Corporate Performance Management
Corporate Performance Management (CPM), also commonly referred to as enterprise performance management (EPM) or business performance management (BPM), is a business methodology that promotes the ongoing tracking and measurement of the performance of an entire organization as a whole (as opposed to a specific department or business unit, or even an individual employee). Critical metrics and key performance indicators (KPIs), such as revenues, profits, cash flow, customer retention, or employee turnover, are often measured as part of a corporate performance management strategy.
Companies seeking to implement a corporate performance management program have many techniques to choose from. Six Sigma, Balanced Scorecard, Just-In-Time (JIT), Total Quality Management (TQM), ISO, and Activity Based Costing (ABC) are among the many types of approaches to corporate performance management. These methodologies are all designed to foster a continuous cycle: defining/refining a strategy, linking it to specific tasks, and measuring results, all aimed at driving higher levels of productivity and profitability.
Corporate performance management strategies have been proven to deliver substantial advantages. CPM enhances communication, collaboration, and alignment among all levels of an organization, bringing together staff members at the executive, management, and operational levels in support of common goals. Corporate performance management also boosts productivity, reduces overhead expenses, increases flexibility and responsiveness to dynamic market conditions, enhances risk management, and facilitates improved adherence to regulatory guidelines.
But not all corporate performance management strategies are successful. Surprisingly, many CPM initiatives fail to deliver the desired results. This is primarily because strategies and priorities are not properly communicated beyond the executive level, which leads to poor organizational alignment. Additionally, there is often a lack of accountability, as stakeholders simply don't understand how they will be expected to help reach certain goals. Furthermore, operational employees lack the ability to track their progress towards achievement of their objectives. That's where a comprehensive CPM solution can help.
Information Builders WebFOCUS Performance Management Framework (PMF) is a comprehensive, flexible, and secure solution designed to help companies create and implement successful performance management strategies. WebFOCUS PMF is robust and feature-rich, offering a wide array of capabilities to drive any CPM initiative forward from inception to execution. For example, unparalleled data access provides the broadest possible view of business performance, while integrated business intelligence and business analytics functionality, delivered through an intuitive interface, ensures that everyone is able to take part in the enhancement of company-wide performance. PMF is also highly scalable, and can be rolled out to thousands, or even tens of thousands of users.