight, you’ll be better equipped to demonstrate the value of financial data to your department, your company’s c-level executives, and beyond. Comprehensive data analysis will give your company a competitive edge, allowing you to use your data to make informed strategic decisions.
If you’re struggling to manage your workflows, run large-scale calculations, and get insight from your data analysis, your organization will benefit from a Performance Management tool.
Learn more about Corporate Performance Management Software at Best Manufacturing Apps Conference (BMAC) on November 12, 2019 at Microsoft Canada HQ. Reserve your seat now!
