Corporate Performance Management (CPM) has become a key focus of attention as Industries are looking beyond the traditional metrics for a deeper and more accurate understanding of how an organization is performing. From a technology perspective, CPM means an integration and automation of Score carding, Business intelligence or decision support (including reporting and consolidation), and Planning. Business Intelligence (BI) ensures reliability in the planning process, through solid metrics management, and allows the decision-makers to react more quickly in the present dynamic environment. It does not replace existing systems, but serves as a front-end to them, aggregating internal and external (third-party) data and consolidating it in a central framework. This paper illustrates the Testing Strategy that which we believe would be ideal for ensuring good quality in the development of such Business Intelligence applications over any enterprise resource planning software. We have based this paper on our experiences in testing of Business Intelligence software using Cognos Series 7 version 3 tools over Infor ERP-LN application. The Various phase of testing that we decided on are detailed in this paper, with explanations on the rationale of having such phases. The paper will cover the entire test cycles which were executed on ETL process and BI reports.