Enterprise Performance Management (EPM)
In an era where everything is evolving increasingly quickly (see nextgen AI) and where it’s already difficult to determine the best path forward for reporting and optimization of data and processes, it’s no different in the world of performance management.
Client processes and platforms are fragmented and time-consuming, while current technology allows for their optimization. For this, they need a specialized partner, and that’s where we come in.
210
HOURS PER YEAR
are dedicated by managers to performance activities.
58%
OF ENTERPRISES DECLARE
that their current performance processes are not effective.
25%
TIME REDUCTION
of budgeting, project delivery, improvement of forecasts and assurance.
But why Enterprise Performance Management (EPM)?
As a CFO or head of a finance department, you are often confronted with a multitude of tools and numerous manual tasks. The consequence? A huge waste of time and resources to retrieve and prepare data for accurate forecasting, budgeting, and consolidation. We can do better!
So what is the solution?
There is no single answer to this question. That’s why it’s essential that we begin to consider together a solution that not only prepares your company for the future but, at the same time, addresses current problems. Where we try to make a difference is by implementing this new strategy, these new tools with minimal impact on daily activities and processes. This allows you to innovate while continuing to manage your business safely.
Optimization, in other words!
But optimization must always be done in a responsible, sustainable, and secure manner. This is where a good EPM strategy and the right choice of tool(s) can truly make a big difference for your finance department.
Your finance department deserves more.
There is no reason to waste time and resources with a cumbersome and fragmented system. Switch to an optimized process that offers numerous possibilities for expansion in the future. Similarly, the platform must be capable of responding to the latest innovations, including AI.
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FAQ
Thanks to EPM (Enterprise Performance Management) software, companies can align their strategy with the execution of their activities. The technology leverages data generated by systems, processes, and activities across the organization. The resulting analyses help identify business drivers to develop new commercial insights and make quick decisions or take action.
EPM (Enterprise Performance Management) systems can be deployed on-premises, as has long been the case in the industry. However, EPM solutions can also be deployed in the cloud, as recent implementations show that many organizations are increasingly opting for cloud-based solutions.
CPM is a process-oriented platform where activities are driven by the finance department, with reach across all possible company departments. Management and statutory consolidation fall under finance. Budgeting and forecasting can remain within finance (FP&A – Financial Planning & Analysis) and key departments (e.g., HR for workforce planning) or can be transitioned to XP&A.
The main difference is that CPM (Corporate Performance Management) focuses specifically on applying performance management at the corporate level for finance teams, while EPM (Enterprise Performance Management) looks at the performance of the entire organization, extending beyond finance departments to sales, human resources (HR), marketing, and more.
The role of CPM in the field of Business Intelligence (BI) often creates some confusion. In reality, it is a subset of BI that monitors and manages a company’s performance based on financial key performance indicators (KPIs) such as revenue, return on investment (ROI), overhead costs, and operational expenses. As such, CPM relies on data provided by BI, since the final output of BI systems consists of metrics and dashboards, which themselves serve as the starting point for the CPM process.
XP&A is a planning approach that builds on the best financial planning and analysis (FP&A) capabilities, such as continuous planning, forecasting, advanced analytics, and performance tracking, and extends them across the entire organization. However, XP&A goes beyond FP&A by considering additional factors that are not included in a financial report, such as operational readiness, customer satisfaction, employee engagement, customer churn, and new customer acquisition.
Director Finance Transformation & Performance
Beyond support, Micropole guides the client step by step in designing and aligning their strategy and processes with the chosen tools, and is responsible for integrating them into the overall business architecture.