Benefits of Utilizing Corporate Performance Management (CPM) Systems
The behind-the-scenes, administrative tasks are important for a successful business, but they are often too complex to visualize using just pen and paper or elementary software programs. By implementing a powerful Corporate Performance Management (CPM) system, such as Management Reporter for Microsoft Dynamics ERP, business owners can now spend less time on administrative tasks and more time doing what they love: delighting their customers, employees, partners and shareholders.
Management Reporter for Microsoft Dynamic ERP is a great example of a strong CPM solution for mid-to-large-sized businesses. It provides real-time financial reporting to help present a greater transparency across departments.
This blog details 5 criteria you should use when evaluating which Corporate Performance Management system to implement.
1. User interface
The software needs to be easy-to-use and allows the user to select a starting point. “Wizards” and tutorials for those who are not familiar with the program should be available. Learning a whole layout should not be necessary if software looks similar to other products already being used by your team (Microsoft Office, for example).
2. Team work
Increased collaboration between departments requires software that is easily accessed by multiple team members. The CPM application should offer options such as these:
- Schedule reports on a periodic basis
- Publish read-only files
- Publish reports to multiple Microsoft SharePoint or any other network location
- Compatible with Microsoft Excel files
- Secured and personalized view of data
- Email reports
3. Viewing options
The data should be able to be viewed in chart format, creating easily digestible, visual results. The user should be able add comments in the report version to add analysis, copy comments from one report to another, and the ability to launch an instant messenger within a report to discuss with the client or team member will add great value.
4. Design Flexibility
Two CPM system features make work easier:
- Identification of accounts/dimensions that have been deleted from report building blocks
- Easily formatted headers for rolling forecasts
With so much of your data stored in one place, well-secured software is a must. The administrator within the program should be able to grant permissions to the entire report library, as well to specific folders and files.
A powerful Corporate Performance Management system, such as Management Reporter for Dynamics, is a key ingredient to business success in the current economic and competitive climate. Any organization that relies on up-to-date information will benefit greatly from an easy-to-use, visual CPM software program.
For more information, visit our Financials and Accounting page.