Financial Technology

Financial Technology

July 06, 2012

The Significance of CPM

The demand for Corporate Performance Management (CPM) tools continues to grow - as demonstrated by the many stories relating to CPM on TMCNet. Recent stories about CPM reveal how sales in this industry have grown so that companies offering these services are expanding their offices from outside of Silicon Valley to Ponca City, Oklahoma, and how Sun Microsystems (News - Alert) recently announced a partnership with Selectica in order to satiate their clients’ demands for solutions that consolidate contracts globally. Additionally, CPM tools have taken on more roles than they have in the past, with many different branches of a corporation finding purposes that suit their objectives.

As with virtually everything relating to desktop technology, CPM has evolved alongside the development of IT tools. But regardless of the never ending innovations related to business analytics, one of the most important decisions that a business can make today is what type of CPM software will guide you through the ups and downs of the economy, according to industry experts.

In an article entitled, “Corporate performance management helps turn crisis into opportunity,” Mary Driscoll identifies CPM as the centralized force behind financial decisions typically assigned to the chief financial officer (CFO).

But after the global economic crisis of 2008, the financial planning and analysis (FP&A) team found even greater purposes for the analytic tools. Suddenly, as social media and mobility became the primary focus of business operations, CPM took its position as a tool that is incorporated with so many other analytic and predictive data tools, but as Driscoll herself predicts, “Only one thing is certain: The purveyors and practitioners of CPM will be right in the middle of it all for the foreseeable future.”

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Edited by Rachel Ramsey

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