MGI Solutions
 Common Questions & Answers About CPM
MGI’S CPM Solutions answers up to all of the following questions:
The two are closely related. Management scorecard systems, often tied to methodologies like the Balanced Scorecard or Six Sigma, are used by managers at every level of a business to see how well operations are performing against financial, quality, customer service and other goals. Like balance scorecard, CPM shouldn't restrict you to a single type of analysis. Instead, you ought to be able to mix and match popular measures and methodologies, such as Activity-Based Costing or Economic Value Add or Balanced Scorecard.
It has many similarities. Different vendors and research firms have latched onto slightly different labels for the same thing. Some also call it "Business Performance Management." It is also similar to ERP “ Enterprise Resource Planning” and BI “ Business Intelligence. CPM brings all of these acronyms under one umbrella, unifying, integrating and consolidating each approach.
Balance Scorecard reporting systems often only loosely connect to the systems and processes used to generate budgets and targets. As a result, the metrics targeted in a plan may not match the ones used to judge whether the plan was successful. CPM is supposed to change that by ensuring that the metrics from an initial plan flow smoothly into systems for monitoring progress and for analyzing the results. Some businesses are using this sort of technology to move away from annual plans to ones that they can continually revise based on the latest data.
Look out for these issues, says Gartner:
"Data agnosticism: Being able to accept data from any source is key, because few companies have all their performance information coming from one system. If you need to extract data from a variety of unrelated systems, then a product from a business-intelligence vendor or a CPM specialist may be a good choice.
Integration: A CPM suite should provide integration within itself and your operating systems. Just because the pieces are bundled doesn't mean they work together.
Bonus features: A comprehensive solution will provide the collaboration and workflow features necessary for managers to take such actions as submitting a revised plan for approval."
The Balance Scorecard provide "at-a-glance" information about business performance across the enterprise. Scorecards are typically generated for managers and executives who need an overall view of business performance and find tremendous value in viewing timely, visually intuitive snapshots of strategic financial and operational data.
MGI Scorecard module is a management style, visual reporting tool. The intent of such a tool is to provide quick indication of key results important to various users within an organization. The layout provides easy navigation, icons and graphics to indicate good/bad/neutral comparisons, as well as visual indicators.
Q: What are the objectives of a CPM Solution?
• Monitor activities to bring planning, budgeting and forecasting under one umbrella and into alignment with the overall corporate strategy.
• Faster, more accurate and improved planning, budgeting and forecasting
• Faster and more transparent consolidation
• Faster and improved financial reporting
• Process automation
• Decrease errors
• Focus more on value adding activities
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