SAP BPC roadmap: Modernizing your CPM technology for the digital age
Building a clear roadmap for SAP BPC replacement is essential. But what capabilities should you look for in your next CPM solution?
SAP BPC is quickly reaching its end of life. This pivotal moment in the CPM landscape urges current BPC customers to consider a strategic shift towards a modern CPM solution that can truly empower them in the digital age. Building a clear SAP BPC roadmap and choosing the right replacement solution is key to ensuring your core financial processes are optimized for the evolving needs of your business for years to come.
Building a clear roadmap for SAP BPC replacement is essential. But how to find the right solution for your organization? What does the evolving CPM technology look like today? And why is updating your CPM solution now the right move?
The imperative for change
As technology evolves, so does the need to adapt and innovate. SAP BPC has been a reliable companion for many organizations over the years, helping them manage financial planning, budgeting, and consolidation processes. However, the evolving dynamics of business and technology have highlighted several key reasons why it's vital to update to a modern CPM solution:
- Agility in decision-making
- Enhanced collaboration
- Scalability and flexibility
- Data integration
1. Agility in decision-making
In the digital age, agility is paramount. Businesses need to react swiftly to market changes and seize new opportunities. Modern CPM solutions offer real-time data analysis, predictive analytics, and scenario modeling capabilities that are built with the intention of empowering decision-makers with the insights they need when they need them.
2. Enhanced collaboration
Traditional CPM tools may lack collaboration features, which might lead to disjointed workflows and version control issues. Modern CPM solutions generally prioritize collaboration, enabling teams to work together regardless of their geographical locations. This fosters a culture of collaboration and data-driven decision-making.
3. Scalability and flexibility
As businesses grow, their CPM needs evolve. Modern solutions are designed to be scalable, allowing organizations to adapt easily to changing requirements. Whether you're a small startup or a large enterprise, a modern CPM solution can accommodate your needs without major disruptions.
4. Data integration
Today's businesses rely on data from a multitude of sources. A modern CPM solution can integrate with various data repositories, ERP systems, and third-party applications. This feature provides a more unified view of financial data, leading to a reduction of manual data entry and limiting the risk of errors.
What does Modern CPM solution look like?
So, what should organizations look for in a modern CPM solution? Here are some key functionalities:
- Artificial intelligence and machine learning (AI/ML)
- A unified approach to corporate performance management
- Collaboration tools
- Futureproof technology
1. Artificial intelligence and machine learning (AI/ML)
Decision intelligence: Modern CPM solutions leverage AI and machine learning to transform financial data into actionable insights. These technologies aim to predict trends, identify outliers, and automate routine tasks, potentially allowing finance teams to focus on strategic analysis and maximize their technology ROI.
2. A unified approach to corporate performance management
A single source of truth: A modern CPM solution, like CCH® Tagetik, offers a unified platform that seamlessly integrates financial planning, budgeting, forecasting, and consolidation. This consolidation of CPM processes is aimed at streamlining operations, reducing data silos, and fostering a holistic view of financial performance from a single source of truth.
3. Collaboration tools
Empowering teams: Strategic collaboration is no longer a luxury but a necessity as many teams work together remotely. Modern CPM solutions provide collaboration tools that help enable finance teams to work together with real-time updates and in-system commenting. This leads to a culture of data-driven collaboration and may help keeping everyone on the same page, even if they’re not in the same office.
4. Futureproof technology
Staying ahead: The digital age rewards those who strive to stay ahead of the curve. Modern CPM solutions are built with the intent of providing futureproof technology that has the potential to scale and adjust as your business grows. This architecture of scalability and accessibility can simplify infrastructure management so that your finance function can be ready for future challenges.
Building your roadmap
So, what’s next?
Here's a complete list of next generation CPM capabilities you should be looking for as you prepare for SAP BPC’s end of life: