The Race to Embrace Cloud-Based CPM Is Accelerating Quickly

Fresh data on adoption and use case scenarios for business intelligence software indicates we’re reaching a tipping point away from on-premise deployments and towards a complete embrace of cloud-based CPM.

You have to crawl before you can walk, but eventually, we all learn how to run. That’s not a bad metaphor for the way companies are moving towards corporate performance management in the cloud. There’s evidence that a number of firms are already starting to sprint. 

Just last month, the Business Application Research Center (BARC) and independent market research firm Eckerson Group released ‘BI And Data Management In The Cloud: Key Issues And Trends.’ Based on a survey of nearly 400 people across North America, Europe and Asia, the report shows cloud migration of BI tools and functions has grown at a steady clip.

“It is faster to deploy and it is easier to maintain because of the persisting updating model. You turn over the job to the vendor of keeping software up to date. That is compelling for a lot of companies.”

More than three quarters of respondents, or 76%, said they had already moved reporting to the cloud, while 57% had done the same thing with ad hoc analysis. Maybe even more promising were that companies have planned for their future in the cloud. Check this list and see what they have in common:

  • Advanced planning and analytics 53%
  • Operational planning/forecasting: 44%
  • Strategic planning/simulation: 44% planned

The answer, of course, is that these are all CPM-related use case scenarios. Here’s what the authors concluded:

Not surprisingly, the vast majority of organizations use the cloud to deliver reports and dash- boards. The cloud is a convenient way to publish and share report output to a broad, geographically distributed user base. However, more than half use the cloud to perform ad hoc analysis and author reports and dashboards. That suggests organizations use software-as-a-service (SaaS) BI products and don’t just publish output there.

BARC and Eckerson Group aren’t the only ones keeping an eye on this shift. An article on TechTarget recently examined data from Forrester Research. One of Forrester’s analysts, Paul Hamerman, predicted SaaS will be the primary deployment model for CPM (or enterprise performance management/EPM, as some call it).

“Hamerman said EPM is well-suited to deployment in the cloud, largely because of its regular updates by the vendor and its versatility,” the article said. “It is faster to deploy and it is easier to maintain because of the persisting updating model. You turn over the job to the vendor of keeping software up to date. That is compelling for a lot of companies.”

So compelling, in fact, that this may be the year companies not only stop crawling but stand up and start running more quickly to the cloud than ever before.

The post The Race to Embrace Cloud-Based CPM Is Accelerating Quickly appeared first on Blog | Vena Voice | Vena Solutions.

About the Author

Rishi Grover

As Chief Solutions Architect, Rishi is responsible for the day-to-day operations and continued success of client implementations at Vena. Rishi has helped many Fortune 500 companies re-engineer and optimize financial processes. His expertise in financial planning and regulatory reporting helped him to the position of Director of Enterprise Solutions at Clarity Systems before he co-founded Vena Solutions with Don Mal and George Papayiannis. Rishi holds a Bachelor of Applied Sciences from the University of Toronto, specializing in Computer Engineering and Communication Systems.

More Content by Rishi Grover
Previous Article
The Macro and Micro Factors Influencing CFO Leadership Styles in 2017
The Macro and Micro Factors Influencing CFO Leadership Styles in 2017

Yes, the job of a CFO has never been tougher, but there are already signs of what success could look like. ...

Next Article
You May Be More Prepared For Rolling Forecasts Than You Think
You May Be More Prepared For Rolling Forecasts Than You Think

While some research suggests other priorities are preoccupying CFOs, other experts suggest scenario plannin...

×

Advanced Insights for the Advanced CFO JOIN THE CFOs PLAYBOOK

First Name
!
Thanks for Joining the CFOs Playbook
Error - something went wrong!