Why you need an EPM solution

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Publication Date: 08/05/2020
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What can EPM do for my business?

EPM (Enterprise Performance Management) software helps organizations to better analyze, understand, and report on the business. EPM are designed for a range of planning, budgeting, and forecasting business processes that span multiple functional areas from finance to sales.

By switching to EPM, it can help the organization to:

How does EPM help cut costs?

(The numbers above are samples only)

The example above requires more labor costs due to the high volume of employees needing to take a role to gather all the data, then put it together manually within excel file, calculate it, then generate a report out of it. It will take longer time and hard work to achieve the end result.

With Enterprise Performance Management software, it will decrease the number of employees to work on the same task and help the organization to minimize the time frame spent on generating similar tasks (example: Balance Sheet or Expense reports). The organization can then direct other employees to work on other tasks, in order to balance all employees’ working hours and increase productivity.

(The numbers above are samples only)

EPM applications provide a user-friendly interface and many applications have built-in calculation and functionalities. It helps boost the work progress and helps employees proceed with their tasks. In other words, it helps make employees happy, have a steady workflow, and enhances their work environment which will definitely do the job in creating a happier employee.

Nevertheless, by utilizing EPM applications, it can help the organization to track down detailed financial situations. With efficient forecast or budget planning, it can help the organization to better monitor their expenses and budget, and instead of Excel-based process, EPM provides forecasts ending cash which can potentially save up additional net interest earned. The assets can then be used in other areas to grow business.

Author: Henry Lin - Business Intelligence Consultant

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