What is Corporate Performance Management (CPM)?

Corporate performance management (CPM) is an umbrella term used to described the methodologies and processes to manage the success of an organization. A subset of business intelligence, CPM is the tracking and monitoring of a businesses’ overall performance based on key performance indicators (KPIs). CPM integrates business planning, sales, marketing, forecasting and budgeting for finance, human resources and operations to get a comprehensive view of the organization, rather than tracking goals in silos. An effective CPM strategy can help businesses reduce costs, improve financial planning, and better align goals by ensuring the entire organization, not just key stakeholders, have access to the right information and can work efficiently.

A CPM strategy is often supported by an application, or suite of applications, that automate and streamline financial and operational reports, consolidations, budgeting, and forecasting processes to allow team members to spend time on driving business insight rather than manual, time-consuming tasks. CPM software allows business leaders and financial departments to accurately analyze past and current data to make more informed decisions about the direction of their organization. Detailed analytic information is key in financial strategy and planning, and CPM software consolidates financial data into one easily accessible place.

Solver Suite, formerly called BI360, is a cloud-based CPM solution that automates consolidations, reporting, budgeting, and planning processes to maximize decision-making capabilities by bringing together data from across the organization’s data sources. Solver seamlessly integrates with ERP systems and other business applications to effortlessly obtain the data that you need in real-time.

Solver Suite includes four key modules to build your CPM strategy:

• Reporting – quickly and easily create reports using Solver’s cloud connected, Excel add-in, then collaborate with other users in a web-based portal
• Planning – a complete solution for budgeting, forecasting, and essential data entry needs with automatic spreading, templates, user-defined input forms, unlimited budget versions and more
• Dashboards – create dashboards through an integration with Power BI to analyze operational and financial data with fully customized layouts and interactive charts and tables
• Data Warehouse – utilize a preconfigured data warehouse based on the Microsoft SQL Azure platform that can integrate key data sources to make data easily accessible

Rand Group’s team of data scientists, accountants, and application specialists can help you create a CPM and data strategy that meets the needs of your organization. We take a holistic approach to analyzing your reporting and business intelligence needs to make sure you have the right solutions in place to ensure you have access to the insights you need to evolve your business. As a Solver Partner, our business application experts are recognized as leading Solver specialists in implementing robust CPM solutions. Contact our team to get started today.