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Corporate performance management (CPM) software monitors and manages an organization's performance, according to key performance indicators. These can be revenue, return on investment, ROI, or other corporate strategic goals.
These activities are designed to assist with both data-driven operational, short-term planning and strategic long-term planning:
Long-term financial planning
Financial budgeting
Forecasting
Scenario modeling
Management reporting
These features allow CPM users to combine and examine data from multiple entities:
Financial data consolidation
Journal entries and reports
Multi-currency management
Intercompany eliminations
Minority ownership
Local and consolidated reporting
Detailed audit trails
These features assist CPM users with their financial statements and regulatory filings:
Financial statement reporting
Management reporting
Excel-based reporting
Automated board and financial reporting
XBRL support for regulatory filing
These tools for at-a-glance and in-depth analysis help CPM users interpret performance metrics in the context of their company's larger strategic goals:
Personalized dashboards
Color-coded scorecards
KPIs
Cost and profitability analysis
Key Performance Indicator setting
Benchmarking with external data
It is vitally important for a CPM system to integrate with a company's BI system. The BI system feeds the CPM system performance data, which the CPM system links with strategic and financial data for the purpose of higher level planning and assessment. Types of integration include:
Flat file integration
Excel data integration
Direct links to 3rd-party data sources
This is a process-oriented set of tasks that involves financial activities including:
Budgeting
Planning
Forecasting
Financial consolidation and close
Financial reporting and compliance
Analytics and financial reporting
Calculating return on investment (ROI)
Overhead and operational costs
Profitability modeling
Corporate Performance Management (CPM) is a closely related discipline to Business Intelligence (BI).
CPM leverages the data provided by BI to guide the organization towards its strategic objectives. The KPIs and scorecards that are the endpoint of BI systems are the starting point of CPM. CPM software links those metrics to the strategic goals of the organization.
BI is focused on gathering and processing disparate data and presenting it in an easy to digest form like a report or visualization or a dashboard. However, reporting is not necessarily linked to an organization’s strategy. It does not include any mechanisms for planning, controlling, or managing towards business objectives or KPIs.
The fact that these categories are so closely related has led to some category convergence with a number of leading products offering both CPM and BI capabilities in the same platform.
Pricing varies widely depending on whether tools are designed to serve SMBs or enterprises. Subscription pricing structure is usually per seat per month, with lower pricing for read-only seats. Enterprises are typically paying in the region of $25k total subscription price for market leading solutions.
Adaptive Insights provides a unified Business Intelligence (BI) and Corporate Performance Management (CPM) suite of cloud-based software used for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence. The Adaptive Suite is designed for companies and nonprofits o...
Anaplan aims to be the leader in Connected Planning. According to the vendor, the software—powered by their patented Hyperblock engine—enables dynamic, collaborative, and intelligent planning. Large and fast-growing companies worldwide use Anaplan to connect the people and data required for trust...
Prophix’s innovative Corporate Performance Management (CPM) software promises to help you achieve your goals more successfully.Key capabilities and benefits include:Improve profitability and minimize risk when you automate repetitive tasks and focus on what matters. Budget, plan, consolidate and ...
Host Analytics is the leader in cloud-based enterprise performance management (EPM), offering a suite of financial applications for modeling, planning, consolidation, reporting and analytics.
IBM Cognos is an established product with a large user base. It is a full-featured platform comprising Query Studio, Reporting Studio, Analysis Studio and Event Studio, and Cognos Administration along with some newer tools for Microsoft Office integration, full-text search and dashboards. Query ...
The SAP BPC software is designed to help users plan and achieve a faster, more accurate close. The SAP BPC software aims to help users spend more time growing their business and less time closing books. The vendor’s value proposition is that their software delivers planning, budgeting, forecastin...
Tagetik is a corporate performance management solution that unifies budgeting, financial planning, consolidation and management reporting.
Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, Regulatory & Compliance, and other finance-related processes.
BOARD aims to be #1 decision-making platform for organizations of any size. Founded in 1994, BOARD International has enabled more than 3000 companies worldwide to rapidly deploy Business Intelligence, Corporate Performance Management and Predictive Analytics applications on a single unified and p...
Oracle's Corporate Performance Management suite was acquired from Hyperion in 2007. The product is offers a broad suite of capabilities and many customers use only a subset of the platform capabilities.. Oracle has integrated Oracle BI tools to extend the platform further.
SAP Analytics Cloud combines planning, business intelligence, and predictive analytics as a unified cloud-based platform allowing visualization, planning and prediction to be performed within a single tool. It is built on top of the very fast SAP Cloud Platform, and integrates natively with on-p...
Quantrix is designed to allow users to address the limitations and risks inherent to spreadsheets when developing business-critical models. According to the vendor, this solution offers unmatched capability for forecasting, planning, budgeting, risk modeling and visual analytics, and also allows ...
Oracle’s Enterprise Performance Management (EPM) applications combined with the innovation and simplicity of the cloud, enable companies of any size to drive predictable performance, report with confidence, and connect the entire organization. Planning and Budgeting Cloud - Comprehensive plannin...
Jedox is a Business Intelligence and Corporate Performance Management solution. According to the vendor, their solution’s unified planning, analysis and reporting empowers decision makers from finance, sales, purchasing and marketing. Additionally, the vendor says this solution helps business use...
Capital IQ is a market intelligence software solution offered by S&P Global Market Intelligence, which is the result of McGraw Hill Financial's acquisition of SNL Financial.
IBM Cognos TM1 (formerly Applix TM1) is enterprise planning software used to implement collaborative planning, budgeting and forecasting solutions, as well as analytical and reporting applications. Data in IBM Cognos TM1 is stored and represented as multidimensional OLAP cubes, with data being st...
Business Objects SRC is a financial planning / performance management product and was acquired by Business Objects in 2005. SAP acquired Business Objects in 2007, and made the decision to retire the SRC product line in 2008 in order to consolidate their product portfolio. The replacement product ...
Wdesk from Workiva is a cloud platform designed to provide collaboration, data integration, and an audit trail. Wdesk helps mitigate risk, and improves productivity
Hubble® is an integrated suite of performance management apps from insightsoftware.com. This solution offers reporting, analytics and planning in a single real-time solution. The vendor says Hubble integrates a company’s critical business systems so users at all levels have access to live data—...
Workday Financial Management is built on a global foundation that provides organizations with the core financial management capabilities expected from a modern cloud solution. It goes well beyond just managing financial processes to achieve greater insight, improve financial consolidation and red...
Kepion is performance management software that integrates planning, budgeting and forecasting capabilities with analytics, scorecards and dashboards to optimize collaboration and communication within an organization. According to the vendor, Kepion 6.0 simplifies the following business processes...
Solver BI360 is a business intelligence software solution that includes features such as enterprise collaboration, budgeting, and data warehousing.
Axiom Software is a performance management solution that is designed to help finance professionals analyze results, model the future, and optimize organizational decision making. Solutions for long-range planning, budgeting & forecasting, reporting & analytics, consolidations, capital pla...
PowerPlan is a CPM solution focused on helping asset-intensive businesses achieve regulatory compliance.
Infor EPM is a Corporate Performance Management platform with integration into Infor BI tools and the rest of the Infor product portfolio. Infor products are traditionally on-premise, but they are starting to move products to the SaaS delivery model.