Despite the fact that we have written lots about both Corporate Performance Management (CPM) (this post on How Dashboards & Scorecards Can Improve Your Financial Reporting & this post detailing 5 Ways to Convince Your Boss You Need New CPM Financial Software) and Enterprise Performance Management (EPM) (this post on How to Improve Revenue Planning with EPM Software & this post on KPIs: An Essential Component of Enterprise Performance Management), we have never actually defined what is Corporate Performance Management.
There are a number of definitions and competing terms used for Corporate Performance Management (CPM). For example, some of these competing terms include BPM (Business Performance Management), EPM (Enterprise Performance Management) and FPM (Financial Performance Management). Out of these, we prefer the term CPM since it signifies corporate-wide application.
What is CPM?
Corporate Performance Management (CPM) is a process and methodology that provides an integrated approach to business planning, budgeting and forecasting for finance, sales, marketing, operations and HR. Once implemented it links the strategies of an organization to their plans and execution, therefore helping organizations succeed. To support this, CPM includes the following management processes:
- Goal-setting and defining the business model.
- Budgeting, planning, and forecasting.
- Consolidating results and closing the books on a periodic basis.
- Reporting results to internal and external stakeholders.
- Analyzing performance vs. plan, prior years, across divisions or products.
- Then modeling again – creating what-if scenarios.
What is Kepion Planning?
Kepion Planning is a Cash Flow Forecasting Software that provides an integrated approach to business planning, budgeting and forecasting for finance, sales, marketing, operations and HR. With Kepion, data is consolidated into a single platform for reporting and analysis across the enterprise.
Why is CPM important?
Recent studies have shown that strategy execution is the number one area of focus for senior executives today and CPM is a way to help ensure your strategies get executed. By integrating organizational goals, metrics, and projects, your company is aligned around strategic priorities and can focus on the key drivers of the business.
Who is CPM important for?
CPM is important for every company, but especially those looking to:
- Remodel their budget
- Reduce costs
- Better align KPIs
- Upgrade their organizational strategy
- Improve the financial planning process
How can Kepion Planning help my business grow?
Kepion Planning can scale as your business grows. Our flexible app modeling platform allows your business to start with a baseline model for budgeting, forecasting and reporting. So, as your business process grows to more complexity, Kepion can help simplify by automating your complex processes into a streamlined and intuitive process flow within our web interfaces.
Is my business too small to use Kepion Planning?
Kepion provides flexibility for both small and large enterprises to take advantage. Small businesses can leverage one of our pre-built apps to get started quickly, while mid-size to large enterprises can use our Business Intelligence BI modeler tool to build the solutions that fit around the way they work.
What are the business benefits of cloud-based CPM software?
Cloud-based CPM software builds on the benefits of traditional EPM software, making it easier and faster to deploy, reducing the cost of ownership, increasing innovation speed, and supporting enhanced collaboration across the enterprise. It helps organizations automate manual tasks, accelerate key finance processes, and drive better alignment between Finance and operations.
No longer operate under separate planning & reporting processes. With Kepion’s Corporate Performance Management (CPM) Solution, you can collaborate on a single approach for integrated business planning. Designed for the business, by the business, Kepion’s Corporate Performance Management Software allows sales, finance, operations, marketing and HR to configure personalized planning apps specifically to how they work. Kepion’s Dashboards and Scorecards Software helps you visualize performance, plan for efficiencies and track your results. Schedule your demo today to learn more about what Kepion can do for your organization.