Beyond planning and reporting for the future
Enterprise Performance Management or EPM (or Business/Corporate Performance Management) systems support financial planning/budgeting and forecasting.
These tools help business leaders manage strategy and track the company’s financial health against various financial goals.
The Full FP&A Spectrum
EPM tools can also go beyond just planning and reporting for the future. Additional features are often included in solutions to capture data across the entire financial timeline. While traditionally focused on the finance department, EPM solutions are now designed to be used across the entire enterprise.
Features such as Budgeting, Financial Reporting, What-If Scenario Modelling and Variance reporting are also being accompanied by Regulatory reporting & disclosure management, Financial analysis, and any other spreadsheet-intensive business processes to combine all finance functions into a single platform.
FP&A Solution & Strategy
Extending your current financial strategy
EPM solutions are not just expanding across internal teams but are also expanding their functional capabilities. Solutions are now incorporating additional features to extend the standard finance tasks and reporting capabilities.
These tools help organizations discover patterns in data and go beyond knowing what has happened to provide the best assessment of what will happen in the future.
It is important to consider the direction a vendor is taking their product and how they are spending they are spending their research and development resources.
Hosting the EPM Solution
SaaS (Software as a Service) solutions offer services hosted on the cloud with subscription-based access. This is the current industry trend for EPM tools.
On-Prem(ises) solutions are hosted and managed on physical servers within your organization. This is no longer a popular offering among vendors.
Vendor Evaluation Service
Deciding on a vendor?
Deciding which EPM vendor to go with? We can help. ProLytics also offers Vendor Evaluation service which utilizes our refined methodology, Phased Vendor Evaluation Approach to help enterprises find the best EPM fit for their business.