Gartner recently released new research on Critical Capabilities for Corporate Performance Management Suites that evaluates 12 vendors across 9 critical capabilities in CPM. It allows you to look at the specific capabilities that are most important to your business and see which vendors are strong in those particular capabilities.
Quite naturally, many organizations over-rate the quality of their enterprise and corporate performance management (EPM / CPM) practices and systems. In reality they lack in being comprehensive and how integrated they are.
According to Ventana Research, budgeting and planning typically eats up 10 to 15 percent of finance staff time; the process can take up five to eight months to complete in large organizations. 60% of companies still rely primarily on spreadsheets for budgeting and planning processes, despite technology advances.
While a grandiose and well-intended idea, the idea of the US joining the IASB and creating one IFRS accounting standard is dead.
HP, the world’s largest technology company, has decided to split into two companies. It reminded me that when a company embarks on a major change to its business, either through acquisition, or in this case splitting up, a strong CPM solution is vital to facilitate the discussions prior to the final decision being made.
The popular game Whack-a-mole is similar to what often happens when a company is looking for a CPM solution. That's why companies are back in the market 2 years after implementing a solution because it didn’t scale the way they expected, or it couldn’t handle new acquisitions, it couldn’t be extended to handle additional processes or it had to be completely redone to accomplish meet new analysis or reporting needs.