In official language (thanks Gartner), Corporate Performance Management (CPM) is a term used to describe the methodologies, metrics, processes, and systems used to monitor and manage your business performance. And to enable CPM, you need the tools to provide the functionality to support the aforementioned processes, methodologies, and metrics.
CPM improves the ability of your organisation to resolve issues caused by disconnected data sets and analytical silos — then in turn you have data you and your team can trust. So, you can move from the old way of working where each department in the business did their own thing and looked to the past. Instead, you have a centralised way of planning where everyone can put their trust in an agreed set of data to make day-to-day decisions and create agility for long-term business planning. Forecasting no longer relies on guesswork and purely gut feel; it’s now easier to spot opportunities to save on costs, improve operational performance and identify problems before they turn into showstoppers.
Done right, with the best CPM team and solutions (because one is nothing without the other), you can ensure that your organisation’s strategies and goals are not only executed — they are successful.