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How important is it to make sure our CPM tools are up to date?

CPM tools can be very beneficial to organizations. And what matters most isn’t the version of your CPM software but how you use it, says a corporate performance management expert.

As part of our corporate performance management program, is it important to make sure that the CPM tools we’re using are the most up-to-date edition out there? Are there any major benefits to upgrading to the current release?

The version of the CPM software is not the point; what matters is the use of your CPM tools as they apply to the people and processes within your organization. Of course, new versions of performance management software can enable significant time savings in doing business reviews and analyses or provide insights that you could not get through a traditional analysis of historical data but can when using forward-looking predictive analytics capabilities. Before you decide to upgrade, each version of the software should be evaluated from an overall efficiency and effectiveness perspective in the categories of time savings, cost avoidance and reduction, risk mitigation and benefits achievement.

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