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What to look for while selecting a CPM solution

With so many CPM solutions in the marketplace showcasing similar capabilities, choosing one can be a daunting task.

There are ten key areas for consideration when evaluating what solution fits your organization.

1. Data Model

  • The data model is the foundation of your CPM system. It stores all information in a centralized location (can be cloud-based or on premise).
  • Ability to create more than one data model with multiple data sets.
  • Shared dimensions
  • Ability to attach unstructured data
  • Calculation capabilities
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Are You Ready For the Cloud?

Professional services firms, small or large, are always looking to improve their operations. In recent times, Cloud computing has re-defined how firms manage their corporate solutions.  Not only is the Cloud gaining more acceptance, it is reducing IT costs and increasing productivity of firms. Cloud computing has been on the rise with now 82% of enterprises (up from 74% in 2014) having a hybrid cloud strategy. While still a relatively new concept, if you are using systems such as Salesforce, Office 365 or a multitude of Google products (e.g. Google Docs) means you’re already in the cloud! What is the Cloud? [...]

From Start-up to Maturity: The Evolution of your Subscription-Based Business

Start-up businesses don’t remain start-ups forever, especially in the subscription economy where growth expectations of 50% or more per year are common. As your business grows, you will need to revise your plans and goals to ensure that you are accomplishing your core strategy. Typically the main shift occurs when you begin to establish your customer base and the need to engage with these clients becomes much broader than just signing a contract or setting them up on your service. We typically see three clear transition periods in the business that the leadership team must manage to drive growth. These transitions [...]

Blog Post: Are You Ready For the Cloud?

Professional services firms, small or large, are always looking to improve their operations. In recent times, Cloud computing has re-defined how firms manage their corporate solutions.  Not only is the Cloud gaining more acceptance, it is reducing IT costs and increasing productivity of firms. Cloud computing has been on the rise with now 82% of enterprises (up from 74% in 2014) having a hybrid cloud strategy. While still a relatively new concept, if you are using systems such as Salesforce, Office 365 or a multitude of Google products (e.g. Google Docs) means you’re already in the cloud! What is the Cloud? [...]

Top 3 reasons why you should measure Employee Profitability and Profitability by Case

In today’s rapid changing market, the greatest asset of successful firms is the strength of its talented workforce.  Employees must be motivated, trained, retained, and effectively managed to ensure they help your firm increase its profitability.  Many times, firms only measure the profitably per partner as a key performance indicator of profitability.  However, there is a growing trend in the market to measure employee profitability.  The more profitability your employees are, the more profitable their office will be, and in return, the more profitable the partners will be as well. Another key metric is measuring the profitability by client.  Not all [...]

An Organization’s Secret Weapon: CPM and KPI Analysis

A Key Performance Indicator (KPI) is a quantifiable measurement for gauging business success. You need to focus on the issues and fires burning today-not tomorrow, so the most important consideration is to improve strategies that deliver optimum results. A company must establish its strategic and operational goals and then choose the KPIs that best reflect these goals. One of the most important questions that should be asked is: What exactly does the company do? Each industry is different, but there are quantitative and qualitative factors that can influence a company’s KPIs. The most important factor is the quantitative analysis, which involves [...]

Migrating from Cognos FSR to CDM

IBM Cognos Disclosure Management (CDM) is essentially an upgrade to IBM Cognos Financial Statement Reporting (FSR). Built using the same logic, the IBM Product Team gathered FSR end user feedback to produce the next major version of the product, and CDM was the result. With an updated architecture, significantly improved performance, an Office 2010 look and feel, and several other enhancements, CDM takes FSR to the next level of Disclosure Management and Financial Statement Reporting. Now that CDM is more than 1 year removed from its initial (November 2012) release, it’s important that all organizations using FSR start making their plans to [...]

Introducing IBM Cognos TM1 10.2

IBM Cognos TM1 has further enhanced its features for an improved user experience with its latest release, TM1 10.2. Some of the existing functionality that current TM1 users are familiar with includes: Powerful planning and analysis with a 64-bit, in memory OLAP server capable of consolidating huge volumes of data Enterprise level planning and analysis capable of supporting concurrent read / write activity of up to 10,000 named users 'On The Fly' scenario planning using built-in sandboxes Guided modeling environment to empower business users Multiple online and offline interfaces, including Excel Integrates with IBM Cognos Disclosure Management (CDM), Business Intelligence (BI) [...]

How to Build Effective Dashboards

The purpose of dashboards and scorecards is to provide key stakeholders with a high-level overview of their organization’s performance based on various metrics or KPI’s; however, different users within some organizations request different types of data to be displayed, which eventually leads to the dashboard being difficult to read and filled with non-critical data. When this occurs, the dashboard becomes irrelevant to the end user. This post will explore best practices that should be followed to create useful and informative dashboards. Know your Audience: It is important to consider who the dashboard is being designed for. The most successful dashboards target [...]

Best Practices for Budgeting and Planning

The rapidly changing business environment constantly challenges companies urging them to look for more effective business practices. What are the main factors and limitations needed to be taken into consideration for a successful budgeting and planning processes? For an effective planning and budgeting process, the following should be properly determined: Budget process definition The right software solution The correct input level KPI definition Efficiency Change monitoring Clear definition of a budget process Ensure that your process is in line with corporate objectives: For instance, if your corporate objective is to sell more units, then your budget should take into account all [...]