This document was created by the BPM Standards Group which consisted of leading analysts, consultants, and vendors. The intent was to provide clarity for both vendors and customers as to what business performance management is, and how it benefits companies that adopt it. It also features an appendix that offers guidance on development of metrics and key performance indicators for most areas of the business.
Business Performance Management (BPM) is a methodology to optimize the execution of business strategy that consists of a set of integrated, closed-loop, analytic processes, supported by technology, that address financial as well as operational data. BPM enables a business to define, measure and manage its performance against strategic goals. The core financial and operational processes of BPM include planning, consolidation and reporting, analysis and the deployment of linked key performance indicators (KPI’s) throughout an organization.
BPM is a subset of a comprehensive corporate governance strategy. The term “corporate governance” often refers to efforts to handle regulatory compliance (e.g. SOX, Basel II). However, firms are beginning to adopt more holistic approaches to corporate governance including performance management, compliance management and risk management.
This BPM framework document is intended to provide general guidelines for organizations and individuals considering the start of a BPM initiative.
Link to full article: https://www.bpmpartners.com/wp-content/uploads/2018/10/BPM-Industry-Framework-V5.pdf