Corporate Performance Management

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It is impossible for companies to properly collect and analyze data before the 20th century. In 1970, a decision support system was introduced in the business. decision support systems can analyze a single department at a time. In 1980, the executive information system was introduced. Executive information systems can effectively summarizes ongoing transactions within an organization. In 1990, business intelligence improved with the introduction of computer technology. Customer relationship management also increased. Advanced management techniques combined with new technology to improve planning, reporting and analysis in business. This new development led to an integrated methodology known as corporate performance management. Company business management in a holistic approach to strategic planning.

The concept of corporate performance management was introduced in 2001 by Gartner research. performance management (CPM), also known as business performance management. This explains the processes, methodologies, metrics and systems needed to manage organizational performance. The main characteristics of corporate performance management, including full integration, automate data processing, supports collaboration, analytical insight and focus on exceptions.

Three levels of corporate performance management is a client, application and data levels. Important steps in corporate performance management is strategic planning, scorecarding, budgeting, forecasting, consolidation and business intelligence.

While strategic planning is a basic requirement of any business, the goal is to assess the performance scorecarding associated with strategic planning. Corporate performance management using metrics to assess the current state of business. Metric related data consistently and correctly. Corporate performance management to accelerate the process of budgeting and forecasting, improve accuracy and provide auditable budget. Forecasting capabilities help businesses to take appropriate action in accordance with the occasion. Consolidation is an important component of the CPM. Finance depends on the consolidation process. Business intelligence refers to transform data into information. This information is used in decision making.