Focused on the presentation and analysis of financial information, Corporate Performance Management (CPM) encompasses strategic planning, budgeting, forecasting, profitability analysis, reporting, modeling, and consolidation. Ideally, CPM should be driven by accurate financial data obtained from a CPM system that delivers the right numbers to the right people in a secure and timely manner.
CPM Selection Issues
Selecting a CPM solution is critical, but it can be a difficult process. IT personnel do not always understand financial processes and requirements; financial personnel can lack the knowledge required to make an informed IT decision. This can lead to conflict when it comes to selecting a CPM system. At the same time, using a manual process, or running an inferior CPM platform, makes it hard to complete financial tasks.
For instance, a manual process or a poorly designed system can make it difficult to:
- accurately consolidate data from various divisions
- retrieve required information for reporting
- model and analyze data
- present information in required formats
ThinkNet's Financial and Management Reporting Solutions
While there are similarities between businesses, no two are exactly the same. That is why companies want to implement a customized CPM solution. Working closely with clients, ThinkNet produces an integrated CPM system tailored to your company. Once a solution path is chosen, ThinkNet assembles a dedicated team with the specific skills required to implement the solution, and follows up with both training and support.
CPM Benefits and Alleviating Excel Mania
Selecting and implementing an effective CPM solution can mitigate Excel Mania—the reliance on obtaining data from spreadsheets compiled by individual managers. Spreadsheets can be useful; however, it can be difficult to secure and audit data that is pulled into spreadsheets by various managers. ThinkNet has developed a unique toolset to help organizations migrate to solutions that offer ease-of-use and flexibility, in addition to providing auditing and security controls.
Using the right CPM solution, executives can spend more time analyzing information instead of gathering information from various sources. Having an up-to-date snapshot of the company’s performance allows executives to make informed decisions, reduce costs, and boost sales.
Technology Agnostic Equals Best Practices
As a technology-agnostic professional services firm, ThinkNet has analyzed the major players in the CPM market and can recommend a CPM platform suited to your company’s unique environment. In other words, ThinkNet’s IT strategy is your best-fit IT strategy. ThinkNet is not committed to any particular IT applications or hardware platforms. Instead, ThinkNet is committed to developing, implementing, and supporting a best-practices, end-to-end, strategic IT solution based upon your particular business objectives.
More Information
To learn more about ThinkNet’s practical, enterprise-level, professional consulting and implementation services, call or email ThinkNet today:
- Click here for information on ThinkNet Financial Solutions
- Click here for information on ThinkNet IT Services