Corporate Performance Management solutions typically reside in finance and encompass automation, guidance and control of critical processes and data. The most common examples include budgeting, financial close management and reporting. CPM solutions, with their analytic capabilities, centralised database and workflow automation are increasingly recognised as important in a wide range of departments beyond Finance.
To improve business processes most effectively, and provide the visibility and insight into your numbers, corporate performance management solutions with the automation, acceleration and alignment, provide the following:
- Workflow and collaboration
- Governance and controls
- Integration with disparate data sources, from GL to ERP and other internal or external sources
- A single, stable data repository
- Cloud access and architecture
Workflow is critical to CPM processes, and are of growing importance as part of the process improvements throughout the enterprise. Workflow automation has a high return on investment (ROI) for companies in terms of compliance in business processes, efficiency and productivity, and completion rates of key processes.
A CPM platform is expected to maintain a single version of the truth, with all users working off the same trusted, real-time numbers. An Online Analytical Processing (OLAP), in memory database is required for enabling multi-dimensional queries and analytics, and delivering fast calculations on large volumes of data. It accommodates data types that can range from financials to marketing KPIs and even non-numeric, unstructured data.
The spread of performance management beyond finance is coinciding with the growing popularity of analytics linked to CPM applications. In both cases, it’s clearly good practice to use a single source of truth with all performance management data – financial and otherwise – held in a central data repository. It also makes sense to use a single platform, workflow, modeling and forecasting based on the same set of trusted data. The benefits of such an approach in different operational areas are quickly seen in scalability, reliability, better compliance, and reduction of errors in the business processes that are being automated.
With the right workflow and underlying high-performing database – auditability, accuracy, visibility and completeness in an enterprise platform with trusted results is possible.
At Karabina, we assist companies with CPM solutions with a faster time to value at a significantly reduced total cost of ownership, with improvements into the core business processes a top priority.
The Karabina Offering
Utilising the latest in disruptive cloud-based CPM software and management practices. Karabina can assist you with the following in order to gain the insight you require to trust your numbers:
- Map your CPM strategy
- Collect meaningful information by asking the right questions
- Ensure strategic alignment
- Create a positive learning culture supported by analytics
- Automate appropriately
Karabina’s solutions are:
- Easy to start and fast to implement with time to value as a priority
- Easy to use allowing for increased user adoption and various use cases
- Easy to scale allowing you to grow at your own pace and streamline your implementation.