Utilized by analysts such as Gartner, Financial Performance Management (FPM) is terminology used to define software solutions that focus on supporting accounting processes in the finance office. Solutions in this area are used to handle financial processes such as management reporting, analysis, and disclosure.
Traditionally, FPM has been relied on to determine the overall health of an organization. Unfortunately, an accurate read of an organization cannot be done solely from a P&L. Viewing past performance alone is not only unreliable, but myopic in today’s highly competitive and ever-changing market landscape.
Organizations that are advancing in today’s economy are mastering business performance management by way of modern solutions. What’s the future of business performance management entail? A holistic approach, seamless system integration with core data systems and superior ease of use. Revolutionary? Absolutely. Impossible? Absolutely not.