Top Free Corporate Performance Management (CPM) Software

Check out our list of free Corporate Performance Management (CPM) Software. Products featured on this list are the ones that offer a free trial version. As with most free versions, there are limitations, typically time or features.

If you'd like to see more products and to evaluate additional feature options, compare all Corporate Performance Management (CPM) Software to ensure you get the right product.

(134)4.4 out of 5
Optimized for quick response

At Workday, we’re powering a new generation of enterprise planning and analysis. Driving business agility in a fast-moving world, Workday Adaptive Planning helps people gain insights, collaborate, and make smarter decisions, faster. Powerful modeling and analytics for any size organization, yet so easy for anybody who plans. Our planning cloud application enables organizations of all sizes to adapt to a changing world and shifting business conditions with confidence and agility. Workday ranks

Zeynep K.
ZK
Adaptive Insights software is great software for budgeting process. It definitely helps to reduce the labor and complexity of budgeting process.... Read review
UC
The best thing about Adaptive is the ability to create reports online and also in OfficeConnect (an add-in) to be able to share budget, actuals,... Read review
(131)4.4 out of 5
Optimized for quick response

Your business is evolving. Your systems should evolve too. Achieve your goals more successfully with Prophix’s innovative Corporate Performance Management (CPM) software. Improve profitability and minimize risk when you automate repetitive tasks and focus on what matters. Budget, plan, consolidate and report automatically. Whether in the cloud or on-premise, Prophix supports your future with a platform that flexes to suit your strategic realities, today and tomorrow.

SS
The software is intuitive and user friendly. I can inquire about a particular feature and support will walk me through the process. When I need to... Read review
AI
Software is very easy to administer, flexible to use and very intuitive for both administration & end users alike. Prophix lets you create great... Read review
(55)4.6 out of 5
Optimized for quick response
Entry Level Price:$250 Month

Looking for a way to save time managing your strategic plans, strategy maps, KPIs, initiatives and dashboards? ClearPoint has your back! We are a web-based Balanced Scorecard, dashboard, and performance management software solution. You can easily manage your strategic plans, strategy maps, KPIs, initiatives and dashboards- tools that leadership teams rely on to make more accurate decisions and use to ensure accountability and follow-through. Cut down your long hours with our automated upload, n

AG
The ClearPoint team is phenomenal. I know that I can call or email anytime, with any question, and I will always receive excellent customer service... Read review
AG
ClearPoint Strategy is really intuitive - both from an and end-user and as the administrator. I also really like that the product is self-contained... Read review
(58)4.2 out of 5
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Jedox is a flexible enterprise performance management platform that simplifies budgeting, planning and forecasting for fp&a, sales, human resources and other departments. Improve data quality and optimize planning processes with the intuitive, cloud-based tool which is optimized for use with Microsoft Excel. A unique combination of flexible BI and planning capabilities provides analytics, dashboards and management reporting. The powerful multi-dimensional modelling engine enables non-technic

II
- easy and fast implementation - has a very good Excel integration, but can also be used in the web - the suite covers the whole cycle from... Read review
CC
Combination of powerful functionality and ease of use. Read review
(20)5.0 out of 5
Optimized for quick response

Jirav is the next generation of business planning software. Our all-in-one Budgeting, Forecasting, Reporting, and Dashboarding solution offers faster implementation and a more intuitive interface at total cost that better meets the needs of businesses between 5 to 500 employees. Jirav offers the fastest time to value through native integrations that help to automatically connect in minutes to systems including NetSuite, Intacct, QuickBooks, and Xero so you can start planning right away.

IA
Ease of use and visuals for showing my clients Read review
(10)4.6 out of 5

Align people, plans and performance data to achieve your goals. Envisio helps you to deliver your plans, align staff with your strategy and manage the expectations of your different stakeholder groups. Cascade your strategic goals into actions to get total visibility over progress. Use automated reminders, checklists and reports to keep your team on track. Use intuitive management reporting and analytics tools to easily understand performance and communicate results. You can even share your pr

NR
Envisio allowed us to do an easy and quick transition to automated planning software by replicating our existing template. The Envisio team is... Read review
UB
I love how it helped me automate my reports Read review
(7)4.6 out of 5

Kepion began in 2009 on a mission to provide a simplified approach to financial planning and reporting solutions for companies of all sizes. We recognized early on that many companies today cannot effectively plan, budget, forecast using traditional spreadsheet solutions. As a result, Kepion decided to move beyond spreadsheets and to the web. Since then we have been making tremendous progress in delivering our mission to our customers and partners. We continue to satisfy customer requirements u

Nicolas V.
NV
The flexibility and agility to model every business process related to budgeting and forcasting Read review
KZ
Great Product team with loads of knowledge. Nice web interface and super fast deployment and development capacity. Read review
(3)5.0 out of 5

MODLR enables agile enterprise-wide collaboration and provides an evolving range of solutions to improve integral business processes. Each solution can be customised and tailored to the preferences of individual companies. With the ability to streamline reporting, forecasting, budgeting and more, MODLRs aim is to make financial planning as simple and efficient as possible.

UM
We've used MODLR for a number of clients to help with their annual budgeting, forecasting and analytical modelling needs. We have managed to... Read review
CM
We've used MODLR internally and with our clients across a number of use cases (eg. annual budgeting, forecasting, cashflow planning). Transferring... Read review
0 ratings

Unlock your data and unleash your performance. Catalyst is powerful, cloud-based business performance software that is designed to accelerate your profitability. Reporting, Planning, Budgeting and Forecasting have never been this simple. Catalyst allows you to easily slice, dice, drill down and pivot enormous amounts of granular data instantaneously to get a complete picture of your business, find anomalies, draw fully-baked insights and make fact-based decisions that positively impact your bus

0 ratings

Flexible analysis, reporting and planning for small to medium companies.

0 ratings

PivotXL is an innovative provider of complete Corporate Performance Management (CPM) solutions. PivotXL combines a centralized database, sophisticated workflow, powerful reporting and best of all full built on-top of Excel to create a cloud-based financial planning and analysis (FP&A) solution. Unlike traditional software that replaces Excel with rigid with non-user friendly applications, PivotXL allows you to stay in excel and helps finance professionals to get trusted numbers.

0 ratings

Quorso simplifies your data into 3 top-priority daily actions (we call them ‘Missions’) for every store, guaranteed to engage teams, increase Sales and drive KPIs. Then helps teams launch their Missions, measures the impact and scales the ones that work. Most retail management tools either analyze and visualize data for the center (BI, Retail Analytics), or give task checklists to store teams for compliance (Task Management). Only Quorso does it all. First it crunches and simplifies your data

Top 10 Free Corporate Performance Management (CPM) Software in 2021

  • Workday Adaptive Planning
  • Prophix Software
  • ClearPoint Strategy
  • Jedox
  • Jirav

Learn More About Corporate Performance Management (CPM) Software

What is Corporate Performance Management (CPM) Software?

Corporate performance management (CPM) software manages the strategies that large companies use to monitor the performance of their business activities. CPM software is used to create and implement methodologies and processes, allowing corporations to track key performance indicators (KPIs) relative to corporate business objectives. This type of software is implemented across the corporation and is used by managers and executives responsible for improving the business performance of the company. 

In some cases, CPM software may only be deployed by accounting departments to analyze financial performance and track the profitability of a company. While that is still the primary focus of most CPM solutions, tracking performance has been extended to most departments of a company, from sales and marketing to operations and IT. This type of software should not be confused with business intelligence (BI) software, which provides generic analytics features that are not always focused on business performance. Many BI providers also deliver KPIs or metrics for corporate performance, either as part of their core offering or as separate solutions and add-ons.

What are the Common Features of Corporate Performance Management (CPM) Software?

The following are some core features within CPM that can help users create and achieve goals, forecast costs and revenues, and create and measure KPIs.

Corporate goals and objectives: Company goals need to be detailed enough to be relevant but also easy to communicate and understand. It is essential that objectives are measurable and realistic, which requires a lot of business data and feedback from employees and executives. CPM software provides prewritten goals (revenue, profit, sales quotas, etc.) for all departments, such as sales, accounting, HR, or procurement. It also allows users to customize them according to their requirements. Objectives can also be categorized and aligned to ensure that the entire company has the same goal in mind.

Strategic planning: Strategic planning involves defining and implementing what needs to be done to achieve corporate objectives. Strategic plans are used for long term projects, such as mergers and acquisitions, capital investments, restructuring, or expansion into new markets, that are intended to transform the company. Since these projects are costly and crucial, strategic planning leaves little room for error. CPM software provides features to create strategic plans and adjust them periodically to take into account any changes in the company and its environment.

Forecasting: CPM helps forecast future costs and revenues for business operations and strategic plans by pulling data from multiple sources, such as sales data, income and cash statements, and budgets. To function correctly, a company needs to have an idea of what resources it needs and how many sales it can generate to be profitable and support future growth. For strategic planning, costs can be very high, which is why it’s crucial for executives to understand how much they need to invest. The results of strategic planning are only visible in the long term, which is why it’s important to estimate them before making costly investments.

Corporate KPIs: KPIs and metrics are used to track actual results and compare them

with what has been forecasted and planned. Metrics are critical for companies to understand how successful they are, what business areas need to be improved, and how future performance can be optimized. CPM software includes prewritten or industry-specific KPIs and features to monitor them at all levels in a company.

What are the Benefits of Corporate Performance Management (CPM) Software?

CPM software can help by improving employee productivity, increasing revenue, and sustaining company growth.

Improved productivity: Although CPM software includes monitoring employee satisfaction and retention, sometimes, its main focus is improving communication throughout the organization, aligning and executing organizational strategies to improve productivity for the company as a whole. This is done by streamlining workflows and identifying problem areas that need improvement.

Increased revenue: Using CPM software allows companies to align with their strategic priorities and focus more on KPIs, as well as other business metrics that must be maintained to improve sales, revenue, and profits. Finance teams can use CPM software to develop cost and revenue modeling to help them understand the implications of their forecasted numbers.

Data automation: CPM software can streamline and automate the collection, aggregation, and reporting of real-time data from multiple sources, with consistency and increased accuracy, providing faster results with shortened period-end closes. CPM software utilizes information from one source and improves data security with the numbers produced from it.

Who Uses Corporate Performance Management (CPM) Software?

Accounting professionals: Accountants use CPM software to monitor and improve financial performance. It helps accountants compare budgets with actual expenses and revenues at different levels of the company. Accountants also use CPM software to create forecasts for future revenues and corporate expenses and identify opportunities to reduce costs and improve profitability.

Department managers: Managers of any department benefit from using CPM software by tracking the business performance of their own departments. Each department has specific goals and metrics that need to be aligned with the other departments and the overall objectives of the company. CPM software allows managers to budget for future expenses, identify discrepancies between expected and actual revenues, and understand how their operations impact the efficiency of the other departments.

Executives: Executives use CPM software for strategic planning and to oversee performance at the company or group level. When required, executives also need to be able to drill down to find details on metrics and transactions, that had an impact on corporate performance.

Software Related to Corporate Performance Management (CPM) Software

CPM software often complement or are often used in conjunction with the following tools:

ERP systems: Enterprise resource planning (ERP) software provides a lot of the information used by CPM systems but also uses performance analysis data to optimize operations managed by the system. For instance, forecasts generated using CPM are used in ERP to determine the production capacity or the quantity of raw materials needed to supply the demand. ERP also helps compare estimates with actuals and identify discrepancies between forecasts and outputs. These discrepancies will be used in CPM to optimize forecasting and create performance objectives with increased accuracy.

Accounting software: Accounting and finance software provides the financial information required to monitor the profitability of the company. It also helps create and manage budgets, which need to be aligned with corporate objectives. This is particularly important because companies can only function within the confines of their financial limitations. Executives and managers may have ambitious plans to improve performance, but may not have sufficient funds to implement them.

Business intelligence software: BI software can be used to replace CPM software for companies with basic needs. It can also be used to gather, clean, and prepare all the data used to monitor and improve performance. Most CPM vendors provide features for integration with BI and data management software to provide a high level of data accuracy.

Financial consulting providers: Financial consulting service providers can help companies define and implement performance metrics and KPIs that are specific to their operations or their industry. Consultants can also assist companies with determining strategic and contingency plans or improve their forecasting and budgeting processes. Large financial consulting firms also provide benchmarking services based on consolidated data from thousands of customers. Benchmarking can be very useful for companies to compare their performance with their peers or competitors.

Challenges with Corporate Performance Management (CPM) Software

CPM software solutions can come with their own set of challenges. 

Complexity: CPM software can be challenging to implement and maintain. Consolidating and analyzing different types of corporate data can be difficult and requires ongoing management and processing. Some CPM solutions are made of multiple products or solutions, which need to be integrated with each other and with other software such as ERP systems or accounting.

Data accuracy: CPM software uses large amounts of data from multiple systems, which is why the information must be accurate. Accuracy can be a challenge when companies use various software systems and data sources of structured and unstructured data. Data duplication is another challenge, which can be caused by double entries in multiple systems used by different departments for different purposes.

Implementation: CPM software is often technical in an accounting or finance sense and it would be beneficial for companies to have employees with accounting or business experience when implementing this software. 

Which Companies Should Buy Corporate Performance Management (CPM) Software?

The functionality that CPM software provides can be beneficial for businesses across a variety of industries. As CPM software monitors and manages financial and operational performance to set and meet corporate goals, any organization that has an internal accounting or finance team can benefit from purchasing this software.

How to Buy Corporate Performance Management (CPM) Software

Requirements Gathering (RFI/RFP) for Corporate Performance Management (CPM) Software

When selecting CPM software, it is important to look at how a business operates, and familiarize oneself with the different types of software available. Users should make sure the CPM vendors in their list have prebuilt integrations to their ERP system. Ideally, one which provides connectivity to the general ledger tables so users can report, drill down, and budget according to their requirements.

Compare Corporate Performance Management (CPM) Software Products

Create a long list

The buyer is advised to create a long list of software that is designed to help businesses in their industry. For example, there might be platforms specifically built for businesses in retail, manufacturers, restaurants, as well as for many other types of commercial organizations. Another factor to consider when creating this list is whether the software is cloud based. CPM solutions are generally easier to manage in the cloud, with automated reporting tools upgrades, frequent releases, and user-friendly interfaces.

Create a short list

After reviewing and researching the software on the buyer’s long list, they can cut down the list based on their budget. CPM software is available to suit all budgets and some general CPM applications may be downloaded for free or bought at a low price. However, more specialized software is generally more expensive. It’s because the user base for specialized software is relatively small. If the buyer wants something specific to their industry or customized for their company, they would have to pay more.

Conduct demos

Companies should make sure to demo all of the products that end up on their short list. During demos, buyers should ask specific questions related to the functionalities according to their priorities. They should also communicate key objectives and critical needs to vendors and demand that these be covered in software demonstrations.

Selection of Corporate Performance Management (CPM) Software

Choose a selection team

The employees who will be using this software must be involved in the selection process. It may be preferred that the software chosen is compatible with the ones they currently use. Every business is different and the end users are most likely in the best position to offer an educated opinion about which one is the best choice for their particular needs. They may even be able to help the buyer install and set up the software of choice.

Even after purchasing software, most platforms allow for addons or modifications. However, choosing the right software is still important as it is still a big commitment of time and money. To see solid ROI, buyer’s can’t change their minds a few months later and switch software again.

Negotiation

Negotiating a software contract is important to minimize risk, whether it is in terms of performance protection, security protection, or simply making sure that both parties are in complete agreement on their expectations. The buyer has the option to ask for a discount in return for annual upfront payment, and many software providers are usually happy to make that deal. Usually, some implementation services will be included in a software provider's first offer. The buyer can ask for these services to be removed. Also, if the company will use the software for a long time; they can negotiate longer terms, which often results in more favorable pricing.

Final decision

The final decision should be based on all the information gathered previously. Buyers must prioritize their needs and select a solution that meets most of their requirements. It is recommended to run a pilot program to test adoption with a small sample size of users. If the tool is well-used and well-received, the buyer can be confident that the selection was correct. If not, it might be time to go back to the drawing board.