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Performance management: enabling smarter business; BPM solutions involve a closed-loop planning process that synchronizes modeling, measurement, adaptation and results-driven re-modeling. While understanding this concept is easy, its effective application can be more challenging.(bpm)
- Article from:
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Financial Executive
- Article date:
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September 1, 2005
- Author:
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Copyright informationCOPYRIGHT 2005 Financial Executives Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A powerful combination of forces--including global competition, investor scrutiny and new regulations--is forcing executives to rethink how they systematically monitor and manage business performance. As the executive chair becomes a hot seat, performance management is gaining increasing attention.
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Littered with its fair share of acronyms--CPM, BPM, EPM (for corporate, business and enterprise performance management, respectively)--a variety of software solutions have emerged, all striving to exemplify the benefits of an effective planning process, improved visibility, more accurate information and better, faster decision-making.
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