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What are the benefits and applications of corporate performance management (CPM) tools? (Webinar Attendee Question)

What is the primary application of a CPM tool? Is it being used as a consolidation/variance tool or a dynamic tool using multiple metrics to evaluate the business?

This question was asked by an attendee during the Proformative webinar "Planning and Forecasting Best Practices" held on March 7, 2013. Join the discussion and add your insights below.


Dallas Moody
Title: Director
Company: Carlson Management Consulting
(Director, Carlson Management Consulting) |

The primary application we see in most of our clients is someone who is unhappy or beleagured with either Excel based reporting or new leadership that is coming in and wants to implement a different tool than the company may currently be using. In the initial stages, we find that most of our clients are focused on using the tool more for pure reporting/variance analysis against budget/forecast along with developing a process for incorporation of actuals and rolling forecasting. Subsequent to these initial stages, we find that most companies want to do more with the tool whether it be delivering dashboards and key metrics to management users or actually empowering these users to start giving direct input into the tool without as heavy of involvement from the finance teams.

Many companies choose to initially implement the tools first for P&L reporting/forecasting and then move into other financial statements (i.e. CF, BS) and generating key metrics/dashboards for upper management.

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