Most users are not very satisfied with their performance management software. Vendors need to improve customer service, and buyers need to minimize the number of systems they're running.
In today's highly competitive market for business performance management (BPM) systems and services, vendors are working overtime to make their mark. They're promising great things from these applications: better financial reporting and compliance; accurate, real-time information for all decision-makers; drastically improved forecasting; and precise, realistic budgets. The question for buyers is: How well are they delivering? How many of the promises are just marketing hype? And if the answer is more than "none," what do BPM software providers need to do about it?
Two separate surveys, neither sponsored by vendors, set out recently to answer just those questions. Late last year, BPM magazine contacted a select group of subscribers who had previously identified themselves as having invested in budgeting, planning, and financial reporting systems; a total of 329 responded to this first annual Solutions Satisfaction Survey. Simultaneously, consulting firm BPM Partners was soliciting responses to its 2005 BPM Pulse Survey from readers of BPM, Business Finance, and DM Review; it received 212 valid responses. Both studies came to the same conclusion: Performance management software vendors are not meeting users' expectations as well as they should.
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