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