By avoiding the pitfalls and choosing the right CPM software solution can help the organization streamline planning processes and maximize performance.
FREMONT, CA: Optimizing business performance is quite a bit of jargon that gets thrown around. Corporate performance management (CPM) is often used interchangeably with business performance management and enterprise performance management. However, these terms tend to encompass the collection of methods and processes tailored to maximize the performance of a business. The whole industry of software solutions has cropped up to aid companies to attain this. Here is a closer look at the common problems presented by many CPM software solutions.
CPM software is a straightforward approach to streamlining the performance management processes. But problems can come as the scope of the software platform grows. Implementing new software, especially software that covers several processes as a full-service CPM solution brings with its own unique hurdles. A common issue is that company productivity will take a hit while users go through a lengthy deployment process. And inadequate training tools and a lack of proper support from the software vendor can escalate the issue. The key to successful implementation is to have a plan and establish strong communication between vendor and project teams throughout the process.
It is one thing to get new CPM software up and running across the organization, along with which forms should convince all of the employees to actually use it. Overly complicated platforms that aren’t user-friendly can cause decrease adoption rates. Employees will abandon the CPM system in favor of their old, familiar processes. But when CPM software is easy to use, employees will embrace the solution and never look back. Customer retention is a good indication of how satisfied firms are with a CPM solution.
Although CPM software can improve key performance management processes, adapting software solutions needs can sometimes feel like a hurdle. Every organization is unique, with its own set of goals and challenges. Unfortunately, some CPM software programs try to act like one-size-fits-all solutions. Making sure that the CPM platform has built-in flexibility so users can customize outputs such as management dashboards and financial reports for the needs of the company can remediate this issue well.
