The environment of corporate performance management (CPM) or enterprise performance management (EPM), like all things that evolve over time, has seen numerous significant shifts.
Newer CPM providers have grown in response to rising market demand for Finance Transformation solutions, as well as continued industry expansion and an expanding number of organizations recognizing the need for such solutions. Indeed, vendors today have several areas of emphasis outside of CPM, and their CPM operations are likely to be shrinking, given CPM only accounts for a small portion of their overall revenues.
To drive higher revenue and capture more of those larger agreements, legacy suppliers are naturally pushing to shift emphasis and attention to comprehensive enterprise resource planning (ERP), human capital management (HCM), customer experience, and/or supply chain prospects. However, there is an issue with it. This method can sometimes dilute the value of CPM, which is not desirable.
Finance Transformation is diluted by a lack of emphasis on CPM
Finance Transformation is being diluted. What has happened is that the distinctions between ERPand CPM enterprises have blurred as a result of reallocating capital away from meaningful innovation. Instead, the focus has been on harmonizing the appearance and feel of the ERP and CPM solutions, giving the impression that they are one and the same, ifnot interchangeable.
ERP is now commonly referred to as a type of business management software –and frequently a set of interconnected applications –that a company may use to gather, store, manage, and understand data from a variety of business operations.
CPM software delivers the agility and visibility that every organization that wants to successfully manage the challenges of growth and change needs. Organizations may update or replace core ERP/GL systems with an effective management layer in place. And it may be done throughout the transition time without disturbing important management operations like planning and reporting.
CPM systems, in essence, monitor performance across the company with a single purpose in mind: to improve company performance. A CPM system combines and analyzes data from a variety of sources, including front-office, e-commerce, back-office, data warehouses, and external data sources.
OneStream joined the CPM industry with the goal of providing a unique solution to the fragmentedCPM systems bought and developed by mega-vendors. To provide something better -a single unified platform that centralizes all critical CPM operations and metrics.
The OneStream platform’s power propels businesses to a whole new level of CPM, allowing them to move away from merely seeing key data and ratios at the end of the month and instead receive weekly or even daily indications. As an outcome, action may be taken at the organization’s pace.OneStream gives its clients the ability to “lead at speed.”
Multiple integrations down to source systems to feed each CPM process are not required with OneStream. Instead, the user-friendly procedure guarantees that data from ERPs is imported just once and is immediately available in any operation that requires it, such as planning and financial consolidation.