What We Learned About Corporate Performance Management from Customers

Prophix Annual User Conference 2016

Prophix recently held its annual User Conference, an event designed to ensure users get the most out of their software investment through education and networking with their peers and with Prophix pros. While the Prophix team was busy hosting seminars and workshops, we learn from our customers about the real issues in finance; this is how Prophix makes better products and featuresHere are some examples of the lively discussion about corporate performance management:

CPM – not just for finance anymore

CPM can help finance to empower other groups, thereby increasing their impact on the organization.
An example of this approach is marketing performance management, a process that involves the targeting, planning, reporting and forecasting of both marketing budget inputs and marketing performance outcomes with the ultimate goal of being able to deliver revenue-driven marketing and optimize return on investment.

Easy is as easy does

Finance professionals tell us that they need easy to navigate systems to allow integration across other lines of business, especially for non-finance users. Financial data should not be complicated and should be presented in a format that is clear and insightful. As consumers we thrive on apps; users should expect financial software to be just as intuitive and easy to use as a favorite app on your smartphone.

Seeking support and training

It is a common theme; your organization invests in a new software solution, but the lack of ongoing support and availability of training leads to ‘sits on the shelf’ syndrome. Alternatively, the primary admin user in the company moves on, and nobody has the expertise to use the system.

At the conference we overheard a longtime user who has attended many Prophix conferences, telling a new Prophix user and first-time conference attendee the importance of ongoing training and leveraging the Prophix Academy for continuous learning. Thank you to our loyal customer, we are grateful for the kind words!

Change is changing

The pace of business change is rapidly accelerating, which means companies require the ability to adjust their plans on the fly to take advantage of growth opportunities. Having a clear insight into the performance and financial health of your company is essential. This was a hot topic at the conference. How can Finance professionals convince upper management to invest in the human and technological resources to help drive the business forward?

Prophix’s COO, Alok Ajmera noted in his general session presentation that Finance is uniquely qualified to be the source of insight and strategic recommendations because finance people are naturally analytical, very data savvy and can be neutral participants in business decisions.

If you are interested in joining the conversation about corporate performance management, share your thoughts in the comments section. You can also see pictures from the User Conference here and Rodeo night here.