They are used primarily by CFOs and also in other functional areas such as HR, sales, IT, and marketing. In this process, EPM tools deal with four key areas: planning, budgeting, forecasting, and reporting.
The ultimate goal of an EPM system is to help an organisation evaluate business performance, boost efficiency, and reach goals.
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What is Enterprise Performance Management?Įnterprise performance management or EPM software is often interchangeably used with corporate performance management (CPM) and business performance management (BPM). If you want to know more about why EPM is so important and how it can help your business drive business performance, this article is for you. Starting from strategic planning to modelling to consolidating, and analysing performance, EPM software can help businesses remain agile and make better decisions in different business scenarios. This is especially true for chief financial officers (CFOs) who must correlate finance metrics with business performance metrics for aligning finances in the right direction.Įnterprise performance management (EPM) tools play a key role in this entire process of measuring operational results and predicting outcomes with insights. This means c-suite leaders are constantly on the lookout for powerful insights to increase efficiency, reduce risk, and minimise the cost of operations. Today’s complex and faster-changing business world is no exception. In every sphere of life, better-informed decisions come from insights, not gut feels.