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Updated: February 27, 2024 |
By
Jake Ballinger is an experienced SEO and content manager with deep expertise in FP&A and finance topics. He 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
Corporate performance management (CPM) is a general term for the systems, processes, and metrics a business uses to assess and manage its performance.
For FP&A teams, CPM means assessing employee productivity so that they can create more accurate forecasts and optimize spending across the business.
A corporate performance management tool helps the FP&A team measure and assess a business's performance.
This includes both employee productivity and operational efficiency.
A good CPM tool helps the FP&A team organize, analyze, interpret, and present that data to make recommendations that improve the business's growth.
CPM tools are used to measure and manage corporate performance and efficiency, usually against key performance indicators (KPIs).
FP&A teams deploy CPM tools to analyze a business's profitability. They collect data to calculate metrics like EBITDA, the SaaS magic number, or the LTV/CAC ratio.
The best CPM tools do more than collect data: they also enable the FP&A team to analyze it.
Even better if the tool has financial reporting capabilities to share their findings with the rest of the business and decision-makers.
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 finance teams to plan faster, more nimbly, and more scalably without changing how they work.
Our cloud-based FP&A software helps finance teams work more effectively by collecting and centralizing data into a single source of truth.
This empowers teams to create plans and reports based on that trusted data in the spreadsheets they know and love.
Cube transforms FP&A with a spreadsheet-native platform that offers fast, flexible, and scalable financial analysis for continuous collaboration and insights.
Many companies (like Masterworks and SmugMug) use Cube for their CPM needs.
For example, Cube:
Perhaps even more importantly, Cube was founded by a former CFO. The problems and use cases of FP&A have been baked into Cube since its inception.
FP&A teams already know and love spreadsheets. Cube simplifies many of the headaches of the often challenging planning process—like collecting actuals from other departments or checking and verifying that your numbers are correct—and lets teams turn their complicated budgeting process into a lean operation.
Check out all of the 5-star reviews on Capterra.
Sounds like a fit? Book your demo with Cube today. Keep scrolling to learn more.
Users get all of the benefits of a robust FP&A tool (like scenario analysis, data consolidation, multi-currency support, dynamic user controls, robust source system integrations, and custom reporting) within Excel and Google Sheets.
Cube eliminates tedious FP&A tasks so finance teams can deploy their efforts toward higher-level objectives.
Features:
➡️ See all of our features here.
Pros:
Cons:
Pricing:
Starting at $1,250/month for lean finance teams and $2,450/month for companies looking to scale. See detailed pricing.
Best for:
Mid-size and enterprise FP&A teams looking to save time and grow. Cube also works for hyper-growth SMBs who want a solution that will scale with their organization's complexity.
Curious to see if Cube is a fit for your organization? Book your demo now.
Best for:
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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Pricing:
Best for:
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.
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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.
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Don't tell anybody, but we included 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, Jedox 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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Pricing:
Best for:
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.
Did you know?
Sage Intacct integrates with Cube. With a Cube and Intacct connector, you can grab your data that sits in Sage and analyze it in Excel, then present your findings via Google Sheets to internal or external stakeholders.
Even better: whenever your data updates in Sage Intacct, you can 1-click fetch that data via Cube into your spreadsheet. So you always have the most up-to-date data to measure corporate performance.
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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Pricing:
Best for:
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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Best for:
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.
Vena Solutions vs. Cube
Vena Solutions and Cube are similar in that they're both Excel-first CPM solutions. But we think Cube is better.
Cube works with Macs and Google Sheets, so it's inherently more collaborative. Likewise, Cube is Excel-native, whereas Vena isn't—Vena includes a lot of hidden rows and columns in your spreadsheet and models, creating spaghetti references that become difficult to unwind and understand.
In contrast, Cube is easy to use and quick to set up. In fact, we have a record of implementing Cube 5x faster than the competition.
Check it out today.
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 SaaS companies. 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.
Key Features:
Pricing:
Best for:
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.
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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 business performance software 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.
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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.
Key Features:
Pricing:
Best for:
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.
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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.
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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 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.
By leveraging CPM platforms tailored to their specific needs, businesses can drive operational excellence, achieve strategic objectives, and deliver value to stakeholders in their respective industries.
Finance and Banking: In finance and banking, CPM software is essential for managing financial performance, risk assessment, and regulatory compliance. These institutions utilize CPM platforms for budgeting, forecasting, and financial reporting, ensuring precise analysis of revenue streams, expenditure, and profitability.
Retail and E-commerce: Retailers and e-commerce companies use business performance software to boost sales, optimize inventory, and enhance customer satisfaction. These platforms analyze sales trends, identify product preferences, and forecast demand, aiding in informed inventory planning and pricing strategies. Moreover, by integrating data from various channels like online sales and social media, CPM software provides insights into customer behavior, enabling targeted marketing campaigns and personalized experiences.
Manufacturing and Supply Chain: CPM software is vital for optimizing operational efficiency and supply chain management in manufacturing. Manufacturers utilize CPM platforms to track production metrics, monitor equipment performance, and allocate resources effectively to boost productivity. Additionally, real-time monitoring of inventory levels, supplier performance, and logistics operations enables proactive decision-making, streamlining the supply chain to meet customer demand efficiently.
Healthcare and Pharmaceuticals: In healthcare and pharmaceuticals, providers analyze patient outcomes, optimize resource utilization, and manage costs efficiently using CPM solutions. Additionally, pharmaceutical companies track drug development, ensure regulatory compliance, and optimize sales and marketing efforts. Leveraging CPM software enables these organizations to enhance patient care, foster innovation, and achieve sustainable growth amidst changing regulations and market dynamics.
Technology and IT Services: Technology firms and IT service businesses utilize CPM software to innovate, optimize projects, and boost client satisfaction. These platforms track project performance, allocate resources, and forecast revenues accurately. Moreover, by analyzing customer feedback and market trends, CPM software helps align product development and sales strategies with evolving customer needs, driving competitive advantage and sustainable growth in a dynamic landscape.
These trends underscore the evolving landscape of CPM software, driven by the need for greater agility, intelligence, and user-centricity in managing corporate performance effectively.
Expansion of Integrated Planning and Analysis Capabilities
The boundaries between traditional CPM, enterprise resource planning (ERP), and business intelligence (BI) functionalities are blurring as CPM software evolves to offer more comprehensive planning and analysis capabilities.
Modern CPM platforms are integrating with ERP systems, BI tools, and data warehouses to provide end-to-end visibility into financial and operational performance.
Shift Towards Cloud-Based Solutions
Cloud-based CPM solutions are gaining popularity due to their scalability, flexibility, and accessibility. Organizations are increasingly adopting cloud-based CPM software to streamline data management, reduce infrastructure costs, and enable remote access for distributed teams.
Additionally, cloud-based CPM platforms offer seamless integration with other business applications, facilitating data exchange and workflow automation across the organization.
Focus on User Experience and Accessibility
User experience (UX) design and accessibility are becoming key priorities for CPM software vendors. As businesses strive to empower users across different departments and skill levels to leverage CPM tools effectively, intuitive interfaces, personalized dashboards, and interactive visualization capabilities are gaining prominence.
Moreover, CPM software is increasingly being designed to support mobile devices, ensuring that users can access critical performance data anytime, anywhere.
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. Schedule your demo today and unlock the full potential of your business performance management.
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