Embrace Corporate Performance Management to Enhance Your Business

CPM Can Do It for Your Business

When it comes to improving business performance, quite a bit of jargon gets thrown around. Corporate performance management (CPM), for example, is often used to refer to business performance management and enterprise performance management, but these terms don't always refer to the same thing.


CPM improves a company's capability. It helps the company enhance three fundamental values: performance monitoring, information delivery, and performance effectiveness. These values assist in understanding, improving, and managing the business. Within an integrated ecosystem, a corporate performance management system coordinates the performance of managers, employees, customers, and suppliers. Information access and strategic planning are the foundations of corporate performance management.

3 Reasons Why You Need Corporate Performance Management (CPM)

In the era of exploding business intelligence, businesses need to embrace process automation. CPM may profoundly impact your team's productivity, coherence, insight, and more.

CPM functions are critical to the C-suite and the long-term success of an organization. As a result, several businesses have developed departments solely dedicated to strategy and performance management. Let's look at the top reasons why you should use CPM for your business.

Addressing Challenges in Financial Data

Compiling your financial data takes time. To see and organize your financial data easily and quickly, you can use CPM software to connect with your ERP system. This application will also make the finance team's job simpler. It will be easier to understand and manage the projected estimates and how important they are.

Real-time Feedback

Smart dashboards in business performance management or CPM software provide every quantifiable statistic that a management team will need to use in its decision-making. Even though there are so many different types of data, it can be a good thing to read and use it as changes happen in real-time in the company.

Streamlined Reporting

Most businesses have several individuals involved in performance management, right from C-level executives to back-office administrators. Although not everyone is actively participating in the performance management process, many users need access to and analysis of reports.

CPM technology for a business focuses on a single source of information or data. That is why it provides greater control over it. It also gives more control and security over the results that come out of the process.

Who Uses CPM?

Earlier, CPM was primarily used by businesses with more than 1,000 workers. However, due to the affordability and simplicity of next-generation CPM solutions, dynamic and ambitious organizations from the startup phase to the enterprise level are now utilizing them. This is one of the prime reasons for the rapid increase in the CPM software market.

Companies that sense an opportunity to grow, large businesses that operate globally, organizations that merge with others, and businesses that strive to improve company performance are the most likely to use CPM.

Overcoming the Corporate Performance Management Challenges

When a business imparts great performance management throughout the workplace, critical expectations and desired outcomes must be set. Also, this does not always go as planned. As a result, CPM presents significant challenges that need immediate attention, as stated below.

Strategic Alignment

This involves ensuring that all organizational processes and essential components, such as finances, project and program management, risk management, etc., align with the primary goal.

Smart Automation

A poorly implemented CPM will result in complete failure. To make sure that information can be easily integrated, processed, and reported to meet specific standards, a company should build an ICT infrastructure that is easy to use, complete, and appropriate.

Synchronization of Objectives

Businesses should not depend only on current tactics while neglecting to develop their own. Instead, they should focus on getting their main objectives out in the open so that CPM and all stakeholders are on the same page.

Things to Consider While Choosing a CPM Platform

Before investing in corporate performance management software, understand your team’s requirements. What manual tasks do they currently execute? What tools will the team require to keep pace with the growth of the company?

Here we have mentioned the top three things to consider while choosing a CPM platform for business.

Usability

You want your employees to be passionate about the platform and its potential; choose an option that will significantly enhance their day-to-day functioning. Involve your team in the process of choosing a platform so they can give their opinion on how easy it is to use.

A user-friendly and accessible CPM system will lead to successful training, deployment, and an instant ROI.

Integrations with Existing Tools

Make sure your new CPM system can integrate with your existing systems. You may want to import data from your ERP system, BI tools, and spreadsheets in real-time to save time and effort by copying and pasting data between applications. Manual data re-entry takes a lot of time and puts data at risk of being missed or entered incorrectly.

This integration is crucial if your business utilizes a data warehouse to integrate data from multiple cloud tools. To do more analysis, you can also export data from the CPM platform into models and spreadsheets and presentations and word documents.

Value to the Organization

The cheapest option is not always the best one for your business. Evaluate the value of the software to the team, leadership, and organization. How can the program improve efficiency, offer accurate business visibility, and assist with data-driven decisions? This is where value is measured.

Conclusion

Corporate performance management is the framework that connects your organizational objectives with planning, enabling successful strategy implementation. Investing in CPM software will increase a company's efficiency by handling a reasonably straightforward process. When employees are free from tiresome activities, they can be employed for something useful that will contribute to the company's development.

“The true measure of the value of any business leader and manager is performance.”

– Brian Tracy

Frequently Asked Questions


What Is the Role of CPM in Business?

CPM software, which was earlier used in finance departments, is now meant to be used enterprise-wide, usually complementing business intelligence systems. There are graphical scorecards and dashboards for displaying corporate information in the CPM software. Forecasting, budgeting, and planning are some of the features that come with the software.

What Are the Primary Corporate Performance Metrics?

CPM is an aspect of business intelligence (BI) that includes monitoring and controlling a company's performance based on key performance indicators (KPIs) such as revenue, ROI, overhead, and operational expenses.

What Is the Difference Between CPM and EPM?

CPM concentrates on delivering a company-wide performance management solution, especially for the organization's finance department. EPM focuses on the overall performance of the organization, going beyond the finance departments to sales, marketing, supply chain, and other areas.

Spotlight

Energisme

Energisme is the software platform at the heart of energy intelligence. It allows companies and local authorities to take control of their energy expenses. Developed around innovative technologies, it collects and aggregates all types of multi-fluid data coming from heterogeneous sources.

OTHER ARTICLES
Business Strategy

How Artificial Intelligence Is Transforming Businesses

Article | July 22, 2022

Whilst there are many people that associate AI with sci-fi novels and films, its reputation as an antagonist to fictional dystopic worlds is now becoming a thing of the past, as the technology becomes more and more integrated into our everyday lives.AI technologies have become increasingly more present in our daily lives, not just with Alexa’s in the home, but also throughout businesses everywhere, disrupting a variety of different industries with often tremendous results. The technology has helped to streamline even the most mundane of tasks whilst having a breath-taking impact on a company’s efficiency and productivity.However, AI has not only transformed administrative processes and freed up more time for companies, it has also contributed to some ground-breaking moments in business, being a must-have for many in order to keep up with the competition.

Read More
Business Strategy

DRIVING DIGITAL TRANSFORMATION WITH RPA, ML AND WORKFLOW AUTOMATION

Article | May 31, 2022

The latest pace of advancements in technology paves way for businesses to pay attention to digital strategy in order to drive effective digital transformation. Digital strategy focuses on leveraging technology to enhance business performance, specifying the direction where organizations can create new competitive advantages with it. Despite a lot of buzz around its advancement, digital transformation initiatives in most businesses are still in its infancy.Organizations that have successfully implemented and are effectively navigating their way towards digital transformation have seen that deploying a low-code workflow automation platform makes them more efficient.

Read More
Business Strategy

AI and Predictive Analytics: Myth, Math, or Magic

Article | May 13, 2022

We are a species invested in predicting the future as if our lives depended on it. Indeed, good predictions of where wolves might lurk were once a matter of survival. Even as civilization made us physically safer, prediction has remained a mainstay of culture, from the haruspices of ancient Rome inspecting animal entrails to business analysts dissecting a wealth of transactions to foretell future sales. With these caveats in mind, I predict that in 2020 (and the decade ahead) we will struggle if we unquestioningly adopt artificial intelligence (AI) in predictive analytics, founded on an unjustified overconfidence in the almost mythical power of AI's mathematical foundations. This is another form of the disease of technochauvinism I discussed in a previous article.

Read More

Predictive analytics vs AI Why the difference matters

Article | February 10, 2020

There are few movie scenes I can recall from my childhood, but I vividly remember seeing the 1968 Stanley Kubrick sci-fi movie 2001 A Space Odyssey in 1970 with my older cousin. What stays with me to this day is the scene where astronaut Dave asks HAL, the homicidal computer based on artificial intelligence (AI), to open the pod bay doors. HAL's eerie reply: I'm sorry, Dave. I'm afraid I can't do that.In that moment, the concept of man vs. machine was created, predicated on the idea that machines created by man and using AI could (eventually) defy orders, position themselves in the vanguard, and overthrow humankind. Fast forward to today. Within the information governance space, there are two terms that have been used quite frequently in recent years analytics and AI. Often they are used interchangeably and are practically synonymous.

Read More

Spotlight

Energisme

Energisme is the software platform at the heart of energy intelligence. It allows companies and local authorities to take control of their energy expenses. Developed around innovative technologies, it collects and aggregates all types of multi-fluid data coming from heterogeneous sources.

Related News

Big Data

Airbyte Racks Up Awards from InfoWorld, BigDATAwire, Built In; Builds Largest and Fastest-Growing User Community

Airbyte | January 30, 2024

Airbyte, creators of the leading open-source data movement infrastructure, today announced a series of accomplishments and awards reinforcing its standing as the largest and fastest-growing data movement community. With a focus on innovation, community engagement, and performance enhancement, Airbyte continues to revolutionize the way data is handled and processed across industries. “Airbyte proudly stands as the front-runner in the data movement landscape with the largest community of more than 5,000 daily users and over 125,000 deployments, with monthly data synchronizations of over 2 petabytes,” said Michel Tricot, co-founder and CEO, Airbyte. “This unparalleled growth is a testament to Airbyte's widespread adoption by users and the trust placed in its capabilities.” The Airbyte community has more than 800 code contributors and 12,000 stars on GitHub. Recently, the company held its second annual virtual conference called move(data), which attracted over 5,000 attendees. Airbyte was named an InfoWorld Technology of the Year Award finalist: Data Management – Integration (in October) for cutting-edge products that are changing how IT organizations work and how companies do business. And, at the start of this year, was named to the Built In 2024 Best Places To Work Award in San Francisco – Best Startups to Work For, recognizing the company's commitment to fostering a positive work environment, remote and flexible work opportunities, and programs for diversity, equity, and inclusion. Today, the company received the BigDATAwire Readers/Editors Choice Award – Big Data and AI Startup, which recognizes companies and products that have made a difference. Other key milestones in 2023 include the following. Availability of more than 350 data connectors, making Airbyte the platform with the most connectors in the industry. The company aims to increase that to 500 high-quality connectors supported by the end of this year. More than 2,000 custom connectors were created with the Airbyte No-Code Connector Builder, which enables data connectors to be made in minutes. Significant performance improvement with database replication speed increased by 10 times to support larger datasets. Added support for five vector databases, in addition to unstructured data sources, as the first company to build a bridge between data movement platforms and artificial intelligence (AI). Looking ahead, Airbyte will introduce data lakehouse destinations, as well as a new Publish feature to push data to API destinations. About Airbyte Airbyte is the open-source data movement infrastructure leader running in the safety of your cloud and syncing data from applications, APIs, and databases to data warehouses, lakes, and other destinations. Airbyte offers four products: Airbyte Open Source, Airbyte Self-Managed, Airbyte Cloud, and Powered by Airbyte. Airbyte was co-founded by Michel Tricot (former director of engineering and head of integrations at Liveramp and RideOS) and John Lafleur (serial entrepreneur of dev tools and B2B). The company is headquartered in San Francisco with a distributed team around the world. To learn more, visit airbyte.com.

Read More

Big Data Management

data.world Integrates with Snowflake Data Quality Metrics to Bolster Data Trust

data.world | January 24, 2024

data.world, the data catalog platform company, today announced an integration with Snowflake, the Data Cloud company, that brings new data quality metrics and measurement capabilities to enterprises. The data.world Snowflake Collector now empowers enterprise data teams to measure data quality across their organization on-demand, unifying data quality and analytics. Customers can now achieve greater trust in their data quality and downstream analytics to support mission-critical applications, confident data-driven decision-making, and AI initiatives. Data quality remains one of the top concerns for chief data officers and a critical barrier to creating a data-driven culture. Traditionally, data quality assurance has relied on manual oversight – a process that’s tedious and fraught with inefficacy. The data.world Data Catalog Platform now delivers Snowflake data quality metrics directly to customers, streamlining quality assurance timelines and accelerating data-first initiatives. Data consumers can access contextual information in the catalog or directly within tools such as Tableau and PowerBI via Hoots – data.world’s embedded trust badges – that broadcast data health status and catalog context, bolstering transparency and trust. Additionally, teams can link certification and DataOps workflows to Snowflake's data quality metrics to automate manual workflows and quality alerts. Backed by a knowledge graph architecture, data.world provides greater insight into data quality scores via intelligence on data provenance, usage, and context – all of which support DataOps and governance workflows. “Data trust is increasingly crucial to every facet of business and data teams are struggling to verify the quality of their data, facing increased scrutiny from developers and decision-makers alike on the downstream impacts of their work, including analytics – and soon enough, AI applications,” said Jeff Hollan, Director, Product Management at Snowflake. “Our collaboration with data.world enables data teams and decision-makers to verify and trust their data’s quality to use in mission-critical applications and analytics across their business.” “High-quality data has always been a priority among enterprise data teams and decision-makers. As enterprise AI ambitions grow, the number one priority is ensuring the data powering generative AI is clean, consistent, and contextual,” said Bryon Jacob, CTO at data.world. “Alongside Snowflake, we’re taking steps to ensure data scientists, analysts, and leaders can confidently feed AI and analytics applications data that delivers high-quality insights, and supports the type of decision-making that drives their business forward.” The integration builds on the robust collaboration between data.world and Snowflake. Most recently, the companies announced an exclusive offering for joint customers, streamlining adoption timelines and offering a new attractive price point. The data.world's knowledge graph-powered data catalog already offers unique benefits for Snowflake customers, including support for Snowpark. This offering is now available to all data.world enterprise customers using the Snowflake Collector, as well as customers taking advantage of the Snowflake-only offering. To learn more about the data quality integration or the data.world data catalog platform, visit data.world. About data.world data.world is the data catalog platform built for your AI future. Its cloud-native SaaS (software-as-a-service) platform combines a consumer-grade user experience with a powerful Knowledge Graph to deliver enhanced data discovery, agile data governance, and actionable insights. data.world is a Certified B Corporation and public benefit corporation and home to the world’s largest collaborative open data community with more than two million members, including ninety percent of the Fortune 500. Our company has 76 patents and has been named one of Austin’s Best Places to Work seven years in a row.

Read More

Business Strategy

Devo Security Data Platform Attains FedRAMP Authorization

Devo | January 09, 2024

Devo Technology, the security data analytics company, today announced that the Devo Security Data Platform received Authorization to Operate (ATO) at the Moderate level under the Federal Risk and Authorization Management Program (FedRAMP). The Devo Security Data Platform successfully completed FedRAMP's rigorous accreditation process, enabling federal agencies to secure their environments with a market-leading security information and event management (SIEM). Agencies and their partners can now leverage Devo to solve their toughest IT and security challenges with unparalleled visibility and a unified view of risk posture, security operations and the threat landscape. The demand to keep pace with rapidly evolving cyber threats at cloud speed and scale has never been higher for the U.S. government. New Office of Management and Budget (OMB) regulations require federal agencies to collect and retain logs for long time periods. These requirements strain legacy SIEM and logging solutions, resulting in higher license and maintenance costs and slower query times. The Devo Security Data Platform's massive ingestion capabilities overcome these challenges and enable agencies to manage petabytes of data—from any device or application—cost-effectively and performantly in the cloud. Kayla Williams, CISO, Devo, said: "Devo relentlessly maintains the highest standards of internal security controls to ensure customers can protect themselves from security threats with peace of mind. Commercial customers have used the Devo Security Data Platform in the cloud for years, and this milestone enables us to continue to extend the same seamless experience to federal agencies and their partners." The Small Business Administration sponsored Devo's authorization. FedRAMP was established to provide a cost-effective, risk-based approach for the adoption and use of cloud services by the federal government. FedRAMP empowers agencies to use modern cloud technologies with an emphasis on the security and protection of federal information. The Devo Security Data Platform is also available in the AWS GovCloud Marketplace, an isolated AWS Region designed to host sensitive data and regulated workloads in the cloud, assisting customers with U.S. federal, state and local government compliance requirements. About Devo Devo unleashes the power of the SOC. The Devo Security Data Platform, powered by our HyperStream technology, is purpose-built to provide the speed and scale, real-time analytics, and actionable intelligence global enterprises need to defend expanding attack surfaces. An ally in keeping your organization secure, Devo combines the power of people and AI to augment security teams, leading to better insights and faster outcomes. Headquartered in Cambridge, Massachusetts, with operations in North America, Europe and Asia Pacific, Devo is backed by Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures and Eurazeo. Learn more at www.devo.com.

Read More

Big Data

Airbyte Racks Up Awards from InfoWorld, BigDATAwire, Built In; Builds Largest and Fastest-Growing User Community

Airbyte | January 30, 2024

Airbyte, creators of the leading open-source data movement infrastructure, today announced a series of accomplishments and awards reinforcing its standing as the largest and fastest-growing data movement community. With a focus on innovation, community engagement, and performance enhancement, Airbyte continues to revolutionize the way data is handled and processed across industries. “Airbyte proudly stands as the front-runner in the data movement landscape with the largest community of more than 5,000 daily users and over 125,000 deployments, with monthly data synchronizations of over 2 petabytes,” said Michel Tricot, co-founder and CEO, Airbyte. “This unparalleled growth is a testament to Airbyte's widespread adoption by users and the trust placed in its capabilities.” The Airbyte community has more than 800 code contributors and 12,000 stars on GitHub. Recently, the company held its second annual virtual conference called move(data), which attracted over 5,000 attendees. Airbyte was named an InfoWorld Technology of the Year Award finalist: Data Management – Integration (in October) for cutting-edge products that are changing how IT organizations work and how companies do business. And, at the start of this year, was named to the Built In 2024 Best Places To Work Award in San Francisco – Best Startups to Work For, recognizing the company's commitment to fostering a positive work environment, remote and flexible work opportunities, and programs for diversity, equity, and inclusion. Today, the company received the BigDATAwire Readers/Editors Choice Award – Big Data and AI Startup, which recognizes companies and products that have made a difference. Other key milestones in 2023 include the following. Availability of more than 350 data connectors, making Airbyte the platform with the most connectors in the industry. The company aims to increase that to 500 high-quality connectors supported by the end of this year. More than 2,000 custom connectors were created with the Airbyte No-Code Connector Builder, which enables data connectors to be made in minutes. Significant performance improvement with database replication speed increased by 10 times to support larger datasets. Added support for five vector databases, in addition to unstructured data sources, as the first company to build a bridge between data movement platforms and artificial intelligence (AI). Looking ahead, Airbyte will introduce data lakehouse destinations, as well as a new Publish feature to push data to API destinations. About Airbyte Airbyte is the open-source data movement infrastructure leader running in the safety of your cloud and syncing data from applications, APIs, and databases to data warehouses, lakes, and other destinations. Airbyte offers four products: Airbyte Open Source, Airbyte Self-Managed, Airbyte Cloud, and Powered by Airbyte. Airbyte was co-founded by Michel Tricot (former director of engineering and head of integrations at Liveramp and RideOS) and John Lafleur (serial entrepreneur of dev tools and B2B). The company is headquartered in San Francisco with a distributed team around the world. To learn more, visit airbyte.com.

Read More

Big Data Management

data.world Integrates with Snowflake Data Quality Metrics to Bolster Data Trust

data.world | January 24, 2024

data.world, the data catalog platform company, today announced an integration with Snowflake, the Data Cloud company, that brings new data quality metrics and measurement capabilities to enterprises. The data.world Snowflake Collector now empowers enterprise data teams to measure data quality across their organization on-demand, unifying data quality and analytics. Customers can now achieve greater trust in their data quality and downstream analytics to support mission-critical applications, confident data-driven decision-making, and AI initiatives. Data quality remains one of the top concerns for chief data officers and a critical barrier to creating a data-driven culture. Traditionally, data quality assurance has relied on manual oversight – a process that’s tedious and fraught with inefficacy. The data.world Data Catalog Platform now delivers Snowflake data quality metrics directly to customers, streamlining quality assurance timelines and accelerating data-first initiatives. Data consumers can access contextual information in the catalog or directly within tools such as Tableau and PowerBI via Hoots – data.world’s embedded trust badges – that broadcast data health status and catalog context, bolstering transparency and trust. Additionally, teams can link certification and DataOps workflows to Snowflake's data quality metrics to automate manual workflows and quality alerts. Backed by a knowledge graph architecture, data.world provides greater insight into data quality scores via intelligence on data provenance, usage, and context – all of which support DataOps and governance workflows. “Data trust is increasingly crucial to every facet of business and data teams are struggling to verify the quality of their data, facing increased scrutiny from developers and decision-makers alike on the downstream impacts of their work, including analytics – and soon enough, AI applications,” said Jeff Hollan, Director, Product Management at Snowflake. “Our collaboration with data.world enables data teams and decision-makers to verify and trust their data’s quality to use in mission-critical applications and analytics across their business.” “High-quality data has always been a priority among enterprise data teams and decision-makers. As enterprise AI ambitions grow, the number one priority is ensuring the data powering generative AI is clean, consistent, and contextual,” said Bryon Jacob, CTO at data.world. “Alongside Snowflake, we’re taking steps to ensure data scientists, analysts, and leaders can confidently feed AI and analytics applications data that delivers high-quality insights, and supports the type of decision-making that drives their business forward.” The integration builds on the robust collaboration between data.world and Snowflake. Most recently, the companies announced an exclusive offering for joint customers, streamlining adoption timelines and offering a new attractive price point. The data.world's knowledge graph-powered data catalog already offers unique benefits for Snowflake customers, including support for Snowpark. This offering is now available to all data.world enterprise customers using the Snowflake Collector, as well as customers taking advantage of the Snowflake-only offering. To learn more about the data quality integration or the data.world data catalog platform, visit data.world. About data.world data.world is the data catalog platform built for your AI future. Its cloud-native SaaS (software-as-a-service) platform combines a consumer-grade user experience with a powerful Knowledge Graph to deliver enhanced data discovery, agile data governance, and actionable insights. data.world is a Certified B Corporation and public benefit corporation and home to the world’s largest collaborative open data community with more than two million members, including ninety percent of the Fortune 500. Our company has 76 patents and has been named one of Austin’s Best Places to Work seven years in a row.

Read More

Business Strategy

Devo Security Data Platform Attains FedRAMP Authorization

Devo | January 09, 2024

Devo Technology, the security data analytics company, today announced that the Devo Security Data Platform received Authorization to Operate (ATO) at the Moderate level under the Federal Risk and Authorization Management Program (FedRAMP). The Devo Security Data Platform successfully completed FedRAMP's rigorous accreditation process, enabling federal agencies to secure their environments with a market-leading security information and event management (SIEM). Agencies and their partners can now leverage Devo to solve their toughest IT and security challenges with unparalleled visibility and a unified view of risk posture, security operations and the threat landscape. The demand to keep pace with rapidly evolving cyber threats at cloud speed and scale has never been higher for the U.S. government. New Office of Management and Budget (OMB) regulations require federal agencies to collect and retain logs for long time periods. These requirements strain legacy SIEM and logging solutions, resulting in higher license and maintenance costs and slower query times. The Devo Security Data Platform's massive ingestion capabilities overcome these challenges and enable agencies to manage petabytes of data—from any device or application—cost-effectively and performantly in the cloud. Kayla Williams, CISO, Devo, said: "Devo relentlessly maintains the highest standards of internal security controls to ensure customers can protect themselves from security threats with peace of mind. Commercial customers have used the Devo Security Data Platform in the cloud for years, and this milestone enables us to continue to extend the same seamless experience to federal agencies and their partners." The Small Business Administration sponsored Devo's authorization. FedRAMP was established to provide a cost-effective, risk-based approach for the adoption and use of cloud services by the federal government. FedRAMP empowers agencies to use modern cloud technologies with an emphasis on the security and protection of federal information. The Devo Security Data Platform is also available in the AWS GovCloud Marketplace, an isolated AWS Region designed to host sensitive data and regulated workloads in the cloud, assisting customers with U.S. federal, state and local government compliance requirements. About Devo Devo unleashes the power of the SOC. The Devo Security Data Platform, powered by our HyperStream technology, is purpose-built to provide the speed and scale, real-time analytics, and actionable intelligence global enterprises need to defend expanding attack surfaces. An ally in keeping your organization secure, Devo combines the power of people and AI to augment security teams, leading to better insights and faster outcomes. Headquartered in Cambridge, Massachusetts, with operations in North America, Europe and Asia Pacific, Devo is backed by Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures and Eurazeo. Learn more at www.devo.com.

Read More

Events