Corporate Performance Management (also known as Business or Enterprise Performance Management) is the marrying of methodologies, business processes and application software covering Business Modelling, Budgeting, Forecasting, Reporting & Analysis and Consolidations with comprehensive analytics including dashboards and scorecards across the organisation. The aim is to enable clear visibility for managers at all levels to make better decisions on a continuing basis.
More consistency in management and Board decisions ensures that business performance is continuously improved, risk is managed and business compliance is effortlessly established and maintained throughout the organisation.
The key components involved are:
A single version of the truth, drawing on the past to deliver the future
Budgeting, Forecasting and Long Range Planning on a continuous basis, based on an accurate, in depth, corporate business model
Flexible, timely reporting on all aspects of performance, comparing actual outcomes to plan, closing the plan, act, feedback loop, and providing the basis for rapid, responsive decision making.
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