C-level executives have shifted their focus to digital business transformation, so the original principles of corporate performance management have become less relevant. Application leaders who are modernizing finance applications need to adapt the finance system strategy to accommodate this shift.
Impacts and Recommendations
- The emergence of digital business has sidelined CPM methodologies and processes, leading to a renewed focus on financial performance and processes
- Integrated financial planning, which brings together financial planning and operational planning, has caused FP&A to become the primary use case for strategic CPM solutions
- The financial close market has evolved from financial CPM to deliver innovation for the controller's organization
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