corporate performance management (cpm)

software for 
budgeting, forecasting and reporting

Automate processes, increase visibility and enhance your business performance through corporate performance management.

 

 

 

reconsider
the budget process

For some companies the budget process is onerous, time-consuming and, not least, based on gut feelings. Even before the budget has been drawn up it must be revised, and once it has been completed it represents the best educated guess about the year ahead, but things don’t have to be like that.

At Inspari we help our customers rethink the budget process in order to better define the future. This happens, for example, by using modern tools for reporting, budgeting and forecasting. We call it intelligent budgeting, and you can read more about it here.

 

financial dashboards 
make the budget into an active management tool

With intelligent budgeting we involve historical figures and drivers for budgeting, planning and forecasting, so as to create the best basis for describing the future. This means goodbye to a budgetary process based on gut feelings and hello to asset management based on facts. Intelligent budgeting automates the budget process, and instead of resource-intensive exercises the budget becomes a strategic tool that starts where the ERP system, replete with historical data, ends. With intelligent budgeting we thus look to both the past and the future for the optimum overview.

And you'll need a modern platform for data-driven reporting, budgeting and forecasting – a platform that can do more than Excel can offer you. Excel will of course remain part of your everyday life, but you will need a solution created for collaboration and transparency within your organisation.

five good reasons
for rethinking 
the budget process

Companies often change the budget process one step at a time. They have thus started getting the budget moving, and have therefore been able to look 3 months into the future. Subsequently, when the organisation was ready, 9 extra months were added, so it is always possible to look 12 months into the future. Regardless of the time of year.

If you think the traditional budget process is a sound tool within your business, then ask yourself whether the following statements could have come from your finance department.

  1. “We are challenged by the many spreadsheets, each with its own degree of truth, that flourish within our company”
  2. “We often find formula errors that have been passed on through several versions. It takes time to fix them”
  3. “Thomas, our formula expert, is unfortunately off sick, and the budget is thus delayed”
  4. “We spend a lot of (too much) time on consolidation”
  5. “We can’t see the results of the changes in the budget as quickly as we would like”

what are corporate 
performance management systems?

Corporate Performance Management (CPM) is systems (software) for managing various financial processes, e.g. planning, forecasting, consolidation and reporting. A CPM system provides a quick overview of how things stand, i.e. both general performance and more specific objectives both for the business and for the employees. A wide range of different performance management systems are available, all of which provide the company with a single tool for financial processes and automation of work processes.

CPM systems have many purposes and advantages, e.g.:

  1. Achieving a single common truth
  2. Making decisions based on data, not gut feelings
  3. Reinforcing insight across the company
  4. Making processes dynamic and automated
  5. Providing access to many different input providers

Whatever your business’s motivation is, we are ready to help. At Inspari we focus on the following parts of CPM: budgeting, planning, forecasting and financial consolidation. As a BI institution we already have great insight into the data, and thus advise, implement and support.

talk to us about 
intelligent budgeting

Our consultants work with companies who have the ambition of rethinking the budget process and thus making better decisions on a data-driven basis. We can thus:

  • Advise your company about a better budget process
  • Help identify the right drivers within the enterprise
  • Support the intelligent budget process with an intelligent tool
  • Provide support when you need assistance

 

find out more about 
performance management

Helene Lauritsen

Senior Performance Management Consultant 
hela@inspari.dk
+45 24 23 27 72

 

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