Enterprise Performance Management Solutions

Therefore, EPM software and solutions are the tools used to execute EPM frameworks, such as JustPerform. These systems often provide capabilities like FP&A, consolidation and close, customizable reporting dashboards, “what-if” modeling, and unified operational planning. EPM software then centralizes all of this information in a unified platform for a single, consistent source of truth that helps accelerate cycle times compared to manual, spreadsheet-based approaches.

Using an effective EPM solution can improve forecast accuracy by centralizing your data and reducing manual errors for more reliable modeling. These tools can also speed up close and reporting cycles by automating consolidation tasks and building real-time dashboards to improve analysis efficiency by days or even weeks. Having all of your relevant data in one place helps everyone align on strategy, linking operational plans to financial goals so everyone is working towards the same objectives. Not only does EPM software inform decision-making via deeper insights and more thorough risk assessment, but it can improve regulatory compliance through automated audit trails and built-in disclosures.

EPM and ERP (Enterprise Resource Planning) differ in their scope and focus. While EPM focuses primarily on strategy and financial management processes like forecasting and reporting, ERP manages day-to-day transaction processing like inventory and manufacturing. Because of this, ERP deals with more transaction-level, operational data, while EPM commonly handles high-level, aggregated metrics. The people using ERP tools are typically operational teams (logistics, manufacturing, etc.), while users of EPM solutions are often finance leadership and executive management.

Another commonly-confused comparison, EPM and CPM are often used interchangeably, but there are key distinctions. EPM covers the end-to-end performance management cycle (meaning strategy to execution) across the entire organization. On the other hand, CPM is traditionally more finance-centric, primarily dealing specifically with consolidation, reporting, and budgeting. In essence, most modern EPM software encompasses CPM features while extending beyond this into operational and strategic planning for the broader company.

A strong EPM tool should unify your planning, consolidation, reporting, and analytics data and activities into a single environment. In addition to this, your software needs to be scalable as your organization grows (not just in data volume but also model complexity). Hand-in-hand with scalability is flexibility, so look for an EPM solution that has low-code or no-code interfaces that are easy to use and can accommodate quick ad hoc changes. Pre-built integrations are another great capability to get your team off the ground and running sooner, so look for connectors to major ERPs (like Oracle, SAP, and Dynamics 365) and data warehouses. Lastly, make sure that your EPM software has sufficient governance and security features, such as role-based access, automated audit trails, and more.

We recommend evaluating the features and capabilities mentioned above (like unification of data, scalability, integrations, security, etc.) and comparing those with your organization’s specific needs. Consider factors like the data sources you currently use, how many user profiles would be required, how complex your data modeling needs to be, and whether you’d deploy on-premise or in the cloud (or hybrid). Another key consideration is the vendor’s support, as you’ll want a partner who provides valuable guidance and helps with troubleshooting, should you need it.

Our suite of EPM software provides pre-built data connectors so your data flows securely (and instantly) from SAP, Oracle, Microsoft Dynamics, and other systems to create a seamless and centralized source of truth. Our familiar Excel-based interfaces and reporting make it easy to get started, while still supporting version control and automated workflows. Our powerful financial close tools further automate and streamline the consolidation process, intercompany eliminations, and audit-ready reporting. Even better, these analytics are used to create real-time scorecards and guided analytics for stakeholders to monitor and drill into KPIs. Lastly, not only are insightsoftware EPM solutions collaborative, but they can be scaled across cloud, on-premise, or hybrid infrastructure to grow with your team.