What is a KPI, and Why are They So Important?

This article originally appeared on the Covalent Software blog.

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidationKey Performance Indicators (KPIs) are the backbone of business. They are the used by managers, leaders, and executives to help them understand whether their business is on the right track for success, and, if it’s not,  more easily identify where to make improvements and focus more attention.

For public sector organisations, KPIs confirm standards they need to meet to gain budgets.

The aim of a KPI is to bring about improvement.

But with the amount of data that businesses and organisations generate, it is important to choose the right measures and indicators. With that in mind, KPIs must be aligned with the overall company strategy and objectives.

Get them right and business performance will improve.

Get them wrong and you can drive behavioural change that focuses on delivering results on a specific measurement that has no overall positive impact on the business.

But really, what is a KPI?

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Infographic: Finance Leaders Prepared to Embrace Benefits of Cloud Technology

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidationOur recent survey of more than 300 finance professionals worldwide yielded very interesting results about how these financial leaders prepare for and react to the most pressing factors that are impacting their businesses. The underlying verdict? Corporate finance teams are ready to embrace modern finance technology to gain greater control, boost efficiency, and save money at the same time. Check out our infographic below for an intuitive look at our survey results.

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Product Tip Tuesday: The Value of Adaptive’s New Training & Certification Program

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidationYou asked for it, and Adaptive has delivered! We’ve launched training courses covering each product within the Adaptive Suite and a certification program to help you become an Adaptive expert. Here’s why completing Adaptive certification is beneficial for you, your broader finance team, and your entire business – and how the new training courses help you prepare for certification.

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Fake Cloud Vendors are on a Catastrophic Course – and their Customers are Riding Shotgun

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidationIn outlining the 4 warning signs of fake cloud solutions in my last blog, I left out one key point: The same catastrophic course that the fake cloud plots for both the vendors, and their customers. Over the last 10 years, I’ve seen vendor after vendor, take the eerily similar, ill-advised, three-step path to fake cloud catastrophe.

Once they embark on the fake cloud path, these vendors are on a direct path to failure. So what is the path that every fake cloud vendor (and their customers) almost inevitably follows? It goes something like this…

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Wall Street Journal Recognizes 6 Adaptive Customers in “BIllion Dollar Startup Club”

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidationReaching a billion dollar valuation means entry into an exclusive club for private tech startups; one that The Wall Street Journal and Dow Jones VentureSource closely track to put together their “BIllion Dollar Startup Club” members list.

There are three main criteria for membership:

  1. Must be privately held tech company
  2. Must be valued at $1 billion or more with at least one venture capital firm as an investor
  3. Must have raised financing within the past three years

The latest list includes 30 tech startups worldwide, six of which are Adaptive Insights Customers; yet another sign that the fastest-growing, most innovative companies are using the Adaptive BI & CPM suite to manage and grow their businesses. Here’s a look at the six Adaptive customers in the Billion Dollar Startup Club.

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The New Role of Modern CFOs

Guest blog by Daniel Caringi, National Solutions Manager, BDO Canada LLP Solutions

More than simply managing numbers, today’s CFOs are playing a pivotal role in the strategic decision-making process for their businesses.

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidation, Daniel Caringi, BDO Canada LLP SolutionsTo help illustrate the above statement, FEI Canada released a survey in May, 2014, titled “Branding the CFO“. In this survey, finance leaders across Canada share their views and priorities in helping to manage the business.

Of particular interest in the report is the impact technology is making when it comes to helping finance leaders gain visibility into overall business performance. It’s clear that today’s CFOs need to understand how technology, specifically Corporate Performance Management (CPM) technology, can help them excel in their new, strategic roles.

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Product Tip Tuesday: How To See Through The Fake Cloud SaaS-Querade

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidationWe take a unique spin on Product Tip Tuesday this week, focusing more on the BI & CPM industry as a whole to help business leaders identify and avoid fake cloud solutions.

Legacy on-premises providers are feeling the heat, as more and more businesses worldwide continue to migrate to the cloud for added agility, greater collaboration, and faster data analysis.

This current cloud momentum has left many legacy players playing catch-up. They’re frantically migrating their products to the “cloud” – but it’s really just the “hosting” of old. The truth is that they’re gluing together old products to a delivery model that was never designed to work together. Worse still, they’re marketing it as if it is a real cloud solution. The “cloud-washing” phenomenon has now come to the budgeting, planning, consolidation, and business intelligence space, where legacy providers are warming up two-decades old software, painting puffy cloud pictures in brochures and presentations, and hoping their prospective customers can’t spot the difference. The truth is, you can’t just move on-premise software to a datacenter, and call it “cloud”. Ultimately, the customer is the loser in this scenario.

Even the media is fed up with fake cloud providers that try to pass as SaaS vendors.

Why? Because there are real, meaningful differences between solutions born and bred in the cloud, and those that were forced into the cloud to try to keep up with today’s business needs. Customers who are unable to navigate through the sea of SaaS-queraders and who are fooled by the fakers are destined to be stuck with expensive, antiquated solutions to run their businesses.

So the question is this:

Can You Spot a Fake Cloud Budgeting and Planning Solution when you see it?

Here are four warning signs to look out for:

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