The rise of Financial Performance Management solutions is turning the industry standard over on its head. For far too long, companies have lived with inflexible business systems, and are tired by the complexity of their processes, paralyzed productivity and missing personal or corporate goals because their data wasn’t accurate, relevant or timely.
FPM came about in regards to high levels of user and business-wide frustration. It fixes the core issues that most companies struggle with when it comes to business information in a few key areas.
- Improved technology
FPM can handle high volumes of transactional data at extraordinary speeds. This is especially important for companies as the amount of data they have grows exponentially and they are looking to make sense of the massive amount of information they are collecting.
- Empowering more users
Processes that rely on bottlenecks or technical expertise are become unsustainable in this modern world. People want to see relevant information right when it’s needed. FPM enables business users to manage reporting, planning and analytics on their own. When these end-users have access to data at their fingertips in real-time, they can answer their own ad-hoc questions, input their own data securely and see their own business and personal analytics.
- Driving a high performance organization
Inflexible business systems wreak havoc across the organization beyond just stale data. When users are forced to resort to spreadsheets to understand, manage and predict their business, confidence in data slips massively, and processes become a nightmare. FPM solutions understand that you simply cannot drive high performance in spreadsheets. FPM seeks to change the status quo in organizations by fixing the core issues that created chaotic processes in the first place.
- Innovative KPIs
By aggregating transactional data faster, individuals and departments will find it increasingly easy to track and manage major key performance indicators. By empowering the whole business to see and manage this type of information, it will begin to drive high performance at optimal levels.
What does it mean to build something with a mobile-first design? It means that not only does it work well on smartphones and tablets (so business users can access reports, budgets and analytics on the go), but it’s also been designed to make it easier for users to consume information as it’s built to cut through the clutter and empower people.
We live and breathe FPM here, and would love to know your thoughts about the future of FPM. For more information on the power of FPM and how it can help drive performance throughout the whole business, download this Ebook!