insightsoftware has once again been named a leader in the 2023 Wisdom of Crowds® Enterprise Performance Management Market Study by Dresner Advisory Services, earning high marks for both customer experience and vendor credibility in the enterprise performance management (EPM) sector.
With EPM solutions for financial reporting, operational reporting and analytics, budgeting and planning, and more, insightsoftware empowers leaders from organizations worldwide to unlock greater financial intelligence and build resilient businesses.
What is Enterprise Performance Management?
Performance management is an approach that integrates enterprise-class modeling, planning, BI, and analytics in a single, or closely linked system. Enterprise performance management (EPM) is a key element of performance management. It enables an organization to plan for the impact of various internal and external factors on its future performance and business outcomes.
EPM includes strategic, operational, and financial planning and forecasting. EPM systems also include reporting and analytics capabilities that enable organizations to set goals and objectives and track performance against those objectives, as well as satisfy many regulatory and statutory reporting requirements.
Unsurprisingly, adoption of enterprise performance management continues to grow, with the share of organizations that use EPM software increasing from 54% in 2022 to 62% in 2023. Enterprise performance management is clearly a mainstream technology that is becoming increasingly widespread.
Among organizations that already use enterprise performance management software, half (49%) plan to increase their EPM user base. This indicates organizations recognize the benefits EPM solutions provide, including improvements in efficiency and agility in collaborative planning, analytics, and reporting. In fact, nearly 83% of respondents rate enterprise performance management as critical, very important, or important to their organization’s overall BI and application strategy.
The data shows a relationship between success with BI and the importance of enterprise performance management, with 84% of organizations that are completely successful with BI rating EPM solutions as critical, very important, or important.
insightsoftware Named a Leader in EPM Solutions
The 2023 edition Wisdom of Crowds® Enterprise Performance Management Market Study is Dresner’s broad assessment of the EPM market, providing a comprehensive look at key user trends, attitudes, and intentions. The report offers a real-world perspective on the market, including analyses of adoption and deployment, success with BI, plus a robust industry section.
The Dresner Customer Experience Model maps metrics like the sales and acquisition process, technical support, and consulting services, against general customer sentiment. The Vendor Credibility Model measures value for money against user confidence. insightsoftware scored as an Overall Leader in customer experience and a Trust Leader in vendor credibility and earned a perfect recommend score.
To view the full report and learn more about insightsoftware’s EPM solutions, click here.