What does EPM stand for?
EPM is short for enterprise performance management, which is a specialized area within the broader category of business performance management. EPM supports the work of a chief financial officer (CFO) and the financial planning and analysis (FP&A) processes that are key to a finance department’s operations.
What are the benefits of EPM?
EPM’s primary benefit is improving business performance. It does so by making management processes more efficient and delivering insights to decision-makers in real time so that they can plan, budget, forecast, and report with greater confidence and ease.
What is EPM implementation?
Due to how complexly interwoven EPM is in the day-to-day operations of an enterprise, the execution of an EPM transformation project requires careful planning and finesse in order to encourage users to adopt the new system and for all of the kinks to be worked out with minimal impact on business operations. Here is a roadmap for a successful FP&A product implementation.
What applications and products are used for EPM?
There are a wide variety of EPM applications available, made by companies like Jedox, Workday, SAP, Oracle, IBM, Vena, Wolters Kluwer, OneStream, Board, Planful, Prophix, and Anaplan. Many of the best EPM tools now are cloud-based, making them accessible as long as you have an internet connection. Here is a deeper dive on product evaluation.
What are the differences among business performance management, enterprise performance management, and corporate performance management?
Each of these terms are used in different regions around the world to describe the same set of practices. Business performance management is commonly thought to have a wider scope, whereas enterprise performance management and corporate performance management specifically focus on the role of finance within an enterprise.
What is the meaning and role of business intelligence?
Business intelligence refers to any software or analytics that provide insights that lead to more informed business decisions. These insights may take the form of charts, reports, graphs, and dashboards.