Companies today manage a lot of information, spread across different applications, business units, subsidiaries, and locations. The current crisis has brought with it an uncertain and complex environment. Stakeholders demand more comprehensive and consistent information that justifies strengthening relationships to create shared value. A CPM solution can address these issues.
As a result, the need for finance departments to be efficient in analyzing and managing corporate performance is becoming more acute. The discipline of Corporate Performance Management or CPM will help them achieve this.
CPM in financial management makes it easier for the CFO to reliably verify the performance of the business and to correct it if necessary. With this approach, the entire organization participates in the strategy. Thus, the plans and budgets of different departments, divisions, and areas are aligned and corporate objectives are translated into tactical and financial plans.
The necessity of financial software for CPM success
However, the successful implementation of CPM requires financial management software to provide feedback and a communication system. This will start with measuring performance and comparing it with the strategic objectives, and then monitoring key performance indicators through dashboards.
If this information is analyzed with the power of Business Intelligence, it will help to make proactive decisions to improve results. In addition, the possibility of reviewing budgets and making simulations in real-time generates new planning and new objectives.
Using Talentia’s unified, cloud-based CPM solution
Talentia CPM solution is a platform for real-time reporting, business analysis, budgeting, forecasting, consolidation, and closing. Thanks to Talentia Finance Intelligence, it allows you to manage corporate performance and share information. But what are the advantages of using Talentia’s CPM solution?
- Consolidation. Accounting control and review: By integrating the XBRL module, the Consolidation Manager provides a package for multi-standard closing and consolidation, financial reporting, and intra-group reconciliation. Talentia also allows you to control and audit accounting processes collaboratively by defining roles and authorizations.
- Management analysis and reporting: Talentia makes it easy to generate reliable reports and monitor budgets in real-time.
- Budgets. Forecasts & Rolling Forecasts: Budgets are developed through a collaborative process with operational staff, and different scenarios can be managed. As a result, more reliable simulations are obtained.
Benefits of a unified, cloud-based CPM solution
Improved decision-making processes
Talentia provides multidimensional financial analysis, alerts, KPIs, and standard and customizable reports for informed decision-making.
Enables risk control
Therefore, the Talentia suite is designed to address emerging talent, cybersecurity, infrastructure, and operational risks such as liquidity risk.
Single database to support all processes
The solution is built around a single, secure, and shared database, accessible through a web connection.
Increases team productivity
The platform brings together the tools needed to manage financial performance, increasing team productivity. Moreover, automation and collaboration also increase that productivity.
A certified and secure solution
Talentia incorporates best practices and complies with local and international reporting standards. In addition, controls ensure the validity, consistency, and quality of the data.