By jmorourke on May 28, 2013
As we look at the enterprise performance management (EPM) market, it’s clear that the fundamentals of EPM haven’t changed in the last 5 – 10 years. EPM is still about linking strategies to plans and execution, monitoring financial and operational results against goals, and applying analytics to understand key trends, make better decisions and drive enterprise-wide performance.
What has changed is the world that we operate in. Although economic growth is slow, business cycles are faster so planning and forecasting needs to be more frequent. There’s more data available to analyze and leverage for planning and reporting – both internally and externally generated. Stakeholders have higher expectations. That includes external stakeholders who want more quantitative and qualitative disclosures about the organizations they are investing in, as well as internal management stakeholders who are demanding more frequent insights into financial and operating results. Even the workforce has changed, for instance Millennials (those born between 1980 and 2000) were raised on technology and have less patience for systems that are outdated or don’t respond quickly. In addition, technology is changing with the shift to Cloud, Mobile and Social computing. These new technology enablers that are available today create many opportunities to drive innovation and improve efficiency if leveraged correctly.
So while today’s market presents a number of challenges to achieving the goals of CEOs and CFOs, there are also opportunities to unlock the potential of their organizations to drive profitable growth. These include:
- Eliminating or investing more in under-performing products
- Putting more focus on under-served customer segments
- Better utilizing existing staff and capacity
- Putting the excess cash on the balance sheet to work – investing in new markets, products, and services
- Creating more efficient business processes and reducing IT complexity to reduce costs
Many organizations are finding that an integrated EPM platform can help them break down the barriers to success, linking business goals to results and unlocking business potential. With a world class EPM platform organizations can deliver the desired outcomes needed to succeed in today’s market; Aligned Objectives, Accurate Forecasts, Confident Close and a more Accountable Enterprise. Plus they can address the needs of Finance, IT, as well as line of business managers to ensure more consistent decision-making.
To learn more about how an integrated EPM platform can help your organization unlock its business potential, download our new white paper: Enterprise Performance Management – Unlocking Business Potential.
Also, learn how the latest release of Oracle Hyperion EPM helps organizations unlock their business potential, here’s a link to the press release.
And for more general information about Oracle Hyperion EPM please go to www.oracle.com/epm.