What Does Business Performance Management Mean?
Business performance management (BPM) is a form of business intelligence used to monitor and manage a company’s performance. Key performance indicators (KPI) are used for this purpose. These KPIs include revenue, return on investment, overhead and operational costs.
Business performance management is also known as corporate performance management (CPM).
Techopedia Explains Business Performance Management
BPM allows companies to collect data efficiently from various sources, analyze it and use this knowledge to improve the company’s performance. BPM also allows problems to be identified before they have a chance to grow and spread into other areas of the company. Finally, it can be used to make more predictable and reliable forecasts. Continuous and real-time reviews of data are used in the BPM process.
Business performance management software has traditionally been used within finance departments, but it is now being adopted by various enterprises as a component of their business intelligence.