Businesses split on using corporate performance management software
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A total of 44% of the survey respondents reported that their organizations had deployed, were implementing or planned to install corporate performance management (CPM) software. But more than half said that their companies had no plans to deploy enterprise performance management software or other CPM tools in the foreseeable future.
And indeed, industry analysts say that adoption of CPM software remains relatively low, despite the technology’s potential financial planning and management benefits. Excel spreadsheets are still the king of forecasting, budgeting and planning at most companies, according to Robert Kugel, research director for financial performance management at Ventana Research. Kugel said that cost considerations and an ingrained spreadsheet culture are standing in the way of wider CPM adoption. However, he noted that relying on Excel and email for budgeting and planning has various downsides. In addition, the available choices in the CPM market are increasing, giving more options to companies looking for the right financial performance management software to meet their business needs.
Corporate performance management software resources: