Corporate Performance Management Software Market Size and Trends

The corporate performance management (CPM) software market size is forecast to increase by USD 1.90 billion, at a CAGR of 12.1% between 2024 and 2028. Corporate Performance Management (CPM) software has become an indispensable tool for businesses seeking to streamline their operations, enhance business intelligence, and facilitate strategic management. The market for CPM software is experiencing significant growth due to the benefits it offers, such as real-time processing and reporting of financial and operational data, performance monitoring, and collaborative efforts among various business units. The adoption of artificial intelligence (AI) in CPM software is a notable trend, enabling advanced analytics and predictive capabilities. However, the need for extensive technical training can pose a challenge for smaller businesses and organizations with limited resources. Metrics sources, including books of accounts, are integrated into CPM software to provide a comprehensive view of business performance. Processing and reporting capabilities are essential for effective business management, while performance monitoring ensures that businesses stay on track toward their goals. Overall, CPM software plays a crucial role in enabling data-driven decision-making and strategic planning for businesses.

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Corporate Performance Management (CPM) is a strategic business process designed to align an organization's business objectives with day-to-day operations. It enables businesses to collect, analyze, and report data to effectively manage and improve performance. CPM software plays a crucial role in this process by providing advanced capabilities for reporting, performance monitoring, and strategic financial planning. At the heart of CPM are various metrics sources, including books of accounts, cash flow statements, balance sheets, and income statements. These financial statements serve as the foundation for budgeting, forecasting data, and strategic financial planning. By consolidating financial data from various sources, businesses can gain a comprehensive understanding of their financial position and identify trends and anomalies. Budgeting and forecasting are essential components of CPM, allowing businesses to set financial targets and assess their performance against these targets. Scenario analysis and what-if simulations enable organizations to evaluate the potential impact of various business decisions on their financial performance. Collaborative efforts between different departments and stakeholders are a key aspect of CPM.

These models facilitate communication and alignment between departments and help ensure that everyone is working towards the same goals. Productivity, employee turnover, and satisfaction are critical performance indicators in any organization. CPM software can help monitor these metrics and provide insights into the underlying causes of any issues. By identifying operational capabilities that require improvement, businesses can take steps to address these issues and improve overall performance. Strategic process management is another important aspect of CPM. MPO (Making Strategy Happen) models, such as the Strategy-Focused Organization (SFO) and the Balanced Scorecard, provide a structured approach to implementing strategy throughout the organization. These models help ensure that everyone understands their role in achieving the organization's strategic objectives and that resources are allocated effectively. In conclusion, Corporate Performance Management software plays a vital role in enabling organizations to monitor, measure, and improve performance. By providing advanced capabilities for reporting, performance monitoring, and strategic financial planning, CPM software helps businesses make informed decisions, streamline processes, and ultimately, drive better business outcomes.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Deployment
  • On premises
  • Cloud
• Geography
  • APAC
    • China
    • Japan
  • Europe
    • Germany
    • France
  • North America
    • US
  • Middle East and Africa
  • South America

By Deployment Insights

The on premises segment is estimated to witness significant growth during the forecast period. Corporate Performance Management (CPM) software is a crucial process for businesses to align their operations, finance, HR, and business strategies with organizational goals. CPM software enables an integrated approach to business planning, forecasting, and performance measurement. On-premises CPM software solutions are installed and maintained on an organization's server, providing complete control over critical data.

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The on premises segment accounted for USD 1.18 billion in 2018 and showed a gradual increase during the forecast period. While on-premises deployment offers features such as workflow streamlining and enhanced security, it comes with a higher cost of implementation and upgrades compared to cloud-based solutions. The market share of on-premises CPM software is projected to decrease during the forecast period due to these factors. However, the security benefits of on-premises CPM software make it a preferred choice for organizations seeking to maintain full control over their sensitive data.

Regional Analysis

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APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.  In the Asia Pacific (APAC) region, there is a significant trend towards the adoption of advanced technologies, such as AI, edge computing, IoT, analytics, and the cloud, for enterprise performance management (CPM). This technological embrace is driven by the presence of numerous enterprises in industries like manufacturing, energy and utilities, transportation and logistics, chemicals, and aerospace, which are based in countries such as China, Japan, Australia, Singapore, India, and Indonesia. Additionally, government organizations in the region are increasingly adopting cloud-based CPM solutions. Furthermore, the presence of a large number of small and medium-sized enterprises (SMEs) in APAC further fuels the demand for CPM software. This integrated approach to business planning, forecasting, finance, operations, HR, and organizational goals enables enterprises to effectively manage their performance and align their strategies with their objectives.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

Benefits of CPM software is notably driving the market growth. Corporate Performance Management (CPM) software is a vital component of Business Intelligence (BI), facilitating the monitoring and management of an organization's performance through key performance indicators (KPIs), such as revenue, ROI, and operational costs. CPM solutions streamline data collection and manipulation processes for finance departments, enabling them to focus on data analysis and strategic decision-making. These software tools provide several benefits, including generating timely and accurate performance metrics, aligning strategies with business objectives, and enhancing operational capabilities. Balanced

CPM solutions contribute to improved employee turnover rates, productivity, and satisfaction by providing actionable insights and fostering a data-driven culture. Organizations can leverage these tools to assess their performance against industry benchmarks and identify areas for improvement, ultimately leading to better business outcomes. Thus, such factors are driving the growth of the market during the forecast period.

Market Trends

Need for extensive technical training is the major challenge that affects the growth of the market. Corporate Performance Management (CPM) software plays a crucial role in measuring and enhancing an organization's performance through various metrics. However, implementing these solutions can pose challenges due to their complex nature. The creation and modification of reports and dashboards often necessitate a significant level of technical expertise, which can drive up the total cost of ownership. For finance teams, these dependencies on IT specialists can lead to frustrating delays and hinder productivity. Balance Scorecards, such as the EFQM Excellence Model, and MPO (Maps strategies) are integral components of CPM software.

Further, employee turnover and satisfaction, operational capabilities, and strategic alignment are essential areas of focus in CPM. Building and maintaining the necessary competencies and skills, as well as securing adequate financial and human resources, are critical challenges in the global market for CPM software. Hence, the above factors will impede the growth of the market during the forecast period

Market Challenge

The need for extensive technical training is the major challenge that affects the growth of the market. Corporate Performance Management (CPM) software plays a crucial role in measuring and enhancing an organization's performance through various metrics. However, implementing these solutions can pose challenges due to their complex nature. The creation and modification of reports and dashboards often necessitate a significant level of technical expertise, which can drive up the total cost of ownership. For finance teams, these dependencies on IT specialists can lead to frustrating delays and hinder productivity. Balance Scorecards, such as the EFQM Excellence Model, and MPO (Maps strategies) are integral components of CPM software.

Additionally, employee turnover and satisfaction, operational capabilities, and strategic alignment are essential areas of focus in CPM. Building and maintaining the necessary competencies and skills, as well as securing adequate financial and human resources, are critical challenges in the global market for CPM software. Hence, the above factors will impede the growth of the market during the forecast period

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Anaplan Inc.: The company offers corporate performance management software which provide enterprise-grade collaborative business planning and business intelligence.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Board International SA
• Epicor Software Corp.
• GS Topco GP LLC
• Hexagon AB
• Infor Inc.
• International Business Machines Corp.
• Jedox GmbH
• Kepion Inc.
• Mosaic
• OneStream Software LLC
• Oracle Corp.
• Planful Inc.
• Prophix Software Inc.
• SAP SE
• Solver Inc.
• Unit4 Group Holding B.V.
• Vena Solutions Inc.
• Wolters Kluwer NV
• Workday Inc.
• Workiva Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

Corporate Performance Management (CPM) software plays a crucial role in processing and reporting performance data for businesses. This integrated approach to business management facilitates strategic monitoring and analysis of key performance indicators (KPIs) derived from various sources, including financial statements such as balance sheets, income statements, and cash flow statements, as well as books of accounts. CPM software enables effective collaboration between finance, operations, HR, and other departments in setting organizational goals and aligning KPIs with strategic initiatives. The software supports budgeting, forecasting, and strategic financial planning, allowing businesses to analyze performance against targets and conduct scenario analysis.

Moreover, CPM software consolidates financial data and reporting results, streamlining the closing of the books and providing senior executives with valuable insights for strategic decision-making. CPM software enables businesses to improve operational capabilities, reduce costs, and enhance productivity, employee turnover, and satisfaction. By aligning KPIs with organizational goals and management processes, businesses can effectively execute strategies, upgrade their business model, and stay competitive in their industry.

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What are the Key Data Covered in this Market Forecast Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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