Over the past two years, Prophix has transitioned from being a provider of on-premise Corporate Performance Management (CPM) software to our position today whereby we offer a “choice” of either an on-premise or cloud deployment. This transition took several months because of our commitment to ensuring that in giving this choice our customers they would see the same quality and robustness of the product, irrespective of the deployment approach.
For that reason, it’s valuable to receive feedback from key industry observers that confirms the caliber of the Prophix solution. Such acknowledgment was included in the recent report from BPM Partners, a leading independent authority on business performance management (aka CPM) and related business intelligence solutions. BPM Partners established their “Next Generation Ready” certification to identify business performance management solutions that support organizational growth, both now and in the future. This past month they awarded Prophix with its certification and in doing so recognized Prophix’ CPM software as “comprehensive, collaborative and cloud-based.”
In an associated guide – Performance Management: The Next Generation – BPM Partners outline that the next generation of CPM solutions are valuable because of their ability to support initiatives that are company-wide and inclusive, and therefore integral to the execution of strategic, financial and operational plans. This notion of Integrated Financial Planning enables organizations to be “more strategically aligned, with streamlined and collaborative processes that reduce errors and deliver one version of the truth.”
Because many organizations have multiple subsidiaries, divisions, products, and locations, it’s often challenging to aggregate all of the data required for financial reporting, forecasting, and budgeting. As BPM Partners points out, “next generation CPM solutions” such as Prophix can address this problem by providing the basis for integrated financial planning, something that in turn improves their overall long-term strategic planning.
For more information on this topic and the related Prophix Certification, you can download the BPM Partners Official Guide here. Performance Management: The Next Generation Explained