The Benefits of Corporate Performance Management
Most often, financial executives feel enormous pressure to present a complete picture of their company’s performance monthly, quarterly, annually, even daily. With challenges like new compliance requirements, manual spreadsheet-based accounting processes, fewer resources, and tighter deadlines, it’s no wonder that many executives feel like their financial reporting process is out of control. Investing in the right solution means positioning oneself, the department and, ultimately, the entire organization for success. Understandably, recognizable cost savings, elimination of cumbersome processes, accessing accurate, dependable information and an easy-to-maintain system, are at the top of the list for many companies when looking for a new financial reporting or budgeting system.
Driven by business and supported by technology, CPM combines management methodologies that focus on performance and analytical reporting. A comprehensive and integrated performance management solution provides several key benefits to executives:
- Accuracy
- Control
- Agility
- Transparency
- Intuitive design for business users
- Compressed planning cycles
- Real-time monitoring & reporting
To deliver an effective performance management solution, the CPM platform needs to address a comprehensive set of business and industry recognized requirements:
- Budgeting, Planning and Forecasting
- Business Financial Reporting
- Financial Consolidations
- GAAP to IFRS Conversion
Companies looking to manage business and corporate performance comprehensively require software for both operational and analytical requirements. nexDimension teams with strategic partners and third-party application providers to deliver comprehensive CPM solutions.