CPM is an umbrella term that describes the methodologies, metrics, processes and systems used to monitor and manage an enterprise's business performance (L. Geishecker and F. Buytendijk – Gartner, "Introducing the CPM Suites Magic Quadrant" Oct 2002).
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- Corporate management should:
- Be aware of all corporate operations
- Choose the direction the company takes
- Allocate the proper resources to achieve its targets
- Oversee the company’s objectives and steer it in the right direction
- To do so, managers need:
- Rapid interactive reporting
- To be able to analyse the consequences of their decisions
- Tools for costs planning and management
- Financial Consolidation – Financial consolidation is a process which results in an aggregate of financial information for investors and financial institutions, leading to enhanced strategic and operative management of a group allowing financial consolidation of the group to be seen as a whole.
- Dashboards – Executive dashboards or management cockpits fall into the category of strategic management. In their most basic versions they permit a manager to follow key performance indicators on a single screen. In more sophisticated systems, they display the actual and projected performance of all entities, from the level of individual employees via an interconnected hierarchy of goals to strategic indicators for the whole company.
- Planning – Planning is a significant concern of vast majority of companies. Most companies use Excel to do their planning whereas relatively few companies exploit the advantages of planning tools which support workflow, the release of items, what-if analyses, sliding budgets, planning in different dimensions, with each and every aspect interconnected to management reporting and KPIs.