An Enterprise Performance Management (EPM) solution can help finance teams automate critical processes to create better efficiencies, accelerate the time to analysis, and align the entire organization around a single plan. In particular, executives tend to view their current finance processes as draining and labor-intensive – but with the right EPM, finance teams can reduce cost, save time, and above all make reporting and analysis easier for the entire organization. We evaluated eight ‘must-haves’ you should consider when you’re evaluating an EPM solution going into 2018. Here are the highlights:
- Ensure reporting is comprehensive enough to meet the needs of all budget owners – not just finance. Enabling budget owners to truly own their day-to-day budgets will eliminate the reporting management drain on finance and ensure the entire organization is on the same page.
- Integration capabilities are key to success. Budget owners often pull data from a variety of sources to manage and make budget decisions. Assess integration capabilities to ensure you can reliably integrate with other systems, such as customer relationship management (CRM), marketing automation, ERP, and others.
- Look for familiar functionality to speed onboarding time. Excel has its limitations, but the reality is you’re probably pretty comfortable with it. Look for solutions that provide familiar functionality to accelerate implementation and encourage adoption across the business.
To see all eight ‘must-haves’ in EPM, check out the infographic. Leveraging an EPM solution creates more time for value-added analysis – take the time to carefully evaluate your options and you’ll be well on your way to getting your organization into peak shape for 2018.