Corporate Performance Management Software
ScienceSoft applies its 33-year experience in software development to design and implement corporate performance management solutions and help companies maximize their business performance.
A corporate performance management solution consolidates multiple types of business information (financial, operational, sales, etc.) across departments to help a company define its operational and strategic goals, measure business performance against them, carry out performance planning and forecasting.
An ERP system, accounting software, CRM, a data management platform, etc.
Financial analysts and controllers
- Tracking and measuring financial performance.
- Comparing budgets with actual expenses and revenues and finding discrepancies between them at all levels (company, department, etc.).
- Forecasting revenues and expenses.
- Tracking performance of their department against specific metrics to reach set goals.
- Identifying how the performance of their department influences the efficiency of other departments.
- Operational planning and budgeting for future expenses.
- Identifying opportunities to reduce operational costs, improve the operational efficiency of the department, etc.
- Strategic corporate planning.
- Overseeing the business performance at the company or department level.
- Drilling down to find root causes of poor corporate performance.
- Financial risk tracking and mitigation.
Based on the experience in designing and implementing corporate performance management solutions, ScienceSoft distills their core functionality:
- Ingesting corporate data from diverse systems across the company (ERP, CRM, accounting, SCM software, etc.) and multiple business entities (company’s branches, subsidiaries, etc.).
- Consolidating granular data (finance, sales, marketing, operations, HR, etc.) to support performance measurement and analysis at all levels of the company.
- Built-in capabilities for data cleaning and transformation (identifying and removing invalid data, deduplicating redundant data, data standardization and harmonization, etc.) to ensure its consistency and correctness.
- Support for real-time data ingestion for the timely delivery of the business data, automated refresh of plans, budgets, forecasts, etc.
- Setting up and reviewing goals (revenue, profit, sales quotas, etc.) for all departments.
- Customizable templates for different types of plans and budgets (revenue, expense, workforce, sales, supply, etc.).
- Generating and updating operational plans (cutting customer acquisition costs, decreasing inventory levels, reducing production waste, etc.) for particular departments.
- Generating and updating corporate strategic plans (e.g., mergers and acquisitions, capital investments, restructuring).
- Support for multi-user collaboration to enable budget consolidation and planning consistency across the company.
- Running what-if scenarios to model changes in the business environment and potential outcomes of business strategies.
- Financial modeling capabilities:
- Pre-built industry-standard ML models to generate predictions about a company’s financial performance.
- What-if scenario modeling to develop financial contingency plans.
- Pre-written KPIs for monitoring and measuring the performance of the whole company and particular departments:
- Finance (operating and net profit margin, gross margin, sales growth, accounts receivable turnover, etc.)
- Marketing and sales (customer acquisition, customer attrition, customer profitability by segments, cost per lead, etc.)
- Manufacturing (OEE, capacity utilization, production volume, cycle time ratio, etc.)
- Human resources (employee turnover, employee performance, employee satisfaction, etc.)
- Customizable balanced scorecards templates for monitoring strategic goals and measuring the performance of a company/subsidiary/department against these goals (e.g., tracking the corporate strategy progress by measuring how sales KPIs are met).
- Configurable KPI dashboards for monitoring the operational performance in (near) real time.
- Driver analysis by service, product line, region, team, etc.
- Performance gaps analysis to compare the actual performance against the planned one and define deviations across the company and each particular department.
- Performance root cause analysis to define the reasons for lower-than-planned performance.
- Value creation analysis and benchmarking.
- Enterprise value decomposition and multiples calculation.
- Economic profit decomposition calculation, etc.
- Support for financial reporting (balance sheet, income statement, cash flow statement, etc.).
- Support for managerial reporting (profit and loss by class, realization rate, capacity utilization rate, labor turnover, etc.).
- Customizable report templates.
- Automated generation and distribution of role-based reports on a daily, monthly, quarterly, or any other basis.
- Ad hoc reporting.
- Publishing and sharing board reports.
To enable automated data flow for accelerated and smooth-running corporate performance planning, assessment, analysis, and forecasting, ScienceSoft recommends integrating CPM software with the following enterprise systems directly or via a data management platform, which serves as a staging area for data ingestion and management:
Enterprise resource planning system
- Analyzing, carrying out strategic, financial and operational planning, forecasting, and optimizing operations managed by ERP.
- Monitoring the adherence of the actual operational performance to forecasts and operational plans.
- Monitoring and measuring the profitability of the company.
- Identifying cash flow drivers.
- Optimizing financial plans and budgets to align with corporate objectives.
Customer relationship management software
- Setting up sales goals and plans.
- Tracking and assessing sales performance against set objectives.
- Driver-based revenue and sales forecasting.
Relying on 33 years in software development and 17 years in business intelligence, ScienceSoft's consultants have defined key factors that should be covered to ensure successful adoption of CPM solutions:
Advanced data management and analytics capabilities
To enable fully automated data collection and processing as well as advanced analysis of business scenarios, accurate forecasting and remodeling of business scenarios based on new or updated data.
Self-service capabilities and ease of usage
Intuitive user interface, natural language querying, self-service data analytics and reporting capabilities, etc., to ensure users can seamlessly access the required data, add their own KPIs, and perform complex data analysis without the assistance of IT teams.
To add new data sources with minimized development effort, automate and schedule data integration processes.
Advanced data security
Dynamic data masking and end-to-end encryption, granular access control, vulnerability scanning and patching, etc., to control access to business data and minimize the risk of improper data usage.
Established data governance policies and standards and automated data management activities (e.g., integration, transformation) to ensure data timeliness, consistency, accuracy, liquidity, etc.
The cost of custom corporate performance management software varies greatly depending on:
- The number and complexity of a solution’s functional modules.
- The volume of data from corporate systems to be processed and analyzed.
- The type of deployment (cloud, on-premises, hybrid).
- The type of automation (RPA or AI-powered features).
- The number and complexity of integrations (with ERP, CRM, accounting software, a BI solution, etc.).
Value of Corporate Performance Management Software
Increased corporate profitability due to increased margins, maximized returns and identification of new performance optimization opportunities.
Reduced time and effort for corporate performance planning due to the elimination of manual planning tasks.
Enhanced risk management due to timely delivered accurate financial forecasts and financial contingency plans.
Up to 11% greater accuracy of financial reports due to accuracy and comprehensiveness of input data.
Improved productivity of solution users (financial analysts, department managers, executives) due to the ability to create analytics reports and dashboards in a self-service mode.
Oracle Cloud Enterprise Performance Management
International businesses and enterprises with multiple subsidiaries.
- Broad planning capabilities (long-term strategic planning, financial and operational planning features).
- Consistency of plans, budgets and forecasts with a single enterprise view.
- ML-based predictive planning and forecasting.
- What-if analysis to model financial and operational scenarios.
- Narrative reporting and financial reporting.
- Ad hoc analytics capabilities.
- Comprehensive security features (role-based security, multiple access permission levels, report-level access control, table- and field-level access control, etc.)
- EPM Standard – $250/user/month.
- EPM Enterprise - $500/user/month.
SAP Analytics Cloud
Accelerated performance analysis and forecasting with built-in AI and ML.
- ML and predictive analytics capabilities for automated planning, budgeting, forecasting, reporting, etc.
- A sandbox planning environment for what-if scenario modeling.
- Built-in collaboration features to leverage multi-department collaboration to achieve consistency in planning decisions.
- Pre-built report templates and dashboards for finance, sales, human resources and supply chain departments.
- Seamless integration with SAP S/4HANA.
- Intuitive UI and native language querying functionality.
- A free 30-day trial.
- SAP Business Intelligence – $17-$36/user/month (the price is in reverse ratio to the number of users).
- SAP Planning – pricing is upon the direct request to the vendor.
IBM Planning Analytics with Watson
Hybrid CPM solutions.
- Multidimensional analysis to assess the impact of business initiatives and market events on the most profitable products, customers, sales channels, etc.
- Advanced sandboxing capabilities for unlimited what-if scenario modeling.
- Excel interface for easy adoption.
- Built-in self-service analysis and reporting capabilities.
- Predictive forecasting capabilities.
- Real-time data access and an in-memory database.
- A free 30-day trial.
- On Demand plan (2-4 GB RAM, flat file data integration) – from $45/user/month.
- Enterprise plan (an Excel interface, 64GB-4TB RAM, vast integration capabilities) – pricing is upon the direct request to the vendor.
ScienceSoft recommends implementing custom CPM software in the following cases:
You need a solution that allows easy functionality extension when needed due to modular multi-tier architecture.
You need corporate performance management software providing specific features, for example, industry-specific financial plans and budget templates, automated contiguity plan generation, etc.
You need cost-efficient and smooth CPM integration with your existing data source systems (ERP, accounting software, supply chain management software, etc.), third-party systems, open-source data sources, etc.
You need a CPM solution that provides compliance with specific regulations in the regions your company operates.
With 33-year expertise in software development, ScienceSoft helps companies design and implement cost-efficient corporate performance management solutions tailored to their business needs.
CPM software consulting
- Corporate performance management needs analysis.
- CPM solution conceptualization.
- CPM solution architecture design and tech stack selection.
- CPM solution implementation planning (project risk management planning, defining KPIs for measuring CPM software quality, etc.).
- Business case creation including cost estimation, time budget estimates.
CPM solution implementation
- Corporate performance management needs analysis and elicitation of CPM software requirements.
- CPM solution conceptualization.
- CPM solution architecture design and tech stack selection.
- CPM solution development.
- CPM software integration with relevant corporate solutions (ERP, accounting software, HR, etc.).
- CPM software quality assurance.
- After-launch support and optimization.
ScienceSoft is an IT consulting and software development company headquartered in McKinney, Texas. With 33-year experience in software development services, we design and build tailored CPM solutions to help companies plan, forecast, and optimize their business performance. Being ISO 9001 and ISO 27001 certified, ScienceSoft relies on a mature quality management system and guarantees that cooperation with us does not pose any risks to our customers’ data security.