CPM Expert Series:
1. CPM: Silver bullet or lead balloon?
CPM solutions are one of the fastest growing software markets in the world today. Gartner group estimates that the global market for CPM reached around 1.87 billion dollars in 2008, a year on year growth rate of around 19%, but what exactly is CPM and what benefits do such solutions offer?
2. You can put lipstick on an ERP but it's still an ERP!
In today’s dynamic business environment there is more pressure than ever to deliver sustainable value growth to stakeholders and the growing enthusiasm for CPM solutions can be seen as a direct result of these increased demands.The choice of the most appropriate technology platform for CPM is often a subject of fierce debate.
3. The case for corporate performance management
CPM initiatives are the subject of debate in many organisations today. The benefits of managing all planning and reporting processes via an integrated technology and process platform would seem to be compelling at first glance. However, there are still those who question the quantifiable value of such initiatives.This paper presents a simple 5 step methodology for developing a compelling quantitative argument for CPM that will not only gain executive backing, but lay the foundation for a successful implementation.
4. An insight into the adoption of a CPM solution
The revolution of improved front office finance applications is upon us. Organisations require more sophisticated software to assist finance departments with delivering more performance-related information and truly become strategic partners to the operations.So how can you be sure that the solutions the vendors offer are the integrated applications they claim to be? How can you be sure that any of them will live up to their claims and deliver the expected benefits once a solution has been purchased? This paper will provide an insight to the evolution of CPM solutions and present a framework to help you evaluate software vendors.
5. Financial Governance: Resistance is futile!
Financial governance may still be a controversial subject in some boardrooms, but in the wake of recent accounting scandals and the affect that the financial crisis continues to have on the global business community it’s an aspect of modern corporate life that is here to stay. Indeed, the impact of this type of oversight has altered the role of the CFO dramatically in the last ten years as finance teams come under growing internal and external pressure to prevent financial irregularities within the enterprise as well as increasing the transparency and reliability of financial processes.
6. Strategic Planning: Moving it out of the boardroom
As the dictionary definition implies, strategy is derived from the ancient Greek word for military leadership and planning. However, a brief analysis of strategic planning processes suggests that if business is war many organisations have little clue as to who they are fighting, what they are fighting for or why they are even fighting in the first place Research has shown that companies that execute their strategies consistently deliver higher levels of shareholder value and remain in the top performing tiers of their markets, yet as Kaplan and Norton note, less than 5% of the typical workforce can articulate their company’s strategy.
7. The Budget: A necessary evil?
Few people enjoy the budgeting process. It can be one of the most problematic, complex and tedious aspects of the business planning cycle. Research has shown that over 50% of companies that use traditional budgeting tools and methods are unhappy with the process and the resulting plan. In most cases the reasons for this widespread discontent can be traced back to two key issues: A poor budgeting process and inappropriate tools.
8. Getting out from beneath the sheets
Finance teams love Excel.They're easy to use, quick to set up and simple to distribute. They allow staff not versed in Information Technology to create and maintain simple business models and share them with their colleagues. It's ironic then, that the very flexibility and openness that make spreadsheets ideal as personal productivity tools undermine their suitability for corporate budgeting and reporting.
9. Collaborative Budgeting
A comprehensive implementation of the document capture features of a CPM system is required in order to collect the rich array of quantitative, qualitative and communications data that underpin collaborative budgeting initiatives. However, the inclusion of all types of data into the budgeting process along with a workflow-based process can provide the enterprise with a 360-degree view of the business environment and the ability to detect problems and opportunities well ahead of the competition..
10. Cash flow and CPM: Capital Punishment!
In today's economic environment finance functions are under more pressure than ever to unlock the cash in their collection processes. However, business structures and supplier relationships are more complex than they have ever been. Globalised corporate infrastructure and acquisition programmes mean that finance functions are often formed of poorly integrated fiefdoms or lack good crossfunctional connections to the revenue generating parts of the business. Why is cash-flow so often an afterthought to CPM?
11. Financial Consolidation: Buy an extra week each month
A recent survey by BPM International indicates that the majority of the top 25 best performing finance departments use financial consolidation and reporting applications to manage their corporate reporting cycle. Since this is the first link in a chain that connects the daily activities of the business to the execution of its strategy such an approach has significant benefits. For example, the same survey showed that while the average finance team took around two weeks to close the books, top performing finance teams completed it in just one week or less.
12. The Last Mile of Finance
Today's corporate environment is a demanding road race where only the leanest and the fittest enterprises reach the highest level of performance. The process of publishing financial results to the market and to statutory bodies is one that is becoming increasingly complex and where the significant logistical challenges of corporate disclosure are complicated by emerging regulatory challenges such as the recent requirement for UK companies to report to the HMRC using iXBRL.
13. Business Intelligence: Make your biggest asset impact your bottom line
These days the terms corporate performance management (CPM) and business intelligence (BI) are often used interchangeably. However, most analysts agree that they refer to two distinct, if related, categories of solution. BI technologies, form an integral part of a CPM solution.
14. CPM Delivery: Rise to the challenge
One of the first questions you as an organisation need to ask yourself is: why do you feel that you need a CPM solution? Admittedly, CPM has been identified as the next big thing in terms of the enhancement of organisational performance, though, opinion alone is never a good rationale for commencing a CPM project. So the question remains: why do you feel that you need a CPM solution?
15. Building a BI System before Implementing CPM: Putting the cart before the horse?
Conventional wisdom suggests that Corporate Performance Management (CPM) applications should be built upon an allpervading Business Intelligence (BI) technology platform, but does such a strategy really make sense? The following discussion examines the prevalent CPM conceptual models, explores the similarities and differences between BI and CPM applications and examines the advantages there may be in implementing a CPM application without a full scale BI data tier to support it.
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