Updated: May 1, 2023 |
By
Jake Ballinger is Cube's content manager with 5 years experience in content, including FP&A and Finance. He holds a BA in Computer Science from Allegheny College, speaks 9 languages, and lives in NYC.
CPM, or corporate performance management, helps businesses ensure that all financial needs for optimal business operation are met. It involves financial budgeting, planning, modeling, data congregating—and more.
But instead of finance teams doing all of this manually, the most successful organizations are using CPM tools to quickly and accurately analyze, plan, and collaborate for corporate success.
What is the best corporate management software for your business? Let’s take a look.
FP&A Writer, Cube Software
Jake Ballinger is Cube's content manager with 5 years experience in content, including FP&A and Finance. He holds a BA in Computer Science from Allegheny College, speaks 9 languages, and lives in NYC.
Contents
Corporate performance management software focuses specifically on performance management applications involving finance. Obviously, the finance department owns this software.
Enterprise performance management software takes a broader approach, looking at the performance of the entire enterprise, involving everything from financials to supply chains to marketing and all departments in between.
Today, we’ll review the best CPM software on the market.
And yes, we’ve started with Cube. We’re proud of how well our platform supports corporate performance initiatives and are excited to tell you about it.
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Cube is the first spreadsheet-native FP&A platform that empowers teams to drive better planning and performance without changing how they work. Our cloud-based FP&A software platform helps finance teams work anywhere (we integrate natively with both Excel and Google Sheets) so that they can plan, analyze, and collaborate with the ultimate speed and confidence.
Many companies (like Masterworks and SmugMug) use Cube for nearly all their financial operations.
Cube offers faster time to value (most companies are finished onboarding within two weeks) and is competitively priced.
You don’t have to just take our word for it, though: check out all of our 5-star reviews on Capterra.
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Created by a former CFO, Cube is especially built to help growth companies and enterprise-level organizations. However, if you’re a startup or SMB that’s looking to scale quickly, Cube will also be a great fit.
Using artificial intelligence and machine learning technology, SAP Analytics Cloud can help team members confidently perform their tasks. Users are able to better manage their workflows, allowing them to collaborate on future business goals.
This can help improve financial outcomes, allowing smaller and larger businesses to better understand their current position and adjust for future objectives.
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SAP Analytics Cloud would work best in a business environment already standardized on other SAP products or businesses otherwise familiar with data science languages and integration. An unintuitive toolbar and limited data-prep features can make this product difficult for beginners.
As corporate performance management (CPM) and business intelligence (BI) software, Board’s Toolkit allows users to combine BI with CPM for improved efficiency.
Board Toolkit includes dashboard management, multi-dimensional analysis, ad-hoc queries, and advanced reporting so users can better plan, budget, and predict possible corporate financial outcomes.
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Board works best for small to mid-sized businesses that already have some experience with BI software. Customers have noted that web-based functionality can prevent 100% uptime and seems to cause some real-time reporting issues.
Prophix was designed to help users automate certain tedious tasks, such as allocations and report generation. Team members can draft budgets, create plans, and make more informed forecasts through its automated tools, reducing the need for repetitive tasks.
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Prophix is useful across a wide range of types of companies, with end users typically being financial analysts and accountants. It’s usually best for those that aren’t currently using many other tools since customers note that integrations can be difficult with existing products.
Accessing, researching, and analyzing data is often fraught with user errors. Through Sisense, users can help improve corporate performance through a fully-customizable analytics dashboard. They can also perform data visualization and review any anomalies in this data.
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Sisense is best for enterprise-level companies with a large amount of data and multiple user feeds.
Don't tell anybody, but did include an Enterprise Performance Management (EPM) platform on this list. Jedox can be used for financial, sales, and integrated business performance management.
Commonly used in human resources and sales industries, it employs an in-memory online analytical processing (OLAP) database. This helps improve outcomes when teams are trying to budget and forecast and when they’re consolidating data.
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Jedox would be best used by pre-revenue startups and small to mid-sized companies needing integrated business planning support.
Through a suite of subscription-based tools, Sage Intacct’s software helps manage a variety of financial considerations. Its web-based platform makes it possible for teams to better budget and plan for expenses.
Available features include accounts payable and receivable, a general ledger, improved purchasing and reporting tools, and order management dashboards.
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Sage Intacct can be best used by a wide range of companies from growing startups to public companies looking for web-based solutions for their CPM software. Since it’s an ERP tool, its functionalities are best when integrated with FP&A software like Cube.
As an international information technology (IT) company, Axiom focuses on improving efficiency and outputs, offering research and development of IT-enabled services, software consulting, and product development. Other tools include the development of middleware, data warehousing, and web-based access to certain legacy software for improved efficiency and results.
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Axiom’s software focuses on regulatory requirements and reporting. Any company with high regulatory requirements, auditing necessities, and reporting compliance can benefit from Axiom use, with compliance reports available immediately for regulatory bodies.
Budgyt is—as it sounds—budgeting software that allows users to work with improved accuracy, speed, and flexibility in today’s fast-paced world. It offers advanced budgeting and forecasting abilities, which can minimize costly errors.
With it, the common pitfalls of manual importation of spreadsheets can be reduced and even eliminated.
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Budgyt is best for small to large non-profits or businesses in the market for simple budgeting software that can be used by employees who are completely unfamiliar with budgeting software. Businesses that need additional CPM functions would be better off using another option.
The three main principles that the creators of Jirav’s software focused on were improved planning, faster planning, and collaboration when planning. Through it, users can employ driver-based budgeting models to merge data from accounting, the workforce, and their operations.
They can make better predictions and forecasts and facilitate real-time feedback and collaboration.
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Jirav is business planning software that will work well for business leaders, certified public accountants, and finance professionals at accounting firms and growth companies.
Vena Solutions imports data from existing systems, ensuring a smooth and seamless transition. Unlike other finance software, Vena has Microsoft Excel built directly into it. Vena’s CPM software allows you to use all of the Microsoft Suite software you already know.
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Vena is geared towards midsize and enterprise-level companies across a wide range of types. Powerful intelligence tools can streamline accounting services to promote efficiency and accountability.
Featuring tools for real-time reporting for more accurate financial forecasting, Mosaic Tech helps users import and consolidate their data from various sources, such as enterprise resource planning (ERP), human resources information systems (HRIS), and even billing platforms. Analysis of this data can be more precise and accurate.
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Mosaic is best for enterprise businesses. However, the tool has a known learning curve and ultimately replaces spreadsheets, so if you need models or forecasts in Excel format, Mosaic might present you with some tech headaches.
With Anaplan, employees can consolidate their work onto a single platform and work in real time with their team. This financial planning software relies on artificial intelligence, predictive algorithms, and machine learning to avoid any potential pitfalls.
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Anaplan focuses on large and fast-growing businesses, so it may not be the best choice for smaller business models. Feature-rich options can be overwhelming without a dedicated team.
Workday Adaptive Planning is designed for non-profit businesses and offers both financial planning and analytics bundled within its software.
Users can employ drag-and-drop abilities in a spreadsheet-like interface.
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Workday Adaptive Planning can be most beneficial for businesses that have to deal with a lot of change.
Planful specializes in end-to-end financial transactions, planning and analysis, and resource consolidation.
Users can speed up cycle times through improved efficiency and real-time collaboration, boosting their productivity and honing their accuracy.
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Planful works best for finance and accounting departments for companies interested in streamlining and automating reporting and tracking processes. Restrictions may exist within their learning curves.
Designed for SMBs that use Excel, Datarails offers ad-hoc reporting, asset lifecycle management, budgeting and forecasting, and drag-and-drop data imports.
Through it, users can look up error-free information at a glance.
This means they’ll be able to better estimate finances for future projects, track expenses, and streamline amortization and depreciation tallies.
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Datarails is suitable for finance teams in small or medium companies not planning to scale.
The platform focuses solely on Excel, so larger companies that utilize other data collection and manipulation (like Google Sheets) may not find this product best for them.
Read our full of Datarails review here.
Featuring a suite of services such as accounting, business intelligence, material planning, and accounts payable and receivable, Oracle Fusion Cloud ERP offers end-to-end guidance for SMBs that need corporate performance management support.
Users get real-time alerts and notifications and detailed budget and forecasting tools to help them better manage their business.
This means teams can easily handle expense management through advanced data interpretation.
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Oracle Cloud ERP is an ERP system designed for large businesses on an enterprise scale. Because of its ERP functionalities, it’s best used with FP&A software like Cube.
Through ad-hoc reporting, advanced budgeting and forecasting, a user-friendly dashboard, and predictive analysis, IBM Planning Analytics helps small and larger businesses better handle their finances.
With a customizable workspace, teams can collect data to gain clear insights, allowing them to improve business outcomes.
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IBM Planning Analytics with Watson is a useful platform for businesses of all sizes and can be scaled and tailored to fit your company's needs.
However, users unfamiliar with this type of software may find it has a difficult learning curve.
OneStream was designed for modern corporations to gain a clearer perspective into the company’s financial needs with its included data analysis, in-system reporting, and Microsoft Office Suite integration.
Because it can help with everything from bank reconciliation to cash management and even key performance indicator (KPI) tracking, overhead can be reduced and efficiency increased.
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Upper mid-market to the largest enterprise-class customer with financial planning and reporting complexities.
Setting up OneStream can be difficult and requires a professional, which may deter smaller companies or companies that don’t have a dedicated tech team.
Spreadsheets can quickly become inaccurate when corporate team members try to insert relevant data manually. Quantrix was designed to help reduce that risk.
With tools to help forecast, plan, budget, and foresee future results, this financial modeling platform allows for long-term financial planning at every project stage.
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Quantrix works well for any size business across all industries and can be tailored to the specific company's needs.
However, reviews mention that this software may be challenging to learn for inexperienced finance professionals and that little training material is provided.
Boasting a painless installation process, Hubble is both easily customizable and offers a variety of templates for the user to employ.
Team members can track relevant metrics, utilize a more efficient reporting process, and analyze how data is used, stored, accessed, and organized.
This creates a cohesive understanding of business performance for improved planning and budgeting.
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Hubble is best for companies using Oracle and JDE EBS.
Centage’s Planning Maestro is web-based financial forecasting software allowing users to make informed business decisions quickly.
With this resource, teams can experience more advanced planning and budgeting through automated and instantaneous reporting, allowing them to reach financial targets more easily.
It can be deployed both in the SaaS model and in the cloud.
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Centage is best suited for large and enterprise-level businesses that are okay with sophisticated software and higher price point.
Available as part of the Oracle Analytic Cloud, Oracle Essbase is a business analytics solution in the form of a multidimensional database management system.
This multidimensional data becomes the substrate to generate insights by the means of what-if analysis and tools for data visualization.
It's employed to build analytic applications. It can be operated via the web browser interface or Microsoft Office, more precisely through the Smart View add-in for Excel.
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Essbase is best for mid-range companies. Most users exist in the insurance sector, with the next highest being in the financial sector. Essbase may not be best for companies that have little database experience.
Sophisticated CPM software helps you easily study revenue, spending, and other ROI-related metrics.
Consolidating information helps you see how the business is performing.
Great corporate performance management software includes many key features:
Corporate performance management software should also include simple-to-setup integrations.
When considering your selections, consider your goals (finance vs. strategy), deployment type, reporting, and usability.
While there is no one-size-fits-all solution, an excellent CPM software platform should make it easier for businesses to measure their successes and align their operations for continued improvement.
Cube’s CPM capabilities translate to easier reporting and KPIs, more accurate forecasting and budgeting, faster close and consolidation cycles, and collaborative teamwork for more control and fewer mistakes
With quick time-to-value, automated data reporting, and robust integrations Cube is the best CPM solution for faster, easier, and more accurate work.
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