"I don't want financial planning people spending their time importing and exporting and manipulating data. I want them to focus on what is the data telling us."
- Mark Garrett, CFO, Adobe
Put simply, it is the process of leveraging modeling, planning, reporting, and analytical tools to improve a company. It is tapping into previously underutilized insights to make smarter business decisions.
Too often business leaders are ﬂying blind, making decisions using a limited scope of unorganized or outdated information, and relying on manual tools like Microsoft Excel. Unfortunately, it is easy to not focus on the missed opportunities and get stuck with old habits—the old “ignorance is bliss” trap. Some opportunities that come with BI and CPM tools are:
Your company could be a candidate for BI/CPM tools if any of the following conditions apply:
What is Does: Full-featured CPM with reporting, budgeting, and dashboards that connect the dots of your diverse data sources
Who it Best Helps: Affordable pricing for small-to-midsized enterprises but CPM capabiltiies can scale for enterprises
What is Does: Financial, management, and multi-entity reporting, and close management
Who it Best Helps: Small-to-midsized enterprises looking for more controlled financial reporting
What is Does: Leading CPM with forecasting, budgeting and planning, reporting, analytics, and enhanced automation
Who it Best Helps: Larger enterprises with complex financial and planning needs
What is Does: Data visualization with drill down capability
Who it Best Helps: Microsoft Office 365 users and small businesses looking for quick reporting and a simple dashboard solution