G2, a leading software review platform, ranked LucaNet as a market leader in its Summer 2020 rankings for best Corporate Performance Management (CPM) software. Earlier in 2020, LucaNet was a “Top Performer” on G2’s competitive grid for CPM and despite the Covid-19 crisis, LucaNet’s rankings continued to improve.
In summer 2020, LucaNet found its place among the world’s top CPM vendors in the G2’s CPM Software competitive grid. This feat is thanks to the high satisfaction ratings LucaNet has received from its customers.
Read how LucaNet became one of the best CPM companies and how exactly a top CPM software helps your finance department.
What is a CPM software?
CPM solutions measure financial and business performance of organizations. Top CPM software helps small, medium-sized and large companies in tracking corporate business objectives and processes with the help of so-called KPIs. KPIs (or key performance indicators) are relevant to the respective corporate business strategy and encompass different categories of business metrics, for example:
- Yearly profit
- Costs per lead per channel
- Sales-accepted leads
However, it is difficult to provide a concrete definition of CPM. The term is to be found in a complex and comprehensive network of different theories and approaches. Additional terms such as the following reinforce the non-uniform points of view encountered in the specialist discussion.
- Enterprise Performance Management (ERP),
- Business Performance Management and
- Business Intelligence (BI)
In the context of G2, CPM represents an approach that combines all processes of strategy development, planning, forecasting and financial consolidation. A top CPM software for finance then is the means necessary to implement performance enhancements and consequently achieve these goals.
By using such a CPM software, you can determine the potential for reducing costs as well as implement process optimizations based on the collected data. The deployment of a CPM software can be either on-premise or in the cloud.
Comparing top CPM software
LucaNet achieved its placement as a market leader in a highly competitive grid in less than 6 months. LucaNet’s customer ratings are resulting in a 4.8 score. Therefore, LucaNet appears very high – in the top 10 – in G2 search results and therefore is rated as one of the top CPM software among its competitors.
G2 aims at delivering unbiased reviews for a variety of high-performing software to facilitate the business technology purchasing process. Consequently, paid placements in any of their ratings, rankings or reports is not allowed.
With its headquarters in Chicago, G2 revolutionizes the way business discover, purchase as well as manage software and services. With several million visitors a month, G2 helps buyers to read unfiltered and unbiased reviews as well as sellers to get their software or service in front of millions of monthly buyers.
How a top CPM software helps your finance department
LucaNet’s top-ranked CPM software offers everything for your finance teams. Financial consolidation, financial planning, reporting, and data collection are all error-prone processes, which LucaNet’s top CPM software for finance easily automates, and therefore helps you make the right decisions for your company.
Below we list three of the most important benefits of a top CPM tool according to G2:
1. Single source of truth
One of the most important steps for making efficient decisions as well as guaranteed error-free reporting and controlling is to have access to well-structured information. However, if you have information distributed across several systems and your subsidiaries use a variety of tools and software, then it is necessary to have a central repository for all your data.
Having one central database in place, will allow your finance teams to spend less time in gathering data and more in using the time to analyze it. Ideally, this data is visualized via dashboards, which also serve as a means for management and the leaders of your organization to access relevant information at the push of a button.
2. Business processes alignment
With a top CPM software for finance, companies will be able to ensure that all departments have consistent objectives which are aligned to the goals of the overall company. Business processes alignment can be achieved in two different ways, namely the top-down and the bottom-up approach, which are explained as follows.
- Top-down approach: Overall company objectives are defined first, and the separate departments then define goals which are aligned to the overall goals of the company.
- Bottom-up approach: In contrast to the top-down approach, relevant operational as well as financial data is derived from the respective departments. Afterwards, the collected data is used to be consolidated at a company level.
3. Strategic planning and team collaboration
Some CPM software vendors include strategic planning in their offerings, which enables companies to create and implement long-term business plans. This not only helps with establishing new subsidiaries throughout the world, but also can be critical to drive investor decisions.
Additionally, a top CPM software for finance improves communication between different departments of your company. By allowing a wide variety of team members to engage with each other, it facilitates collaboration amongst your staff.
The benefits of LucaNet’s top CPM software for finance
These are some of the reasons for why LucaNet is one of the best CPM software for finance according to G2:
- Harmonized corporate performance management: With our top CPM software for finance, you will get a holistic view of your financial data.
- 100 % traceability: With a single click, LucaNet’s top CPM software for finance gives you a comprehensive view of both your internal as well as external accounting. Within our CPM tool for finance, you will find all past as well as future data used for forecasting.
- Maximum automation: Automation is the heart of our top CPM software for finance. Finally, focus on your day-to-day business to make the best decisions for your company.
- Global availability for your financial data: If you decide to choose LucaNet’s top CPM software for finance, you will be able to access the software via the LucaNet.Cloud. Thus, you can easily save your data in a virtual private cloud and achieve maximum security. However, if you prefer managing the software on your own, you can also maintain the on-premise solution yourself.
What our customers think of LucaNet’s top CPM software for finance
“I’m very impressed with LucaNet as a product. 90% of what I’ve done, I have been able to figure out myself. The reporting capabilities are excellent, and, in my opinion, the end result is world-class reporting capability.”
Mark Pritchard, Chief Financial Officer Data-Mail, Inc.
“Financial data that are 90% more transparent – this is our new reality thanks to LucaNet. We see the benefits every day in our finance department. We save on costs, time, and nerves, and now again have complete faith in our financial data.”
Ulrich Leib, Head of Controlling Toshiba
Following the past two years, we´ve got another reason to celebrate in 2020: The BARC Score has once again named LucaNet its market leader!
In BARC The Planning Survey 21, LucaNet once again shines as a high-performance vendor in the field of integrated financial planning. A look at the most important results of the study.