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Business Case - Adopting CPM with Excel in the Cloud

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The Biggest Risk of Failure: "Export to Excel" As the business case for corporate performance management is built, it is important to understand that arguably the biggest risk to user adoption and data integrity is the "Export to Excel" functionality provided with most CPM or ERP systems. Excel is the most used business application in the world with an estimated 750 million users, and its ubiquity is a real threat to any CPM deployment. Unofficially supplementing a CPM system with Excel in this way means that a shadow process runs in parallel with the official CPM system, resulting in reduced process control, data integrity and other benefits. Many CPM vendors have tried to address this issue through "Excel- like" functionality, but the high rate of continued Excel use means this approach hasn't worked. Companies therefore need to take this risk into account when selecting, deploying, and especially rolling out a CPM system. Vena turns Microsoft Excel into an enterprise-class business solution with a centralized database, workflow and more. With Vena, you get trusted numbers and insights - fast - while still using Excel. Conclusion This document has focused on the benefits of cloud-based CPM solutions within the finance department – and these benefits are immense. From the rapid payback and high return on investment to the big reductions in cycle time - cloud-based CPM solutions are a clear winner over standalone Excel processes. And those that incorporate native Excel as their interface offer even greater benefits. There is no reason, however, why these benefits should be limited to Finance. Line of business managers who oversee any Excel-based process that requires extensive data collection and collaboration with regular reporting and analysis would benefit from performance management solutions. Readers should look for opportunities to extend their CPM solutions to these and other processes to make their business case even more compelling. Biggest Risk: 83% of companies use Excel to supplement their CPM system U N I T E D S T A T E S | C A N A D A | U N I T E D K I N G D O M | N E T H E R L A N D S | S O U T H A F R I C A | A U S T R A L I A @venasolutions 1 855 207 1770 info@venasolutions.com venasolutions.com " CPM isn't just for accountants anymore. We're seeing broader use throughout organizations which in turn is leading to greater adoption rates. -Nucleus Research " Mitigating the Biggest Risk: Deploy a CPM solution that uses native Excel as its primary interface (and not an "Excel-like" interface) so that exporting to Excel isn't necessary

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