EPM in the Cloud

July 30, 2017

Enterprise performance management (EPM) is a process and software system designed to help organizations (i.e., companies, government entities, educational institutions, and non-profits) achieve their financial goals by linking their strategies to their plans and execution. Sounds easy, right? As anyone who has worked in a business enterprise knows, this can be challenging as an organization grows and evolves beyond its roots. To support this, EPM includes the following management processes:

  • Budgeting, planning, forecasting, and modeling 
  • Consolidating results and closing the books on a periodic basis 
  • Reporting results to internal and external stakeholders and analyzing performance
 
The objective of EPM is to ensure strategic goals and objectives are clearly communicated and understood by managers, and are reflected in their budgets and plans. Getting all the various departments of an organization aligned around goals and objectives is a critical starting point. 
 
 

 

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