For many years it seems like every mid-market and enterprise resource planning (ERP) vendor has aspired to offer native financial consolidation software. However, they all seem to fall short, often to the disappointment of customers that were promised that their new ERP system easily could produce the consolidated financials from their individual subsidiary ledgers. So why is it so hard for an ERP vendor to deliver the necessary financial consolidation functionality inside the ERP system itself? There can be any number of reasons. Limitations in Current Financial Consolidation ERPs Lack of ability to handle different chart of accounts Lack of ability of consolidating across subsidiaries with
Why companies are upgrading from spreadsheets to Corporate Performance Management Software There are typically two or three key motivators why an organization starts looking for Corporate Performance Management (CPM) solution: 1. The pain of manual reporting or budgeting in spreadsheet is becoming a major burden on the finance team. 2. Management sees a strategic advantage in automated reporting, planning and analysis tools to drive better and faster decisions than competitors. 3. The company is migrating to a cloud ERP system and also wants to update reporting and budgeting to a best-of-breed cloud solution. Why careful CPM vendor selection is important 1. Turbulent Mergers & Acquisition (M
