PROPHIX CPM Blog

Coleman Cable: Making Better Business Decisions with CPM

Published September 20, 2010 @ 14:06 by Vinita in Best Practices

Let's face it: budgeting and planning with Excel is time consuming and cumbersome. Comparing data to previous years and manipulating data is difficult and inefficient. And usually, the data ends up being inconsistent or worse—wrong.

It doesn't have to be this way.

Using a performance management application will help make your business operate more efficiently—something that is especially important in a down economy.

Illinois-based Coleman Cable is a real life example of how a company was able to make better decisions by using CPM software.

One of the main challenges for Coleman Cable was making changes to plans and budgets in Excel because it hampered the ability to respond quickly to changing business situations.

"Making structure changes and last minute updates that affect the consolidated totals was very challenging," explains Denise Feece, Director of Planning and Analysis. "The Excel templates were error-prone and we were likely to experience other typical spreadsheet issues."

For Coleman Cable, the benefits of using CPM software included:

• Better ability to manipulate data and perform comparisons
• Ability to produce consistent reports which makes it easier for business users to find the data they need
• Reduced report update and distribution time by 98% (10 min vs. 10 hours)
• Centralized repository for all data allows all end users to access the same data

Coleman Cable now makes better business decisions with CPM, and you can too. Learn more by downloading the Coleman Cable case study and learn how you can successfully apply these best practices within your organization.

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