In this article, we’ll discuss the top 5 trends in corporate performance management in 2017, with a focus on features and functionalities as the marketplace continues to evolve.
Here we are at the beginning of the year again, and it’s time to get into the work of realizing our goals. All over the internet, there seems to be a not-quite-but-close-to consensus that 2016 was a terrible year, perhaps more in terms of pop culture, a viral social media idea. No matter your perception of how the business realm fared last year, 2017 is a chance to do better, to upgrade work processes for better outcomes because of collaboration. As a toast to that, this article will explore the trends you can anticipate for Business Intelligence (BI) and Corporate Performance Management (CPM).
I’m sure this won’t come as a surprise to anyone reading this: cloud will continue to reign as the current and future king of BI/CPM. The CPM space continues to see cloud technologies growing in popularity. More CPM third party vendors will make the leap to true, multi-tenant public cloud platforms not just because it is popular with consumers, but also because it is a good move for corporations – from the business end user to the executive team. Big picture: it works in the customer’s favor because there weren’t many options hitherto. Competition between more vendors will deliver better products and lower prices.
Additionally, as both ERP and CPM vendors ascend to the cloud, your processes will improve, particularly when it comes to consolidating all of your data from disparate sources. Thanks to this shift in solution management technology, independent software vendors (ISVs) will be crafting new and powerful application program interfaces (APIs) to simplify integration configuration. Dynamic, robust integrations are important to moving your information from ERP systems and other data sources into your CPM tools, which will save you time and money in addition to reducing the risks involved with bad, manual integrations. In general, an increasing number of folks are moving from either weak, built-in ERP reporting and budgeting features and/or manual spreadsheet models to modern CPM tools for a best-in-breed toolbox. This shift means automated processes, which will save you time and resources, while delivering richer insight.
Let’s zoom out – as people make the move to web-based CPM, there’s a natural trend of self-service analytics expansion for teamwork across the organization. The internet as an end-user platform makes analyses more accessible, so organizations have the ability to expand their user base of reporting and dashboards to more and more of their information workers – not only due to accessibility, but also because of the growing perspective that better data in the hands of more staff results in quicker, smarter decision-making. Because CPM usage is expanding, more vendors are adding functionality for advanced report viewing, analysis with commentary, and report alerts. The cost of end user licensing will also go down, so more users get involved without breaking the bank.
To read more about the top 5 CPM/BI trends for 2017,