Corporate Performance Management (CPM), also called Enterprise Performance Management, is an umbrella term used to describe the methodologies and processes that help to manage an organization’s success. One of the most prominent frameworks is the Balanced Scorecard (BSC), which is a strategic planning and management system that considers several organizational perspectives (in addition to just the financial angle). Organizations are also using the EFQM Excellence Model and Six Sigma. Key Performance Indicators (KPIs) are typically used to measure the success of these frameworks in action.
There are several challenges that can be an obstacle to effective performance management. We can sum them up into just three.Writing a poorly structured strategy – companies fail to pick top priorities and determine how they will support them through goals and actions; failure to communicate strategy– it’s vitally important to communicate the strategy to staff so they know what is expected of them and how to measure success; not measuring progress – the progress made toward goals must be measured on a regular basis. Performance management is an ongoing process. Planning, communicating, measuring and adapting to changing conditions are essential parts of that ongoing cycle.
The Solution – SoftExpert CPM
SoftExpert CPM is a web-based performance management software that helps organizations to manage the strategy formulation process, translate it into practical actions and monitor performance and execution in a simple way.
The solution empowers organizations with a full set of capabilities to transform strategy into operational objectives, driving both behavior and performance, defining and collecting metrics to measure and control business performance and measure progress. Managers can track and analyze performance in real time through flexible and interactive dashboards, improving management comprehension which leads to better, faster and more relevant decisions forward to action.
With the SoftExpert solution for Corporate Performance Management, organizations are confidently and more easily provided consistent access to information with optimized performance. Companies can maximize their investments with a solution that is modular, meeting immediate business demands and challenges, yet integrated for a more complete solution, creating greater value. The solution supports management of performance deviations, strategic and operational risks, projects, action plans, financial resources and processes, as well as a wide range of best-in-class performance management models and practices, like Balanced Scorecard, Six Sigma, and others.
Corporate Performance Management – CPM
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Strategy planning (Strategy Map)
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Measuring and monitoring
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Initiative management
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Performance deviation management
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Real time monitoring on interactive dashboards
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Analysis tools
Main Benefits
Minimize uncertainty and meet KPIs and objectives.
Focus on the indicators that reflect strategy and are most critical.
Manage quantitative data and qualitative updates in one place.
Synchronize communication of goals, strategies and metrics across broad geographic areas and allows users to view, update, share and work on common information simultaneously.
Minimize problems associated with reporting detailed financial and operational data from multiple applications, databases and legacy systems.
Make faster and smarter decisions by capturing and transforming data from operational back-end legacy systems into real-time data storage.
Integrate key management processes within a single IT platform in a closed-loop environment.
Reduce risk with consistently-updated data, version-controlled plans, and driver-based models.
Spend less time compiling numbers and spend more time advising business partners on the insights obtained from self-service and interactive dashboards, even on mobile devices.
Resources
Features
STRATEGY
Strategy mapping and scorecarding with objectives, indicators, tactical plans and everything you need to put your strategy into action.
RISK
Streamlined risk and compliance assessment providing holistic views of data across multiple business environments.
CORRECTIVE ACTIONS
Corrective actions to put underperforming indicators on the right track.
INTEGRATION
Data integration and consolidation from different sources using formulas, spreadsheets and external databases connectors.
ANALYSIS TOOLS
Deep analytics and business intelligence to transform information into actionable insights.
PORTALS
Real-time performance monitoring through personalized dashboards.
Solution Overview
Solution Overview
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Return on Investment (ROI)
Traditionally, when enterprise professionals discuss the ROI of an investment, they are mostly thinking of "financial" benefits. Today, organizations must also consider the "non financial" benefits of an investment.
Financial Benefits include impacts on the organization's budget and finances, e.g., reduced costs or increased revenues.
Non-Financial Benefits are the so-called "intangible", "soft," or "unquantifiable" benefits of an investment. Unlike financial returns, there may be no widely-accepted metrics for organizations to apply. However, the SoftExpert solutions present undeniable potential for producing positive impacts on business performance and mission results. These include improved customer satisfaction, more precise information and a shorter cycle time.
Featured Resources
Ebook
8 Essential Features of Great Performance Management Solutions
Read this eBook to find out which are these features and how they can help on the overall organization’s performance.
White Paper
Do you listen to your performance measures?
What performance measures are really trying to say.
Ebook
How to create effective KPI dashboards
How to create great KPI dashboards, describing every step you need to take to implement them at your own organization.