Top capabilities to look for when replacing SAP BPC with CPM Solution
Key Takeaways
⇨ Organizations replacing SAP BPC should prioritize a CPM solution that integrates advanced AI and machine learning for enhanced data analysis and decision-making.
⇨ Essential features for a new CPM system include industry-specific data granularity, multi-currency support, and robust security, ensuring comprehensive operational planning and efficient financial management.
⇨ A future-proof CPM solution must offer real-time updates, SAP integration, and extensive support resources, while being adaptable to evolving industry standards and technological advancements.
Wolters Kluwer provides a detailed checklist for organizations looking to replace SAP BPC with a new Corporate Performance Management (CPM) solution. This guide highlights the essential features to consider when evaluating CPM software, focusing on enhancing financial analysis, decision-making, and operational efficiency.
Key capabilities emphasized include the use of artificial intelligence (AI) and machine learning for data analysis, which can provide deeper insights and more accurate forecasts. A unified approach to Enterprise Performance Management (EPM) is crucial for integrating various financial processes seamlessly. Collaboration tools are also important for ensuring that different departments can work together effectively.
Future-proof technology is another critical factor, as it ensures the solution can adapt to evolving industry standards and technological advancements. The checklist highlights the need for finance-owned solutions that allow the finance team to manage and customize the software without heavy reliance on IT. Additionally, web-based HTML5 capabilities are necessary for accessibility and ease of use across different devices.
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Other significant features include industry-specific data granularity, which ensures the solution can handle detailed and specific data requirements. Operational planning capabilities and relational data models are also important for effective planning and analysis. Support for multi-currency and multilingual environments is crucial for global operations, while advanced data security is essential for protecting sensitive financial information.
Integration with SAP is a key requirement for many organizations, as it ensures smooth data flow between different systems. The automation of intercompany eliminations and the management of complex ownership structures are also critical for simplifying and streamlining financial consolidation processes. Real-time data updates provide timely insights, and extensive support and training resources help ensure that users can fully leverage the solution’s capabilities.
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