Antonio Dutra Jr., Vice President of Product Strategy
In today’s highly competitive and dynamic economy, enterprises of all sizes require a comprehensive corporate performance management (CPM) solution to stay on top of the market trends. Financial presuppositions that were reasonable yesterday may not be relevant tomorrow. Besides, there is always an imminent possibility of regulatory changes that require planning tailored for a range of possible scenarios. This uncertainty or unpredictability necessitates a CPM solution to be agile and adaptable enough to quickly assess a situation and create a revised plan for the best possible decision-making under new circumstances. “Organizations need a complete solution that encompasses planning strategies and alternatives for what-if scenarios, budgeting to proactively translate plans into actions, forecasting to track performance and leverage predictive analytics, and more,” says Antonio Dutra Jr., vice president of product strategy, SYSPHERA.
Massachusetts-based SYSPHERA was founded to address the growing demand for CPM solutions among medium-sized firms seeking lower total cost of ownership (TCO) and no proprietary technologies. The company’s holistic CPM solution that retrieves and consolidates financial and operational data on a single platform is aimed at facilitating effective business decisions. Most of this data has been historically stored on spreadsheets, which results in increased workloads. SYSPHERA allows organizations to get rid of these interconnected spreadsheets with a solution that brings planning, budgeting, forecasting, consolidation, and e-financial processes, all under one roof. After retrieving an organization’s data from MS Excel, ERPs, and other applications, the company automatically reclassifies, converts, consolidates, as well as reports all the data. As a result, analysts need not spend their time gathering data and instead focus on analyzing and extracting valuable insights from it. This, in turn, results in more intelligent, flexible, and reliable business decisions.
“Since day one, our aim is to create a solution that gives full independence to financial departments of organizations, so that every time they need to remodel a formula or develop new functions and features, they can do it on their own,” states Dutra.
SYSPHERA is a complete solution that meets all CPM demands, integrated with any ERP, with low TCO and a very favorable ROI compared to competitors
SYSPHERA also complements the capability of various business intelligence (BI) platforms, projecting key performance indicators (KPIs) and providing end-users with efficient administration of their processes as well as the ability to create scenarios and simulations. It allows the users of MicroStrategy and Microsoft BI platforms to evaluate and predict the impact of their sales, profitability, and productivity.
The effectiveness of SYSPHERA’s CPM solution can be illustrated by its project for Adriana Papell, a 35-year-old New York-based apparel company that has businesses across 15 countries. However, the brand’s planning and reporting based on spreadsheets was time-consuming, non-collaborative, prone to errors, and also lacked traceability. Adriana Papell chose SYSPHERA for its flexibility, user-friendliness, lower implementation time, and most importantly because it was powered by the capabilities of MicroStrategy that the brand was already using. The apparel company modeled all of its plan modules in SYSPHERA and mapped the entire operational as well as financial data to create a new data warehouse, thus enhancing the overall planning and reporting process. SYSPHERA has scripted many such success stories, improving the performance of enterprises and ensuring constant growth across all industries.
To further enrich its product, SYSPHERA is currently working on a new version, which is in the final stages of development and will be released with various advanced features based on customers’ feedback. The company also plans to equip its CPM solution with artificial intelligence for more effective discovery of anomalies, forecast projections, voice assistance, and more. “Our principal strength lies in extensive financial knowledge and collective expertise in planning, budgeting, forecasting, and consolidation, which enables us to deliver a complete CPM solution that helps clients stay ahead of the curve,” concludes Dutra.