ERP Solutions

Enterprise Performance Management Software Solutions Get a Thumbs Up

Enterprise Performance Management (EPM) software solutions are growing like crazy in the information technology realm.  These solutions are also called Business Performance Management (BPM) and Corporate Performance Management (CPM).  Enterprise Performance Management software solutions enable managers and executives to manage the performance of their company and change metrics to improve future performance.  Enterprise Performance Management software solutions have a series of metrics that measure company activities, trends, gains and losses.  These software solutions must be integrated with other company applications in order to pull reference data for accurate reporting.  In fact, reporting and analysis is one of the most important capabilities of EPM software solutions.  Reporting and analysis includes dashboards, scorecards, standard reporting and queried reporting.  Data for dashboards, scorecards, standard reports and queried reports is stored in a centralized location called the data warehouse.

Gartner predicted long ago that over eighty percent of publicly traded businesses will have an EPM solution by 2008 and they were right.  In fact, thanks to our recent recession companies are more than ever interested in Enterprise Performance Management software solutions to integrate with financial reporting needs.  The more information executives have, the better they can stave off the effects of this down economy.  And, Enterprise Performance Management software solutions provide that extra information needed to make wise decisions for the present and the future.  Companies with Enterprise Resource Planning or ERP software solutions typically find that they can easily integrate an ERP software solution.  In fact, many Enterprise Resource Planning vendors offer an Enterprise Performance Management software solution as well.  For instance, ERP vendor Oracle offers a plethora of ERP solutions as well as EPM solutions.

When you decide it’s time to seek an Enterprise Performance Management software solution, take your time and research as many vendors as you possibly can.  However, if you already have an ERP software solution you might want to go with the same vendor.  Not all ERP vendors offer EPM software solutions, but if yours does than you’ll find integration to be much less painful.  Many Enterprise Performance Management software vendors provide demos of their solutions on their websites.  It’s a good idea to demo as many EPM solutions as you can so that you can determine whether or not you like the look and feel of each.  An EPM solution can be a pricy investment so don’t take the selection process lightly.

Written by :

kristine H