2024’s Best Corporate Performance Management Software
Best CPM Software Shortlist
Here are the 10 best CPM software providers on the market in 2024 (in no particular order):
Our one-on-one guidance will help you find the perfect fit.
Keeping an eye on your company’s performance doesn’t have to be difficult. Corporate performance management software brings all your metrics into one streamlined platform, helping you stay on top of goals and progress.
I’ve reviewed the top options and put together a shortlist for you. Here are the best corporate performance management software tools in 2024—complete with why they excel, what they’re best at, and which types of businesses they’re ideal for.
Quick Comparison of CPM Tools
As you get started, I wanted to give you the option to see compare information about the 10 best CPM tools, side by side. Just click the Compare Software button at the bottom and voilà — the key points for each tool.
| Tools | Price | |
|---|---|---|
| AchieveIt | From $70/user/month | Website |
| Phocas | Pricing upon request | Website |
| Vena | Pricing upon request | Website |
| Anaplan | Pricing upon request | Website |
| Board | Pricing upon request | Website |
| Prophix | Pricing upon request | Website |
| Sisense | Pricing upon request | Website |
| Workday Adaptive Planning | Pricing upon request | Website |
| SAP Analytics Cloud | From $36/user/month | Website |
| Cube | Priciing upon request | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareOverview of the Best Corporate Performance Management Software
There are hundreds of CPM solutions on the market. I’ve narrowed it down to the top 10 options, which you’ve seen on the shortlist I provided above. Here’s some information on why I chose each tool, what they’re best for, where they could improve, and more.
AchieveIt is a strategic planning and execution management tool that simplifies ideation for employees and provides necessary visibility into strategies for the organization as a whole. It offers a user-friendly platform for connecting integrated plans, managing progress, reviewing performance, and achieving goals.
The platform automates update collection, increases initiative awareness, and connects disparate information. With goals, plans, and execution strategies in one place, everyone in your corporate environment can feel more accountable for driving overall company performance.
Why I picked AchieveIT: This software provides real-time insights with various views and custom dashboards. This ensures that all levels of the organization have access to the information they need to manage progress effectively. Additionally, if you have multiple teams working across different platforms, AchieveIt has the ability to connect this information and funnel it all in one place.
This tool also has a flexible planning interface, so you can organize your goals and other benchmarks in a way that makes sense for your company or industry.
AchieveIt Standout Features and Integrations
Standout features include custom dashboards, task management, goal setting, performance assessment, automation, and more.
Integrations are available through the software’s open API. AchieveIt's team can also work with you directly to connect to other tools.
Pros and cons
Pros:
- Collects disparate data in one place
- Ability to track and monitor activities and performance measures
- Customizable planning dashboards
Cons:
- Difficulty in setting up multi-year tracking of performance
- Limited ability to extract and report historical information
Phocas is a business intelligence and financial analysis platform that provides organizations with a centralized place to view data, reports, and insights related to various aspects of their operations.
Its dashboards are fully customizable, allowing users to build, tailor, and share to visualize financial ratios and KPIs. It also facilitates real-time collaboration and automated workflows with assignment, submission, and approval processes.
Why I picked Phocas: I chose Phocas because it integrates data across different business departments, like sales, operations, HR, and marketing, and offers customizable reports to help businesses understand current performance compared to planned targets. It also has forecasting features and data modeling capabilities to help teams plan their operations around their goals.
Phocas Standout Features and Integrations
Standout features include Phocas AI for quick questions and insights, inventory performance analysis, rebate visibility, CRM functionalities, privacy compliance, and security controls.
Integrations include Sympac, Microsoft, Acumatica, Xero, Khaos Control, SYSPRO, Retail Express, Epicor, IFS, Sage, Accolent, MYOB, Enapps, Kerridge, SAP, Datafile, Netsuite, Oracle, QAD, MAM Software, and more.
Pros and cons
Pros:
- Forecasting across different business functions
- Phocas AI to retrieve reports and data
- Real-time data access
Cons:
- It may take time to learn all the features
- Users may be overwhelmed with the amount of data
Vena is a Microsoft Excel-native CPM solution that’s relatively simple to use (at least for Excel experts).
Vena implements many task-management and communication features directly into the platform, enabling finance teams to work together with less friction. Threaded, in-sheet comment replies and due-date assignments are just two examples of Vena’s genuinely useful collaboration functionality.
Why I picked Vena: I chose to include Vena because it’s Excel-native, making it easy to learn—and because of its ample collaboration features.
Vena Standout Features and Integrations
Standout features of Vena include intuitive drag-and-drop report building for simplicity, collaboration features such as threaded comment replies, and task-management features to help teams work together with fewer third-party tools.
Integrations include Oracle, Sage, SAP, QuickBooks, and Salesforce, and the Excel-native integration makes it simple to import Excel spreadsheets and data in order to take existing Excel models even further.
Pros and cons
Pros:
- Free 7-day demo preview
- Excel native and intuitive for Microsoft 365 users
- Good for collaboration
Cons:
- Limited third-party integrations
- Spreadsheet native, but lacks Google Sheets support
Anaplan is an enterprise-level CPM solution that powers some of the biggest companies in the world. Its functionality relies heavily on machine learning and predictive analysis to model complex business scenarios, and it’s highly adaptive to changing businesses and industries.
To be frank, Anaplan is overkill for smaller firms—and likely too pricey, as well, with significant upfront licensing costs. But for enterprise firms, Anaplan’s advanced feature set is well worth the cost of admission.
Collaboration is a big selling point of Anaplan. Tools are designed to support finance and executive teams while also integrating real-time data from all departments. And responsive, cloud-based cross-compatibility means that team members can work together remotely and efficiently.
Why I picked Anaplan: I picked Anaplan as a top option for large corporations due to its collaborative features and complex business modeling capabilities.
Anaplan Standout Features and Integrations
Standout features of Anaplan include detailed hyperscale models for custom predictive modeling, workforce planning tools, predictive algorithms, and collaborative features to help finance teams work together more efficiently.
Integrations include cloud systems like AWS, Microsoft Azure, Google BigQuery, and more.
Pros and cons
Pros:
- Solutions for most enterprise modules; human resources, finance, supply chain, and more
- Data security and reliability
- Increased visibility into transaction-level data
- Intuitive, enterprise-wide modeling
- Real-time collaboration features are great for large teams
Cons:
- Some advanced features are reserved for higher-tier plans (more expensive)
- Annual subscription costs include significant upfront licensing fees
Board is an advanced business planning platform that combines traditional CPM software tech with advanced predictive analytics and business intelligence features. It’s an excellent option for small to midsize firms, but may lack some of the features needed for larger corporations.
Why I picked Board: Board is a versatile solution that lends itself well to a wide variety of use cases and business sizes. It also lets you choose between installing the software as an on-site legacy system, or using their cloud-based solution that’s accessible from just about any device.
Board Standout Features and Integrations
Standout features of Board include real-time modeling, and advanced data mapping and visualization tools.
Predictive analytics features are another standout selling point of Board. Machine learning forecasting, statistical functions, and advanced simulation allow firms to test a wide variety of what-if scenarios that pull from real-time data to give you the exact information you need.
Integrations include SAP, Microsoft Azure, Vertica, Exasol, and it easily integrates with MS Office and dozens of other tools.
Pros and cons
Pros:
- Versatile feature set and user-friendliness support a wide variety of firms
- Responsive mobile apps and cross-platform support
- BI features complement traditional CPM functionality
Cons:
- Customer support is known for slow response times
- Limited customization options for reporting
Prophix is a CPM platform with ample automation features. With Prophix, the more time-consuming and mundane financial processes like forecasting, reporting, and budgeting can all be automated so finance teams are free to focus on more value-added activities.
Beyond automation, another key selling point of Prophix is security. Prophix maintains a comprehensive set of InfoSec and privacy protocols to protect customer data and internal processes. It’s certified against multiple security framework standards, including ISAE 3402, SOC1 Type 2, SOC2 Type2, SOC3 Type 2, ISO 27001, ISO 27017, ISO 27018, and more.
Why I picked Prophix: I selected Prophix because of its automation-focused approach to CPM.
Prophix Standout Features and Integrations
Standout features of Prophix include a security-first digital infrastructure for enterprise-level data security, data integration from multiple sources, and AI-driven anomaly detection for more efficient financial closing.
Integrations include Sage, Microsoft Dynamics 365, Deltek, QAD, and more.
Pros and cons
Pros:
- Facilitates a faster financial close
- AI-driven features can help detect anomalies and errors
- Intuitive UI
- Top-tier security and data protection
- Automations
Cons:
- Designed for finance teams (non-finance teams may face a steeper learning curve)
- Customer support for third-party integration is somewhat lacking
All corporate performance management software solutions worth their salt will be highly data-driven. But Sisense stands apart as one of the most data-intensive platforms on the market. For companies whose operations involve large volumes of data, Sisense may be a good fit.
Sisense makes it relatively simple to merge multiple data sources through ample third-party integrations—and importantly, user-friendly visualization tools available through the primary analytics dashboard enable teams to actually utilize said data for key operational decisions. It’s also easier to spot data irregularities and anomalies, making Sisense a solid tool for internal auditing processes.
Why I picked Sisense: I selected Sisense because of its ability to handle huge volumes of business data while providing analytics and insights in a digestible format.
Sisense Standout Features and Integrations
Standout features of Sisense include a fully customizable analytics dashboard with simplified data views to identify trends, and the option to integrate Sisense analytics into third-party applications.
Integrations include common SQL databases, AWS, Snowflake, Exasol, Salesforce, and more.
Pros and cons
Pros:
- Good out-of-box functionality
- Easily shareable dashboards and reports
- Custom dashboards with almost infinite customization options
- Intuitive UI
Cons:
- Customer support is lacking
- Confusing error messages
I picked Workday as a good option for rapidly growing/changing firms for two reasons. The first is that it takes a broader approach than just finance. Its HR and hiring insights in particular are valuable for growing firms.
The second is the ease of integration with other Workday tools, including its financial management, strategic planning, and human capital management platforms.
Why I picked Workday: I selected Workday for its comprehensive EPM features and its focus on versatility. Teams easily collaborate on operations, supply chain, marketing, HR, and IT.
Workday Standout Features and Integrations
Standout features of Workday Adaptive Planning include elastic hypercube technology (Workday’s proprietary modeling system) for advanced financial modeling, drag-and-drop report building, and embedded machine learning.
Integrations include over 600 pre-built integrations, and Workday offers custom integration support. This tool can be used alone or in conjunction with Workday Financial Management (and other Workday business tools).
Pros and cons
Pros:
- Unlimited scenario planning
- Strong data security
- Fast deployment and configuration
- Full EPM functionality gives you a broader look at your operations
Cons:
- Limited collaboration features
- Steep learning curve
SAP Analytics Cloud is a business intelligence (BI) and enterprise planning solution. Uniquely, the service offers split plans: Standard BI features are available in a surprisingly low-cost plan (from just $36/month), while enterprise planning features are available in more traditionally priced custom plans.
Personally, I like this pricing model. For budget-minded firms, a ton of value can be gained through SAP’s BI insights. The Smart Insights feature offers insights into the context behind your firm’s data, while Smart Predict provides useful predictive analytics with one click. And it’s all displayed with a user-friendly UI and attractive visualization features.
For the full deal, firms can upgrade to BI + enterprise planning, which dramatically expands on the feature set of SAP Analytics Cloud.
Why I picked SAP Analytics Cloud: I selected SAP Analytics Cloud as a top option for budget-minded firms due to its competitive pricing, starting at just $36 per month.
SAP Analytics Cloud Standout Features and Integrations
Standout features of SAP Analytics Cloud include augmented analytics, self-service data modeling for user-friendly custom modeling, extended scenario planning, and predictive forecasting.
Integrations include other SAP systems, Google BigQuery, SQL, and more.
Pros and cons
Pros:
- Advanced BI tools at a low cost
- Module service bundles make it simple to build a budget-appropriate software package
- Affordable plans from $36/mo
Cons:
- Learning curve can be steep for new users
- Limited data-prep features
Cube is a financial planning & analysis (FP&A) solution that’s spreadsheet native. It’s built around Microsoft Excel and uniquely also supports bi-directional work through Google Sheets. Cube’s simple-yet-comprehensive functionality is highly user-friendly and is also easy to set up and get onboarded.
Why I picked Cube: I selected Cube primarily because of its ease of use and intuitive UI. The spreadsheet-native design is dead simple to use, yet the software can handle companies of all sizes.
Cube Standout Features and Integrations
Standout features of Cube include automated data consolidation from multiple sources, multi-scenario analysis, multi-currency support for international operations, and advanced audit trailing to identify discrepancies and reduce errors.
Integrations include native integration with popular spreadsheet tech like MS Excel and Google Sheets, Cube also integrates with dozens of other tools, including NetSuite, QuickBooks, MS Dynamics, ADP, QuickBooks, Sage, Gusto, Snowflake, and Salesforce.
The Enterprise-level Cube plan comes with custom integration—meaning Cube’s team will work with you to integrate your existing systems and create custom solutions.
Pros and cons
Pros:
- Spreadsheet native with bi-directional editing (Excel & Sheets)
- Transparent pricing (pricing is publicly available)
- Custom integrations available on Enterprise plan
Cons:
- Limited payroll/headcount monitoring features
- Solely focused on FP&A
Other Corporate Performance Management Software Options
Didn’t quite find what you were looking for? Here are several more corporate performance management solutions to consider.
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CPM Software Selection Criteria
Here's how I determined the tools that would go on this list:
- I researched and compared corporate performance management software, to create an initial list of options.
- I considered common buyer needs and pain points—like ease of use and integration with other tools—to condense the list.
- Finally, I took a pass over the list, using the following evaluation criteria, to come up with the top ten options.
Core Functionality (25% of total weighting score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Financial planning and budgeting
- Performance reporting and analytics
- Forecasting and modeling
- Consolidation and close management
- Strategy management and execution
Additional Standout Features (25% of total weighting score)
To help further narrow down the competition, I also looked for unique features, such as:
- Advanced predictive analytics
- AI-driven insights and recommendations
- Real-time financial dashboards
- Seamless ERP integration
- Customizable workflow automation
Usability (10% of total weighting score)
To get a sense of the usability of each system, I considered the following:
- Intuitive user interface
- Easy navigation between features
- Availability of mobile apps
- Pre-built templates for quick setup
- Minimal clicks to perform complex tasks
Onboarding (10% of total weighting score)
To evaluate the onboarding experience for each platform, I considered the following:
- Interactive product tours
- Availability of training videos
- Comprehensive onboarding checklists
- Access to live webinars
- Supportive customer success teams
Customer Support (10% of total weighting score)
To assess each software provider’s customer support services, I considered the following:
- 24/7 live chat support
- Responsive email support
- Availability of a detailed knowledge base
- Option for phone support
- Regular business reviews and progress tracking
Value For Money (10% of total weighting score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing against similar tools
- Availability of a free trial or freemium model
- Flexible pricing plans to suit various business sizes
- Inclusion of essential features in lower-tier plans
- Clear and transparent pricing structure
Customer Reviews (10% of total weighting score)
Everyone's going to claim their product is great. To get a real sense of overall customer satisfaction, I read customer reviews and considered the following:
- Feedback on the value provided for the price
- High net promoter score
- Positive feedback on ease of use
- Reviews highlighting excellent customer support
- Comments on the tool's reliability and performance
Trends in Corporate Performance Management Software
In my research, I sourced countless product updates, press releases, and release logs from different corporate performance management software vendors. Here are some of the emerging trends I’m keeping an eye on:
- AI-Driven Insights: AI and machine learning are being used to analyze data and provide actionable insights. For example, some vendors offer predictive analytics to help businesses forecast performance and identify potential issues before they occur.
- Dynamic Scenario Planning: Companies are increasingly using software that allows for real-time scenario planning. This helps businesses quickly adapt to market changes by modeling various financial outcomes and making informed decisions based on those models.
- User-Friendly Dashboards: Modern corporate performance management tools now feature highly customizable dashboards. These dashboards make it easier for users to visualize key metrics and trends, improving the ability to monitor and react to business performance.
- Collaborative Workspaces: More tools now include features for team collaboration directly within the software. This enables multiple stakeholders to work together in real-time, streamlining the process of performance review and strategy planning.
- Enhanced Data Integration: Vendors are focusing on better integration capabilities with various data sources. This ensures that all relevant data can be easily pulled into the performance management system, providing a more comprehensive view of business performance.
What is Corporate Performance Management Software?
Corporate performance management software is used to help organizations track and manage their financial performance, facilitate strategic planning, financial management, and performance analysis, fostering better decision-making and organizational success.
It typically includes features such as budgeting and forecasting tools, strategic planning, performance analytics, and financial reporting. These features optimize decision-making processes, enhance collaboration, and provide a comprehensive view of an organization's performance metrics.
How to Choose Your CPM Software
Even with the help of an amazing software analyst (ahem, me), it’s easy to get bogged down in long feature lists and complex pricing structures.
To help you stay focused as you work through your own software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
|---|---|
| Scalability | Can the software grow with your company? |
| Integrations | Does it integrate with your existing tools? |
| Customizability | Can you tailor it to meet your team’s specific needs? |
| Ease of Use | Will your team find it intuitive and straightforward? |
| Budget | Does it fit within your financial constraints? |
| Security Safeguards | Are there robust measures to protect your data? |
Features of Corporate Performance Management Software
When selecting CPM software, keep an eye out for the following key features:
- Financial consolidation and reporting: Integrates financial data from multiple sources to provide a comprehensive view of the company's financial status.
- Budgeting and forecasting: Allows for the creation of detailed budgets and forecasts, helping companies plan for future financial performance.
- Dashboards and visualizations: Provides graphical representations of data, making it easier to understand complex information at a glance.
- Strategic planning: Supports long-term business strategy development by aligning financial plans with business goals.
- Scenario analysis: Enables the modeling of different business scenarios to assess potential impacts and outcomes.
- Workflow management: Streamlines the approval and review processes, ensuring accountability and efficiency.
- Data integration: Connects with various data sources to ensure all relevant information is available for analysis and decision-making.
- Regulatory compliance: Helps ensure that all financial reporting meets the necessary legal and regulatory standards.
- Performance metrics and KPIs: Tracks key performance indicators to monitor business performance and identify areas for improvement.
- Collaboration tools: Facilitates teamwork and communication among different departments, enhancing overall productivity and coordination.
Benefits of CPM Tools
Implementing corporate performance management software provides several benefits for your team and your business. Here are a few you can look forward to:
- Improved decision-making: Enhanced data analysis and reporting tools enable better and faster decisions.
- Increased efficiency: Automation of routine tasks reduces manual work and saves time.
- Enhanced collaboration: Centralized data and shared reports make it easier for teams to work together.
- Better goal alignment: Tools for setting and tracking goals help ensure everyone is working towards the same objectives.
- Real-time insights: Instant access to performance metrics allows for timely adjustments and responses.
- Cost management: Budgeting and forecasting features help maintain control over expenses.
- Regulatory compliance: Compliance tracking and reporting tools help meet industry regulations and standards.
Average Costs and Pricing of CPM Software
Selecting corporate performance management software requires an understanding of the various pricing models and plans available. While I've already laid out the tool-specific information I could find, here are some generalized ranges to give you a bit of an idea about what you'll be paying for, and getting, with each tier of software:
Plan Comparison Table for Corporate Performance Management Software
| Plan Type | Average Price (/user/month) | Common Features |
|---|---|---|
| Free Plan | $0 | Basic reporting, limited integrations, and community support. |
| Personal Plan | $10-$30 | Advanced reporting, some integrations, email support, and basic data import. |
| Business Plan | $30-$60 | Comprehensive reporting, multiple integrations, phone support, and custom dashboards. |
| Enterprise Plan | $60-$120 | All features, unlimited integrations, dedicated support, and advanced security. |
FAQ About CPM Tools
Still have questions? Some of the most commonly asked questions about CPM tools are answered below, but for more technical information or product questions, it’s always worthwhile to reach out to the software provider.
Do I need IT support to implement CPM software?
Bad news: probably.
You’ll likely need IT support to implement CPM software, especially for initial setup and integration with other systems. However, after set-up is complete, probably not. Many CPM software solutions are designed to be user-friendly, allowing business users to manage day-to-day operations without extensive IT involvement.
Can I customize reports in CPM software?
Yes. If you can’t, look at other options. You can typically choose which data points to include, how to visualize the data, and how frequently reports are generated.
What are the benefits of CPM software?
CPM software can be used to help companies increase revenue, reduce costs, improve productivity, automate processes, and identify bottlenecks in the production process.
Of course, CPM software must be used correctly to maximize benefits. To create meaningful change in an organization, it’s up to team individuals working within the company to implement the CPM software’s recommendations.
What is the difference between CPM and EPM?
Corporate performance management and enterprise performance management (EPM) software are closely related but differ in scope:
- CPM software focuses on financial performance management within an organization. It typically covers budgeting, forecasting, financial reporting, and key financial metrics tracking. It’s more narrowly tailored to financial teams for managing a company’s financial health.
- EPM software is broader, encompassing CPM as a subset. In addition to financial management, EPM includes operational performance across various departments (e.g., HR, marketing, supply chain). It helps manage overall organizational strategy, aligning business processes and resources with long-term goals.
In short, CPM is a more specific type of financial management software, while EPM is a broader, all-encompassing tool for managing overall business performance.
What DOESN'T CPM software include?
CPM software typically doesn’t include employee reviews. While it may track employee satisfaction and retention as part of broader performance indicators, the software is primarily focused on aligning business strategies with operational plans and outcomes.
Which corporate performance management software is easiest to use?
The answer to this question largely depends on the use case, the firm’s size, and the existing systems that teams are familiar with.
That said, tools including Anaplan, Mosaic Tech, Board, and Vena consistently earn high ratings for usability.
Why Trust Our Software Reviews
We’ve been testing and reviewing finance and accounting software since 2023. As financial operators ourselves, we know how critical and difficult it is to make the right decision when selecting software. We invest in deep research to help our audience make better software purchasing decisions.
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Stop Scrolling, Start Executing
If you've read this far, chances are you're procrastinating making a decision. Truly, don't worry about it.
The CPM tools discussed above strike a good balance between features, user-friendliness, and value — you really can’t go wrong with any option on the list. And hey, if you're scared of getting torn apart by your boss, let Joe help you. That's him, there -->
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