Corporate Performance Management
Corporate Performance Management (CPM), also called Enterprise Performance Management, is an umbrella term used to describe the methodologies and processes that help to manage an organization’s success. One of the most prominent frameworks is the Balanced Scorecard (BSC), which is a strategic planning and management system that considers several organizational perspectives (in addition to just the financial angle). Organizations are also using the EFQM Excellence Model and Six Sigma. Key Performance Indicators (KPIs) are typically used to measure the success of these frameworks in action.
There are several challenges that can be an obstacle to effective performance management. We can sum them up into just three.
Writing a poorly structured strategy
– companies fail to pick top priorities and determine how they will support them through goals and actions;
failure to communicate strategy
– it’s vitally important to communicate the strategy to staff so they know what is expected of them and how to measure success;
not measuring progress
– the progress made toward goals must be measured on a regular basis. Performance management is an ongoing process. Planning, communicating, measuring and adapting to changing conditions are essential parts of that ongoing cycle.
The Solution – SoftExpert CPM
Corporate Performance Management – CPM
Strategy Planning - Strategy Map
Measuring and monitoring
Performance Deviation Management
Real time monitoring on interactive dashboards
Minimize uncertainty and meet KPIs and objectives.
Focus on the indicators that reflect strategy and are most critical.
Manage quantitative data and qualitative updates in one place.
Synchronize communication of goals, strategies and metrics across broad geographic areas and allows users to view, update, share and work on common information simultaneously.
Minimize problems associated with reporting detailed financial and operational data from multiple applications, databases and legacy systems.
Make faster and smarter decisions by capturing and transforming data from operational back-end legacy systems into real-time data storage.
Integrate key management processes within a single IT platform in a closed-loop environment.
Reduce risk with consistently-updated data, version-controlled plans, and driver-based models.
Spend less time compiling numbers and spend more time advising business partners on the insights obtained from self-service and interactive dashboards, even on mobile devices.
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