At a Glance
What is
Enterprise Performance Management (EPM)?
EPM software specialises in budgeting, forecasting, and financial management. It provides businesses with data, analytics, reporting, and forecast modelling, so that management can analyse and plan strategically for the business.
EPM software allows organisations to align strategy with execution. It grabs data generated from systems, processes, and activities – typically recorded in ERP systems, across the organisation. EPM builds analytics from the resulting data, to identify business drivers and other insights. Management can then assess new opportunities, raise profitability, and respond with greater agility in the face of unanticipated change.
Key Elements of EPM
EPM used to be run on premise. But today, more and more EPM software systems run on the cloud. A cloud platform provides a range of benefits, such as:
Large Data Storage Capacity
Stronger Security
Easier Integration
Complimentary Applications
How does EPM work?
Accessing information
across the business
EPM access financial and operational data from business units across the organisation, from Finance to HR to Sales. The data can be sourced from a range of systems from ecommerce systems, data warehouses, front and back-office applications, and external data sources.
Creating a strategic plan
As a fast-growing company, your needs are beginning to outpace your current system capabilities. As your business grows, you need to put best-practice processes in place.
Budget
EPM gives you a financial overview of all lines of business and allows you to plan and build flexible budgets. The workflow process is typically automated, improving efficiency.
Track and Report
Real-time data lets you assess performance across the company and determine whether changes are needed. You can then prepare management reports that are compliant and align with regulatory guidance.
Assess and Analyse
EPM also lets businesses review performance and profitability against that plan. It also lets you identify and resolve underperformance areas, find new opportunities, and have a data-driven approach to strategic planning.
Deep Dive in EPM Processes
Budgeting, Planning & Forecasting
Navigate the uncertain, ever-changing commercial environment with confidence
Learn more
EPM Examples in Business Sectors
Financial Services
These organisations need to constantly adapt their business models to regulatory and market shifts, making it harder to meet profitability targets. EPM improves efficiency in the cost management and detailed profitability analyses that support the more complex and detailed calculations required to determine profitability potential.
Retail
More consumers are shopping online which has forced retailers to change their business models, and give access this sector has undergone momentous change, including access to a new and growing repository of rich consumer data. EPM allows retailers to calculate and simulate profitability down to the transaction level, identifying new revenue streams and consumer groups to help grow the business.
Manufacturing
Supply chain disruption has taken its toll on manufacturing. EPM gives manufacturers accurate costs and profitability analytics to make ‘build or buy’ decisions. Because manufacturers can access real-time data and insights, they can protect margins and ensure profitability.
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