Marketplace where users can access pre-created models and import them into their model

Description

A marketplace feature in Corporate Performance Management is a store where users can purchase pre-created models for immediate use. This eliminates the need for developing models from scratch, thus saving time and resource investment.

Example Use Case

Scenario: A small logistics firm uses CPM software to forecast labor and demand. Their business is growing rapidly and their internal teams lack the time and expertise to build more sophisticated forecasting models for their industry.

Solution: The CPM software offers a marketplace where the firm can access pre-created models pertinent to the logistics industry. These models can be imported directly into the firm's existing business model, saving significant time and resources in devising and testing new models manually.

Considerations

Some vendors will provide something like a marketplace, but in most cases, they require implementation support to get setup. Ask yourself, is it more cost effective to build something from scratch, or should we implement this “best practice” model from a marketplace? Will this purchase require me to pay ongoing support for the model on top of what I already pay for the software?

If the vendor does not have a marketplace, ask if they have partners who leverage models related to your industry. The partner ecosystems of CPM vendors often specialize, and can implement a best-practice model that they have experience with for the cost of the consulting hours.

Questions to Ask a Vendor

• Marketplace Scope: What variety of pre-created models do you provide in your marketplace? Are these models adapted to specific industries?
• Usability: How easy is it to import a model from your marketplace into our existing system? Will it require extensive consulting support to get going?
• Partner Ecosystem: Do you have any partners specific to our industry who can share expertise?