Should the choice of CPM solution be driven by the organization’s planning, budgeting and planning needs or should regulation and consolidation complexity take precedence? This white paper explores why regulation and consolidation complexity should be of chief importance when selecting a CPM solution.
For more than a decade the scope of external reporting has been under constant strain from a swathe of new accounting standards and regulatory requirements which are in addition to local statutory reporting. External reporting has moved beyond the production of pure historical financial statements into a broader commentary on business strategy, current performance, trends, factors and risks likely to affect future outcomes.
In today’s volatile and uncertain markets, management needs to have its ‘finger on the pulse’ and this means merging actual data with, for example, budgeting, planning, forecasting, dash-boarding and score-carding applications in a body of applications which has become known as CPM (Corporate Performance Management). But by definition, a complete CPM environment has many ‘moving parts’ and this presents a dilemma for forward-looking CFOs seeking to automate and standardize their CPM systems.