{"id":13381,"date":"2022-03-10T17:21:12","date_gmt":"2022-03-10T15:21:12","guid":{"rendered":"https:\/\/yeeply.com\/en\/?p=13381"},"modified":"2023-12-11T10:46:16","modified_gmt":"2023-12-11T08:46:16","slug":"what-is-enterprise-performance-management-epm-solution","status":"publish","type":"post","link":"https:\/\/yeeply.com\/en\/blog\/digitalization\/what-is-enterprise-performance-management-epm-solution\/","title":{"rendered":"What is an Enterprise Performance Management (EPM) solution for companies?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Enterprise Performance Management (EPM) is a system that integrates and analyses data from different sources with the aim of <\/span><b>improving business performance<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This software is very useful <\/span><b>for both SMEs and large companies<\/b><span style=\"font-weight: 400;\">, as it allows tracking of any business area (trading systems, front- or back-office applications, external data sources, etc.), and also helps to <\/span><b>plan objectives more efficiently<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Index:<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#opt\"><span style=\"font-weight: 400;\">Why opt for an EPM Solution?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#of\"><span style=\"font-weight: 400;\">The main advantages of EPM\u00a0<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#areas\"><span style=\"font-weight: 400;\">EPM Software application areas<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#examples\"><span style=\"font-weight: 400;\">Enterprise EPM application examples<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Yeeply\"><span style=\"font-weight: 400;\">Yeeply provides customised EPM Solutions<\/span><\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><span id=\"opt\" style=\"font-weight: 400;\">Why opt for an EPM Solution?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Enterprise Performance Management (EPM) is commonly used to describe software that deals with the administration tasks of a company and unifies both<\/span><b> business management methods and solutions<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In recent times there has been an increase in demand for cloud-based EPM software, also called software as a service (SaaS). Here are some of the reasons why it is interesting to adopt EPM in your organisation:\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Financial management<\/span><\/h3>\n<p><b>Budgeting, forecasting and financial management<\/b><span style=\"font-weight: 400;\"> can be done through data analysis, forecasting models, etc., enabling companies to better understand their business, make better decisions that drive efficiency and can<\/span><b> improve the financial and operational performance of your organisation.<\/b><\/p>\n<h3><span style=\"font-weight: 400;\">Optimise your business results\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Companies can consolidate their results with the help of EPM. The programme uses <\/span><b>data generated from systems, processes and activities across the organisation to<\/b><span style=\"font-weight: 400;\"> identify business drivers, generate new business opportunities, <\/span><b>increase profitability<\/b><span style=\"font-weight: 400;\"> and respond with greater agility to unexpected changes.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Related article:<\/span> <i><span style=\"font-weight: 400;\">Implementing the Customer Data Platform (CDP) in your digital transformation<\/span><\/i><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"font-weight: 400;\">The role of EPM for your SME<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The purpose of EPM software is to help achieve the strategic goals and objectives of companies. This is why it <\/span><b>can benefit SMEs in very different areas<\/b><span style=\"font-weight: 400;\">, such as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Budgeting<\/b> <b>, planning, forecasting and modelling<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Consolidation of results<\/b><span style=\"font-weight: 400;\"> and periodic closing of the books.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Internal and external <\/span><b>performance reporting.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Performance vs. planning reports<\/b><span style=\"font-weight: 400;\">, comparatives with previous years, either by divisions or products.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Planning and making adjustments<\/b><span style=\"font-weight: 400;\"> when the business does not behave as expected so that the proposed objectives are met within the set timeframe.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In addition to the aforementioned tasks, the use of Enterprise Performance Management can <\/span><b>help the different departments <\/b><span style=\"font-weight: 400;\">of a company (Commercial, HR, Administration, Sales, etc.)<\/span><b> to be aligned around the objectives of the organisation<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We must not forget that an EPM includes the monitoring of key performance indicators or KPIs, which allow the heads of the different departments <\/span><b>to understand the key market trends and predict future behaviour<\/b><span style=\"font-weight: 400;\">, so implementing an EPM is very useful in an increasingly unpredictable and volatile business environment.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">How do I assess whether my company needs an EPM solution?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To find out, <\/span><b>the first step is to examine the reports from our financial applications<\/b><span style=\"font-weight: 400;\"> (Accounting System, Billing and Expenses, Customer Relationship Management, HR, etc.)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the current structure requires several systems to analyse and evaluate the information that results in various reports, it could be a first sign of the need for an EPM.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When we are also using only an Excel spreadsheet to evaluate, report and plan our business strategy, it is also a <\/span><b>sign of the need for an EPM tool<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><b>If we are not being efficient in our internal analysis<\/b><span style=\"font-weight: 400;\">, it is more than likely that the time and money used to collect, organise and report the results will be excessive. Poor architecture requires a disproportionate level of effort to achieve the expected knowledge.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An inappropriate use of the information handled by the company can also lead us to poor conclusions in our analyses, as well as<\/span><b> suffering from a lack of agility to adapt to changes<\/b><span style=\"font-weight: 400;\">, since understanding the results correctly is what will allow us to <\/span><b>promote strategies and plans for the future<\/b><span style=\"font-weight: 400;\">, no matter how changing the scenario in which we move.<\/span><\/p>\n<figure id=\"attachment_13383\" aria-describedby=\"caption-attachment-13383\" style=\"width: 640px\" class=\"wp-caption alignnone\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-13383 size-full\" title=\"epm software\" src=\"https:\/\/yeeply.com\/en\/wp-content\/uploads\/2022\/03\/carlos-muza-hpjSkU2UYSU-unsplash-2.jpg\" alt=\"jedox epm\" width=\"640\" height=\"456\" srcset=\"https:\/\/yeeply.com\/en\/wp-content\/uploads\/2022\/03\/carlos-muza-hpjSkU2UYSU-unsplash-2.jpg 640w, https:\/\/yeeply.com\/en\/wp-content\/uploads\/2022\/03\/carlos-muza-hpjSkU2UYSU-unsplash-2-300x214.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><figcaption id=\"caption-attachment-13383\" class=\"wp-caption-text\">EPM solutions for companies. Source: <a href=\"https:\/\/unsplash.com\/photos\/hpjSkU2UYSU\"><span style=\"font-weight: 400;\">Unsplash<\/span><\/a><\/figcaption><\/figure>\n<h2><span id=\"of\" style=\"font-weight: 400;\">The main advantages of EPM<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">These are <\/span><b>six of the main advantages<\/b><span style=\"font-weight: 400;\"> of using EPM:<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Automation<\/span><\/h3>\n<p><b>Automation of planning, reporting and financial consolidation processes<\/b><span style=\"font-weight: 400;\"> , eliminating errors and labour-intensive work.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Time savings<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Streamlines management cycles and delivery of results, allowing <\/span><b>more time for analysis and strategic work<\/b><span style=\"font-weight: 400;\"> that provides the company with greater added value.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Integration<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It allows<\/span><b> integrated planning by unifying company data of all kinds<\/b><span style=\"font-weight: 400;\">, which will make it easier for us to comply with a strategic plan adapted to our objectives.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Accessibility<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Increases the capacity for <\/span><b>collaboration between the different departments<\/b><span style=\"font-weight: 400;\"> that make up a company and makes all the information easier to find, favouring communication between teams.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Agility<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Automates manual tasks, <\/span><b>speeds up key business processes<\/b><span style=\"font-weight: 400;\">, and enables better alignment between Finance and Operations departments.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Better decision-making capacity<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">EPM is based on data generated in other systems, such as ERP, HCM, CRM, among others. Having all this information available for analysis allows <\/span><b>operating processes to be controlled<\/b><span style=\"font-weight: 400;\"> and better business decisions to be made.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">You may be interested: <\/span><a href=\"https:\/\/yeeply.com\/en\/blog\/why-cybersecurity-crucial-sme\/\" target=\"_blank\" rel=\"noopener\"><i><span style=\"font-weight: 400;\">Why cybersecurity is a crucial investment for your SME<\/span><\/i><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2><span id=\"areas\" style=\"font-weight: 400;\">EPM software application areas\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">EPMs are commonly known for their usefulness in managing the financial area and in planning processes in companies, but EPM solutions are also becoming <\/span><b>more and more useful for other departments<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Sales<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Based on the figures obtained, an EPM program will help the team of this department to restructure its sales funnel to make it more effective, as <\/span><b>EPMs allow targets to be continuously monitored and adjusted<\/b><span style=\"font-weight: 400;\"> as real-world results change.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Human resources<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The HR department can identify, through EPM, staff needs and <\/span><b>estimate payroll expenses<\/b> <b>ahead of time through predictive models<\/b><span style=\"font-weight: 400;\">. They can also analyse how well staff are meeting goals through <\/span><b>business performance analysis<\/b><span style=\"font-weight: 400;\"> and make decisions related to hiring, payroll and incentives.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Marketing<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It gives us an<\/span><b> integrated view of all marketing actions that are being carried out <\/b><span style=\"font-weight: 400;\">at any given moment to make faster decisions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This allows <\/span><b>campaigns to be adapted more easily<\/b><span style=\"font-weight: 400;\">, developing, for example, new offers based on the demands that customers express at all times.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Purchasing<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The team in this department will be better informed and always updated on the market, being able to <\/span><b>react faster to variations in supplier prices<\/b><span style=\"font-weight: 400;\">, which will save costs and improve productivity.<\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_13384\" aria-describedby=\"caption-attachment-13384\" style=\"width: 640px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-13384 size-full\" title=\"epm solution\" src=\"https:\/\/yeeply.com\/en\/wp-content\/uploads\/2022\/03\/pexels-lukas-669621.jpg\" alt=\"epm tool\" width=\"640\" height=\"423\" srcset=\"https:\/\/yeeply.com\/en\/wp-content\/uploads\/2022\/03\/pexels-lukas-669621.jpg 640w, https:\/\/yeeply.com\/en\/wp-content\/uploads\/2022\/03\/pexels-lukas-669621-300x198.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><figcaption id=\"caption-attachment-13384\" class=\"wp-caption-text\">Enterprise Performance Management charts. Source: <a href=\"https:\/\/www.pexels.com\/es-es\/foto\/ilustracion-de-grafico-circular-669621\/\"><span style=\"font-weight: 400;\">Pexels<\/span><\/a><\/figcaption><\/figure>\n<h2><span id=\"examples\" style=\"font-weight: 400;\">EPM application examples in companies<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">VidaCord<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">VidaCord is a health centre authorised by the Spanish health authorities for the processing, analysis, cryopreservation and storage of blood and\/or umbilical cord stem cells.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thanks to the development of the EPM (Enterprise Performance Management) system,<\/span><b> VidaCord has optimised the analysis and analytical reporting<\/b><span style=\"font-weight: 400;\">, the management of all administrative procedures and the issuance of qualified medical reports.<\/span><\/p>\n<p><b>Services and solutions applied<\/b><span style=\"font-weight: 400;\">: Data Warehouse Engineering, Creation of KPIs for reports, Consulting, Integration Project, Systems Support and Maintenance.<\/span><\/p>\n<p><b>Technology<\/b><span style=\"font-weight: 400;\">: Custom ERP, Oracle Business Intelligence, Oracle Data Base.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Lidl\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Lidl needed to have a solid, secure, fast and flexible tool that would allow it to be <\/span><b>independent in its management and configuration of the company&#8217;s corporate reporting<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The implementation of a Enterprise Performance Management solution in the Lidl Spain stores with <\/span><b>Jedox<\/b><span style=\"font-weight: 400;\"> has facilitated the <\/span><b>automatic preparation of all the reports<\/b><span style=\"font-weight: 400;\"> that Lidl Spain transmits to the corporation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This made it possible to consolidate the information from all the areas of the organisation involved in the process (accounting, commercial,&#8230;) as well as to analyse the different variables that characterise each report.<\/span><\/p>\n<p><b>Services and solutions applied: <\/b><span style=\"font-weight: 400;\">Planning and Management<\/span><\/p>\n<p><b>Technology<\/b><span style=\"font-weight: 400;\">: Customised ERP, Excel, <\/span><b>Jedox<\/b><span style=\"font-weight: 400;\"> (business performance management software used for planning, analysis, and reporting in finance and other areas such as sales, human resources, and procurement).<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Read more: <\/span><a href=\"https:\/\/yeeply.com\/en\/blog\/best-digital-tech-experts-for-business\/\"><i><span style=\"font-weight: 400;\">The best digital and tech experts for your business<\/span><\/i><\/a><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"font-weight: 400;\">SFM<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The Municipal Funeral Services Company of Madrid (SFM) is the funeral home that offers the most accumulated experience, with more than 100 years of service to the city of Madrid\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To address its <\/span><a href=\"https:\/\/yeeply.com\/en\/blog\/best-digital-tech-experts-for-business\/\" target=\"_blank\" rel=\"noopener\"><b>Digital Transformation<\/b> <b>Plan<\/b><\/a><span style=\"font-weight: 400;\">, SFM adopted an Enterprise Performance Management solution for Business Planning and Management (by Jedox) in the areas of \u201c<\/span><b>Budgeting, Forecasting and Reporting<\/b><span style=\"font-weight: 400;\">\u201d.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Due to the implementation of the EPM tool, SFM has been able to benefit from <\/span><b>better customer service, unification of information <\/b><span style=\"font-weight: 400;\">by<\/span> <span style=\"font-weight: 400;\">reducing investment in time, greater employee productivity, and the integrity, reliability and transparency of its information.<\/span><\/p>\n<p><b>Services and solutions applied<\/b><span style=\"font-weight: 400;\">: analysis, monitoring and tracking of SFM activity, Unification of information, integration with third-party platforms.\u00a0<\/span><\/p>\n<p><b>Technology: <\/b><span style=\"font-weight: 400;\">custom ERP, Jedox.<\/span><\/p>\n<h2><span id=\"Yeeply\" style=\"font-weight: 400;\">Yeeply provides customised EPM solutions<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Project management through a good EPM tool has a significant <\/span><b>impact on the effectiveness and efficiency of an organisation<\/b><span style=\"font-weight: 400;\">, by providing it with integrated information on the progress of its project portfolio at all times.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Having the tool, however, is not the only thing that is needed. Before choosing, it is necessary to <\/span><b>establish a project management methodology for the organisation<\/b><span style=\"font-weight: 400;\">, which defines, among other things, what information is going to be reported, how it is going to be done, when, by whom and other conditions of the project management process.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you need consulting about EPM, <\/span><a href=\"https:\/\/yeeply.com\/en\/enterprise-performance-management-epm-solutions\/?rel=EN-LNK#publish-project\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">at Yeeply <\/span>we can help you<\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We will put you in contact with <\/span><a href=\"https:\/\/yeeply.com\/en\/enterprise-performance-management-epm-solutions\/?rel=EN-LNK#publish-project\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">our experts<\/span><\/a><span style=\"font-weight: 400;\"> for advice on the areas of your company that need an EPM solution.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enterprise Performance Management (EPM) is a system that integrates and analyses data from different sources with the aim of improving business performance.\u00a0 This software is &#8230;<\/p>\n","protected":false},"author":2,"featured_media":13382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_uag_custom_page_level_css":"","footnotes":""},"categories":[497],"tags":[],"class_list":["post-13381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digitalization"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u25b7 What is Enterprise Performance Management (EPM)?<\/title>\n<meta name=\"description\" content=\"Improve your business performance through an Enterprise Performance Management (EPM) solution. ? 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