Ok, what’s a CPM and why do I need it?”
Good question. The term CPM, or Corporate Performance Management, is an umbrella term. Simply put, it refers to the platform or solution that is providing insights on the health and success of your organization. Not to be confused with human resources and the monitoring of individual performance, training, and development.
As business intelligence and strategy management become the focus for C-Suite and Corporate Finance professionals alike, it becomes increasingly difficult to keep up with requirements and expectations. Balancing the day-to-day reporting, reactionary ad-hoc analytics, as well as managing short-term and long-term projections has become unsustainable.
The ever-increasing responsibility of Finance has led many to invest heavily in Financial Planning & Analysis (FP&A) teams and increase resources, in an attempt to provide answers and manage what seems like a neverending list of requests for data and insights.
Ok, but why is CPM important?
Recent studies have shown that strategy execution is the number one focus for C-Suite. The integration of a CPM platform provides the framework for ensuring strategy is executed. A best in-class CPM will ensure that you can capture strategic goals, track metrics, and provide a workflow solution for capturing, aggregating, and delivering KPIs and actionable insights to the areas of the organization that need it most.
A CPM will enable your organization to:
- Automate and deliver advanced reporting capabilities
- Reduce costs
- Establish actionable insights and define KPIs
- Align organizational strategy
- Create a cohesive workflow for planning and forecasting
How do you choose the right CPM for your organization?
There are a number of tools available to determine which CPM best supports your organization. You can use 3rd party review websites that score platforms such as G2. Alternatively, you can speak with one of our team members about your requirements, and we can assist with your selection and implementation.
Questions about CPM?
Use the web-form or send an email to firstname.lastname@example.org, we’re ready to start the conversation with you.
Solver is a leading provider (Dresner and G2) of cloud applications for the office of finance that help drive faster and better decisions. Founded in 1996, Solver delivers a unified planning, financial reporting & consolidations and analytics platform for Microsoft Dynamics 365 Finance, Microsoft Dynamics 365 Business Central, as well as, the legacy Dynamics ERP solutions and ERPs from other leading vendors (Netsuite, Oracle, Sage intacct, Accumatica).
Your business is evolving. And the way you plan and report on your business should evolve too. Prophix helps mid-market companies achieve their goals more successfully with innovative, cloud-based Corporate Performance Management (CPM) software. With Prophix, finance leaders improve profitability and minimize risk by automating budgeting, forecasting and reporting and puts the focus back on what matters most – uncovering business opportunities.