The New Nation - Internet Edition

Oracle on Thursday announced that Oracle's Hyperion has been named the leading Corporate Performance Management (CPM) suites vendor worldwide and in Asia Pacific based on 200n worldwide software revenues by Gartner.

In its report, Gartner defines CPM as encompassing the processes used to manage corporate performance (such as strategy formulation, budgeting, revenue planning and financial forecasting), the methodologies that drive facets of these processes (such as the balanced scorecard or value-based management), and the metrics used to measure performance against strategic and operational performance goals. The primary functional areas of CPM are budgeting, planning and forecasting, score carding, profitability modeling, financial consolidation, financial/statutory reporting, and analytic applications that are part of a BI and performance management framework. Gartner noted that the total software revenue in the CPM suites market grew 20.2 percent to $1.5 billion in 2006, led by the need for organisations to adhere to compliance issues and implement strategic change.

'CPM and business intelligence markets and technologies are converging rapidly,' said Rich Clayton, Vice President, Business Intelligence and Performance Management Marketing, Oracle. "As a leader in these markets, Oracle is providing organisations increased value by delivering the industry's only hot-pluggable, integrated enterprise performance management system that unifies corporate and financial performance management, operational analytic applications, BI tools, reporting and data integration, all on a common business intelligence platform. "