Corporate Performance Management for your business
Corporate Performance Management is the term that describes the methodologies, metrics, processes and systems used to monitor and manage the performance of an enterprise. It encompasses the activities which ensure that the organisation’s goals are consistently being met in an effective and efficient manner.
Included are the processes for defining strategic objectives, measuring performance, analysing performance, reporting and reviewing performance, and aligning the organisation’s people and its culture.
Organizations often struggle to distinguish between the products and terminologies that can sound the same but are distinctly different. Usually the underlying reason is a lack of understanding of how today’s technologies support a variety of business processes.
An uninformed organization would resort to an ecosystem of spreadsheets that sits beside its ERP environment to fulfil certain elements, such as planning, budgeting and financial reporting. This has proved to be a cumbersome, error-prone and unstructured method of producing information. Integrating ERP with CPM offers the opportunity to streamline all of this manual work and enables support for useful and insightful decision-making.
The ideal CPM software should be built to integrate easily with a variety of databases, flat files, external data sources, or other formats including direct access to the partnered ERP system. As ERP integrates with CPM budgeting, reporting, forecasting, financial consolidation, analysis and cash flow planning are all possible with far less labour and far more accuracy.
Corporate performance management encompasses a number of aspects: