Business intelligence vendor Cognos Inc. on Monday will announce a new Corporate Performance Management Framework designed to align business strategy with execution across the enterprise while linking people, information and decision-making processes.
The Corporate Performance Management (CPM) framework is designed as a comprehensive BI solution to enable management of planning, budgeting, reporting, analysis and scorecarding, said Rob Rose, vice-president of corporate strategy and business development at Burlington, Mass.-based Cognos.
While many vendors may offer isolated components of CPM, these components often are not linked with performance management, Rose said.
“Companies are looking to have a top-down performance management-based approach.” he said. “When I link BI to the planning process, the plan is linked to the fact of how the business is currently doing and how you want to move forward. Now, I have a clear idea of the investment I’m making in my performance, the results of the performance, and I can always compare against plan.”
Cognos has already shipped a new finance product line featuring planning and budgeting modules that are integrated into the BI framework, Rose said. In addition, future products will be molded to be able to model and manage key performance indicators as opposed to just presenting a scorecard, Rose added.
In addition, the company recently bolstered its ability to help customers enable their enterprises for CPM with the announcement that it had been selected as a global vendor to provide core BI tools for PricewaterhouseCoopers’ iAnalytics solution, according to company officials. The partnership will combine PwC’s experience with applied analytics with Cognos’ BI capabilities.
Enterprises will start to embrace CPM this year by combining BI infrastructure and applications, said Nigel Rayner, an analyst with Gartner. Enterprises that effectively deploy CPM solutions will outperform their industry peers, he added.