Driving Performance Through EPM

Enterprise Performance Management (EPM); also known as Corporate Performance Management (CPM), Business Performance Management (BPM), Integrated Peformance Management (IPM), is a strategic approach to managing and optimizing the performance of an organization across all its functions and departments. It encompasses a set of methodologies, processes, and technologies aimed at aligning business activities with the organization’s goals and objectives. EPM involves various activities, including financial planning, budgeting, forecasting, reporting, analysis, and decision-making, with the overarching goal of driving operational efficiency, maximizing profitability, and enhancing overall business performance. By integrating financial and operational data, EPM enables organizations to monitor key performance indicators (KPIs), track progress towards strategic goals, and make informed decisions to improve performance and achieve sustainable growth.

What is xPM?

The term “xPM” refers to any letter used above (E, C, B, I) to encompass all of what the vendors do, and it can also mean “eXtended” in that it also encompasses things like Operational Business Intelligence, Enterprise Risk Management, Analytic Applications and other value-added management system solutions.

Gartner Magic Quadrants - EPM

In Q3 of 2023, Gartner published two Magic Quadrant reports that are important for evaluators in the office of Finance. This includes:

Gartner® Magic Quadrant™ for Financial Close and Consolidation Solutions1

Gartner® Magic Quadrant™ for Financial Planning Software2