At a high level, one needs to bring together technology and product portfolios with the people and ecosystem partners necessary to increase business performance and minimize risk. A flexible Enterprise Performance Management (EPM) solution can and provide the best value for your stakeholders.
1. EPM
EPM- WEAVE YOUR BUSINESS SEAMLESSLY
At a high level, one needs to bring together technology and product portfolios with the people and
ecosystem partners necessary to increase business performance and minimize risk. A flexible
Enterprise Performance Management (EPM) solution can and provide the best value for your
stakeholders.
Businesses are looking at automating their processes like never before. Efficient month close,
reducing budget cycles, improving planning and forecasting, and ultimately getting trusted
numbers and fast insights are essential objectives of the CFO’s office.
At a high level, one needs to bring together technology and product portfolios with the people and
ecosystem partners necessary to increase business performance and minimize risk. A flexible
Enterprise Performance Management (EPM) solution ensures Integration with multiple source
systems. It provides a platform that addresses complex enterprise planning, financial analysis,
and modeling requirements of an organization and acts as a critical decision support system.
Excel is the most popular and preferred tool by professionals who deal with Financial information,
given its Flexibility and Familiarity. But it also has inherent drawbacks concerning Data
Integration, security, auditability, standardization, and scalability.
Multiple enterprise applications in the market provide a solution around Financial Consolidation,
Budgeting, Forecasting, and Financial Reporting that offer process-specific functionalities with an
essential database, workflow automation, and analytics. Current EPM solutions bring in many
advantages that are in line with the contemporary market realities and compatible with the latest
Technology landscape. On the other hand, these are comparatively rigid and lack the flexibility we
have with excel for any ad-hoc analysis or financial modeling.
All major OEMs have EPM solutions – SAP BPC, Group Reporting and SAP SAC Planning, Oracle
Hyperion, Oracle EPM Cloud, IBM Cognos TM1, Anaplan, OneStream, etc. These platforms can be
connected to any source system and summarize the Financial data in the desired format.
Seamless Integration with diverse source systems is key to the success of an EPM solution.
These may include ERP systems, Workforce Management Systems, CRM tools, and other
operational data management sources. Clearly understanding the flow of data and usage of
appropriate tools and connectors ensures the entire process’s efficiency.
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2. Inputs to the EPM platforms can be through multiple sources or manual entry into the tool.
Depending on the responsibilities and the roles, these inputs might have to be collected from
various departments, divisions, cost centers, profit centers, entities, and individuals. EPM Solution
provides a platform to collate all these inputs within the models using the above dimensions. A
security matrix can be designed to ensure the right people can access appropriate information
and build a controlled environment through workflows, which are generally missing in excel based
solution.
Covid-19 has impacted almost every business globally, and lockdowns and self-imposed
restrictions have drastically affected the Revenues. Companies are very cautious with their
investments and continuously review the market conditions and strategize their plans accordingly.
There is a pressing need for more frequent business performance reviews versus the Budget /
Targets and dynamically formulate business decisions. With shrinking topline and Fixed Cost
being constant, it can be a huge ordeal to manage the earnings’ impact. Visibility to controllable
and uncontrollable costs and their regulation becomes key to stay competitive. Overall, COVID-19
has added more volatility to the entire Budgeting and Forecasting process. A flexible EPM solution
empowers the leaders in quickly incorporating these frequent changes in the strategies into the
systems and percolate it down for execution.
We have supported our customers to deal with these uncertainties through our highly flexible EPM
solutions and innovative approaches to deal with new challenges.
Why Techwave?
We have been a leading System Integrator and frontrunner in the EPM space for almost 15 years
and have multiple success stories to our credit. We’ve partnered with our customers in
implementing robust tool-agnostic corporate performance management solutions, leveraging our
accelerators and deep functional expertise. Techwave’ s integrated Enterprise Performance
Management (iEPM) delivers market-leading solutions and applications for companies of any size
to bridge the gap between the ordinary and the extraordinary. Our EPM solutions cover financial
consolidation, planning, budgeting, forecasting, and integrating information from all levels of your
organization and enable timely, accurate, and dependable insights into the business performance.
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