Business Performance Management (BPM) systems are a suite of tools and methodologies used by organizations to monitor, analyze, and improve their performance across various departments and functions. They help businesses achieve their strategic objectives by providing insights into:

• Operational efficiency: Streamlining processes and identifying areas for improvement.
• Financial performance: Tracking key financial metrics and identifying trends.
• Customer satisfaction: Measuring customer experience and identifying areas for improvement.
• Employee performance: Aligning individual performance with organizational goals.
• Strategic alignment: Ensuring that all activities are aligned with the company’s overall strategy.

Benefits of BPM Systems:

• Improved decision-making: By providing access to real-time data and insights, BPM systems help businesses make data-driven decisions.
• Increased efficiency and productivity: By identifying bottlenecks and optimizing processes, BPM systems can help businesses improve their efficiency and productivity.
• Enhanced collaboration and communication: BPM systems can help break down silos and improve communication and collaboration between departments.
• Reduced costs: By identifying and eliminating waste, BPM systems can help businesses reduce costs.
• Improved risk management: By providing early warning signs of potential problems, BPM systems can help businesses mitigate risks.

Types of BPM Systems:

• Corporate Performance Management (CPM): Focuses on financial performance metrics and reporting.
• Business Intelligence (BI): Provides data visualization and analysis tools.
• Enterprise Performance Management (EPM): Integrates financial and operational data to provide a holistic view of performance.
• Operational Intelligence (OI): Focuses on real-time data and process improvement.
• Strategic Planning and Management: Supports the development and execution of strategy.

Popular BPM Systems:

• NetSuite: Provides a cloud-based ERP and BPM system.
• Workday: Offers a cloud-based HCM and BPM system.
• SAP Business One: Provides an on-premise ERP and BPM system for small and medium businesses.
• Oracle Enterprise Performance Management: Offers a comprehensive suite of EPM applications.
• IBM Cognos TM1: Provides a powerful BI and performance analysis platform.

Selecting the Right BPM System:

There are a number of factors to consider when selecting a BPM system, including:

• Business needs: What are your specific needs and goals for BPM?
• Budget: How much are you willing to spend on a BPM system?
• Industry: Are there any industry-specific BPM systems available?
• Integration: Can the BPM system be integrated with your existing systems?
• Scalability: Can the BPM system grow with your business?

Additional Resources:

• NetSuite: https://www.netsuite.com/portal/resource/articles/erp/business-performance.shtml
• Kissflow: https://en.wikipedia.org/wiki/BPM
• CCH Tagetik: https://www.wolterskluwer.com/en/solutions/cch-tagetik/glossary/business-performance-management
• Wikipedia: https://en.wikipedia.org/wiki/BPM

Also, from another source:

BPM has been more commonly used to refer to Business Process Management, which focuses on improving and optimizing business processes.

Corporate Performance Management (CPM) or Enterprise Performance Management (EPM) systems:

Corporate Performance Management (CPM) or Enterprise Performance Management (EPM) Systems:

1. Planning and Forecasting:

• Budgeting: CPM systems assist in creating and managing budgets, ensuring alignment with strategic goals.
• Forecasting: They allow for predictive analysis and forecasting based on historical and real-time data.

2. Financial Consolidation:

• Consolidation and Reporting: CPM systems help in consolidating financial data from different sources for accurate reporting.
• Compliance: Ensure compliance with financial regulations and standards.

3. Scorecard and KPI Management:

• Key Performance Indicators (KPIs): Define and monitor KPIs to measure the success of strategic objectives.
• Scorecards: Visual representations of performance metrics.

4. Analytics and Business Intelligence:

• Data Analysis: Utilize analytics tools to extract insights from data for informed decision-making.
• Dashboards: Provide interactive and visual representations of key metrics.

5. Strategy Management:

• Strategy Alignment: Ensure that business activities align with organizational strategies.
• Cascade Objectives: Cascade strategic objectives down to operational levels for consistent alignment.

6. Performance Monitoring:

• Real-time Monitoring: Track performance in real-time to identify issues promptly.
• Variance Analysis: Analyze variances between planned and actual performance.

7. Risk Management:

• Risk Assessment: Identify and assess risks to business performance.
• Mitigation Strategies: Develop strategies to mitigate identified risks.

8. Collaboration and Workflow:

• Collaboration Tools: Facilitate communication and collaboration among teams.
• Workflow Automation: Streamline processes and reduce manual effort through automation.

Implementing a CPM or EPM system can provide organizations with a holistic view of their performance, aiding in strategic decision-making and continuous improvement.