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Enterprise Performance Management (EPM)

EPM refers to the process in which planning, reporting, and business intelligence (BI) software analyzes performance measures such as KPIs and ROIs to provide business insights. Through this software, businesses can do everything from planning and budgeting to forecasting and finalizing finances. An EPM can be used across departments even though the responsibilities of each department may be different. EPM eliminates the need for multiple and different platforms to conduct processes like planning, reporting and budgeting.

What Small and Midsize Businesses Need to Know About Enterprise Performance Management (EPM)

SMBs can find it complicated, time-consuming, and expensive to use multiple platforms that cannot be integrated with one another. For example, they may be using one software type for inventory and another for HR needs. Because the two interfaces cannot communicate, there is a higher chance that there may be errors made when the information is transferred between platforms. With EMP, a local SMB can trade in all of their pre-existing applications (and the costs associated with them) into one comprehensive system.

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