Organizations today face similar challenges enhance price performance, increase customer satisfaction and retention, and improve productivity and efficiency, while streamlining business processes and driving bottom-line growth a tall order, indeed! Rather than slow down to examine every nook and cranny of the business through a microscope, progressive organizations are taking a more holistic approach by focusing on execution from top to bottom, with clearly defined goals, strategies and metrics. Corporate performance management (CPM) is a process that aligns goals, metrics, people and technology in order to improve performance across the entire organization. Let's examine some of the key benefits that can be achieved through CPM implementation from both the business and technology perspectives, and how digital dashboards produce a view into measuring and monitoring action and results.
Goal alignment replaces fragmented, discontiguous top-down planning with a seamless, collaborative planning process that closes the loop between business strategies, business measures such as key performance indicators (KPIs) and business actions. The CPM dashboard illustrates how alignment of an organization's resources people, information, decision-making process and IT technologies ensures individual performance targets can be proactively measured and tracked to meet value expectations of multiple stakeholders (shareholders, employees, business partners and regulatory agencies).
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