How Does New Technology Influence Corporate Performance Management?

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How Does New Technology Influence Corporate Performance Management?

Sarah Dawson, CFO Tech Outlook | Tuesday, November 24, 2020

CPM enables to better leverage all data in the organization’s ecosystem, help them reach its strategic objectives in change management, and redefine KPIs to optimize performance.

FREMONT, CA: Corporate Performance Management’s (CPM) appearance is shifting as new technologies, explicitly in the scope of Artificial Intelligence (AI) and advanced data analytics to mine previously untouched corporate data and take future-oriented decisions. Decisions involving meet rising demands for better, more agile, and change-oriented enterprise-wide performance management approaches.

How one can move from strategy to strategic actions while forecasting, monitoring, and administering performance need more than what CPM previously has permitted.Among the causes for different approaches in CPM to drive better choices and demands of ever more productive markets include:

• Change in the scope of digital business alteration,

• The rising need for holistic,

• Real-time and future-oriented customer and business insights,

CPM also known as business performance management or enterprise performance management is not new. However, in times where operational excellence is crucial in all areas of the business (costs, customers, and others) and as enterprises are changing, there is an evolution in reality and requirements of CPM. There is also progression in technologies enabling operational excellence and change across the board in a profoundly data-driven and insights-powered way.

In the past, CPM only enabled businesses to foresee the future in a limited way and was rather reactive. With AI and the detection of patterns, statistical forecasting, the analysis of large dimensions of market intelligence (and automatic decision making), choices can move away from the chief sphere of historical data. It also enables to gain the insights that previously went unnoticed and look into the future. AI will also significantly impact performance management because it will facilitate to correlate data and create insights that were not possible before to make the best possible decision.

CPM enables to better leverage all data in the organization’s ecosystem, help them reach its strategic objectives in change management, and redefine KPIs to optimize performance. They need it where variations in the firm’s ecosystem in the broadest sense need it and strategies to be translated in decisions and actions while monitoring, forecasting, and supervising those corporate performance parameters that include correcting decisions and, indeed, automating.

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