Corporate Performance Management
Translate strategy and objectives into effective action and results
Corporate Performance Management (CPM), also called Enterprise Performance Management, is an umbrella term used to describe the methodologies and processes that help to manage an organization’s success. One of the most prominent frameworks is the Balanced Scorecard (BSC), which is a strategic planning and management system that considers several organizational perspectives (in addition to just the financial angle). Organizations are also using the EFQM Excellence Model and Six Sigma. Key Performance Indicators (KPIs) are typically used to measure the success of these frameworks in action.
There are several challenges that can be an obstacle to effective performance management. We can sum them up into just three.Writing a poorly structured strategy – companies fail to pick top priorities and determine how they will support them through goals and actions; failure to communicate strategy– it’s vitally important to communicate the strategy to staff so they know what is expected of them and how to measure success; not measuring progress – the progress made toward goals must be measured on a regular basis. Performance management is an ongoing process. Planning, communicating, measuring and adapting to changing conditions are essential parts of that ongoing cycle.
The Solution – SoftExpert CPM
SoftExpert CPM is a web-based performance management software that helps organizations to manage the strategy formulation process, translate it into practical actions and monitor performance and execution in a simple way.
The solution empowers organizations with a full set of capabilities to transform strategy into operational objectives, driving both behavior and performance, defining and collecting metrics to measure and control business performance and measure progress. Managers can track and analyze performance in real time through flexible and interactive dashboards, improving management comprehension which leads to better, faster and more relevant decisions forward to action.
With the SoftExpert solution for Corporate Performance Management, organizations are confidently and more easily provided consistent access to information with optimized performance. Companies can maximize their investments with a solution that is modular, meeting immediate business demands and challenges, yet integrated for a more complete solution, creating greater value. The solution supports management of performance deviations, strategic and operational risks, projects, action plans, financial resources and processes, as well as a wide range of best-in-class performance management models and practices, like Balanced Scorecard, Six Sigma, and others.
SoftExpert CPM leverages a controlled workflow to manage input processes, which includes due dates and task reminders, such as data entry, approvals, revisions, or adjustments. The software makes data entry simple for users, eliminating the task of gathering multiple data items or cutting and pasting data. It streamlines information flow by automatically integrating and consolidating data from different sources (external databases, Excel spreadsheets, formulas) and provides access to users anytime and anywhere.
The software offers strategy maps, analytical graphs and diagrams designed to help in understanding the cause-and-effect relationships of key processes, objectives and key performance indicators. It also provides a tool to solve performance problems and define appropriate actions for the team in charge, creating a culture of performance.
Strategy Planning - Strategy Map
Measuring and monitoring
Performance Deviation Management
Workflow MoReal time monitoring on interactive dashboards
- Minimize uncertainty and meet KPIs and objectives.
- Focus on the indicators that reflect strategy and are most critical.
- Manage quantitative data and qualitative updates in one place.
- Synchronize communication of goals, strategies and metrics across broad geographic areas and allows users to view, update, share and work on common information simultaneously.
- Minimize problems associated with reporting detailed financial and operational data from multiple applications, databases and legacy systems.
- Make faster and smarter decisions by capturing and transforming data from operational back-end legacy systems into real-time data storage.
- Integrate key management processes within a single IT platform in a closed-loop environment.
- Reduce risk with consistently-updated data, version-controlled plans, and driver-based models.
- Spend less time compiling numbers and spend more time advising business partners on the insights obtained from self-service and interactive dashboards, even on mobile devices.