Corporate Performance Management in the 2020s – Time for a Change? - OneStream Software
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Corporate Performance Management in the 2020s – Time for a Change?

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The concept of corporate performance management (CPM), also known as enterprise performance management (EPM), has been around for over 20 years.  The focus has historically been on achieving financial goals by linking goal setting to planning, execution and monitoring of the business in a continuous management cycle.  Most organizations have typically set their goals and plans on an annual basis, then reported and analyzed their financial results monthly and quarterly.

However, the pace of business has accelerated over time, with increasing volatility and even major disruptions occurring – such as the financial crisis of 2008 and the COVID-19 pandemic of 2020.  Because of this, it may be time to redefine the concept of performance management both in terms of the frequency of business reviews and type of data that’s in focus.

The Times They Are a Changing

This reboot of CPM was the focus of a recent FSN webinar titled “Is it Time to Change our Performance Management Practices?”  The webinar was hosted and moderated by Gary Simon, Chief Executive of FSN The Modern Finance Forum and his guest speaker was Bill Koefoed, CFO of OneStream Software.

Bill has more than 25 years of finance and technology industry experience. Before joining OneStream in November 2019, Bill served as Chief Financial Officer for online retailer, Blue Nile and prior to that was a partner and CFO for BCG Digital Ventures, part of The Boston Consulting Group. He was the CFO of Microsoft’s Skype Division and before that, the general manager for investor relations at Microsoft.

If you are interested in listening to the 30-minute conversation, here’s a link to the replay of the webinar.  But if you are too busy for that, here’s a quick recap of their discussion:

How Has the COVID-19 Crisis has Impacted Finance Teams and Processes? 

How are Performance Management Processes being Adapted to the Crisis?

How has Reporting and Forecasting Changed in Recent weeks?

Should Supplier and Customer Data be More Central to Performance Management?

Some CFOs and Finance Teams Are More Prepared Than Others – What Distinguishes Them?

Learn More

The conversation between Mr. Simon and Mr. Koefoed was engaging, covering a broad range of topics that are top of mind for CFOs and finance teams, and highlighted several best practices that can be adopted to help organizations prepare for the next disruption.  To learn more, watch and listen to the replay of the webinar.

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