Performance Management is about the people, processes and technology used to manage “the business”. It is usually powered by packaged software, commonly referred to as a CPM (Corporate Performance Management) or EPM (Enterprise Performance Management) application. Because it is primarily a business application, a “business” buyer needs to be actively involved, if not lead, the vendor selection process. Similarly, since it is a software application, IT needs to be involved to ensure it can co-exist with existing IT infrastructure and applications.
Both perspectives – business and IT – are critical to ensuring the long-term success of a performance management initiative. Overlooking either can lead to dissatisfaction and even to failure. If technical requirements outweigh business requirements, for example, it can lead to the selection and deployment of solutions that may not meet original business objectives. On the other hand, if technical requirements are overlooked, system problems or issues may arise (e.g. hardware, software, network, etc.) or it might lead to an increase in the burden placed on IT staff.
Business leaders must take an active role in the vendor selection process and team up with IT to ensure the selection of the right CPM platform. This paper offers some tips to help guide a business buyer in the selection process.
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