Corporate performance management (CPM) software defines and manages the strategies that large companies need to monitor the performance of their business activities. CPM software is used to create and implement methodologies and processes, allowing corporations to track key performance indicators (KPIs) relative to corporate business objectives. This type of software is implemented across the corporation and is used by managers and executives responsible for improving the business performance of the company. In some cases, CPM software may only be deployed by accounting departments to analyze financial performance.
CPM systems consolidate multiple types of business information (financial, operational, sales, etc.) across all the departments of a corporation. For this purpose, CPM needs to integrate with software products such as ERP systems, accounting software, CRM software, or supply chain & logistics software. Integration with governance, risk, and compliance software is also needed to manage risks that may impact business performance.
To qualify for inclusion in the Corporate Performance Management (CPM) category, a product must:
Deliver standard KPIs for different departments (finance, manufacturing, sales, etc.)
Align corporate objectives with operational plans and business processes
Provide strategic planning and management tools such as balance scorecards
Forecast changes in operational metrics and suggest corrective actions
Automate the collection and management of the data needed to monitor performance
Include workflows to automate tasks and processes for business performance tracking
Generate and distribute reports and dashboards on key corporate KPIs
