Enterprise Performance Management (EPM)
Managing business performance in today’s complex and rapidly changing business environment is crucial for any organisation’s short-term and long-term success. But ensuring compliance with the continual changes to regulatory requirements, and the ability to plan and monitor performance against plans and budgets, is quite challenging.
There are several roadblocks attributing to delivering business insights, which are critical to decision-making.
Do any of these apply to you?
- Long financial planning and budgeting cycle times that delay decision making
- Lack of rolling forecasting capabilities to respond more quickly to business needs
- Financial drivers and metrics (KPIs) that don’t align with strategies
- Long close cycles with a lack of trust in data, extensive reconciliation efforts, multiple user interfaces, and highly customised reporting efforts
- Too much time spent on basic data collection tasks due to poor and inefficient reporting tools, manual processes, excessive use of spreadsheets
Enterprise Performance Management (EPM) is a mechanism for bringing insight and agility to an organisation’s management, by visualising the right data, producing the right KPIs quickly, at the right time for the right decision makers, through:
- Business Planning
- Budgeting and Forecasting
- Financial Modeling
- Working Capital Management / Optimisation (Customers, Stocks, Vendors)
- Cash Management & Forecasting
- Assessment of MIS (Validation of reporting requirements, Data source analysis, Software selection & validation)
- Development of the Organisational Strategy (Objectives, Goals, Plans, Projects) and monitor corporate performance using KPIs
- Customer Value Measurement
- Development of Management Reporting tools and Processes
Successes
- Our client – a large group of companies that provide support to the Greek Capital Market - wanted to optimise and automate its financial consolidation processes. Our team adopted a transform methodology for the successful implementation of the project and delivered benefits to the client, including:
- One source of the truth—consistent and accurate information across reports
- Improved what-if analysis with financial and non-financial measures (KPIs) to give a holistic approach to performance management
- Variance reporting – Compare plans versus actual results and determine causes of variances
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