Meaning

Enterprise Performance Management (EPM) is the process of evaluating business performance with the goal of increasing operational efficiency, maximizing business processes, and improving ROI. An EPM system integrates and analyzes data from diverse sources such as front-office and back-office operations, e-commerce systems, data warehouses, external data sources, and more. Advanced EPM systems support various performance methodologies like the balanced card. EPM drives the enhanced performance of a business by doing result comparisons to its subsequent future business goals.

EPM and How It Benefits Businesses

By automatically acquiring and aggregating data in real-time, automation of tasks and tools enables value-added business operations. This results in time-consuming activities that accountants were previously in charge of.

EPM has the potential to organize resources, tasks, and activities among different teams and departments. It achieves this by using already-existing procedures and enabling its management in light of how well they support enterprise performance.

Through its automated procedures, such as embedded computations and data gathering, it frees up more time to simulate what-if scenarios and discover growth opportunities.

EPM helps improve financial planning and analysis to reduce cost and risk so as to drive profitability and make decisions based on facts.

Flexibility in EPM

Understand the reasons why flexibility is key for an EPM Framework and the components involved

Understand EPM better

Top Three Enterprise Performance Management Technology Trends

1. Deployment models remain a challenge: At a global operation, implementing a new EPM solution with various deployment models (cloud vs. on-premises) may require replacing some sizable legacy systems and policies. This effort is not simple, and can lead to a duration of one to three years of on-premises implementation Thanks to advanced technology - Anaplan implementation takes very less time to get an on-premises solution up and running due to platform agility and the natural language syntax putting modeling in the hands of business.

2. Unequal Innovation: All tech innovation is not created equally. In the move toward cloud solutions, EPM innovation is evolving along four segments: user-experience simplicity, social collaboration, advanced analytics, and integration with other business apps. These four do not hold equal significance, and many Anaplan customers indicate a preference for the following order:

Integration. Strong data and metadata integration are extremely important.

Simplicity. Users have been exposed to numerous technological rollouts, and adoption rises with an increase in technology advancements in operational work and accelerated productivity.

Advanced analytics. Organizational leaders need real-time business insights and flexibility in their planning platform to quickly assess scenarios and the best courses of action in today's fast-paced world.

Social collaboration. cooperation Decision-making gets delayed and erroneous when the right team of professionals is not included in the planning process at the right moment.

3. Flexible modeling: As SaaS solutions have proliferated in the field of enterprise performance management, widely leading players to offer competitive benefits that include robust model system, flexibility, the robustness and flexibility of modeling, reduction in IT dependency, and management reporting capabilities.