Are you tired of relying on error-prone spreadsheets and manual processes to manage your organization’s performance? Do you struggle to make data-driven decisions and align financial and operational plans? Enterprise Performance Management (EPM) solutions can help. But with so many vendors to choose from, it takes time to figure out where to start.
In this blog, we’ll review five leading EPM vendors – Board, SAP, Oracle, Anaplan, and OneStream – to help you make an informed decision.
Best Enterprise Performance Management (EPM)Vendors – Reviewed
Board
Board is a cloud-based EPM platform that offers a unified solution for business intelligence, corporate performance management, and business analytics. Its key features include:
Integrated Business Intelligence: The Board provides a single platform for reporting, analytics, and planning, eliminating the need for multiple tools.
Advanced Analytics: Offers predictive analytics, machine learning, and artificial intelligence capabilities to support data-driven decision-making.
Cloud-based: Scalable and secure, with automatic updates and maintenance.
Strengths:
- User-friendly interface
- Robust analytics capabilities
- Strong customer support
Weaknesses:
- Limited industry-specific solutions
- It can be expensive for small to medium-sized businesses
SAP
SAP is a well-established player in the EPM market, offering a range of solutions, including SAP EPM, SAP BPC, and SAP Analytics Cloud. Key features include:
Comprehensive EPM Suite: Offers a broad range of EPM capabilities, from planning and budgeting to financial close and disclosure management.
Integration with SAP ERP: Seamless integration with SAP ERP systems, enabling real-time data exchange.
Advanced Analytics: Includes predictive analytics and machine learning capabilities.
Strengths:
- Comprehensive EPM suite
- Strong integration with SAP ERP
- Large community of users and partners
Weaknesses:
- Complex implementation and maintenance
- Can be expensive
Oracle
Oracle offers a range of EPM solutions, including Oracle EPM Cloud, Oracle Hyperion, and Oracle Essbase. Key features include:
Cloud-based EPM: Scalable and secure, with automatic updates and maintenance.
Advanced Analytics: Includes predictive analytics, machine learning, and artificial intelligence capabilities.
Integration with Oracle ERP: Seamless integration with Oracle ERP systems.
Strengths:
- Comprehensive EPM suite
- Strong integration with Oracle ERP
- Robust analytics capabilities
Weaknesses:
- Complex implementation and maintenance
- Can be expensive
Anaplan
Anaplan is a cloud-based EPM platform that offers a connected planning solution for finance, sales, marketing, and operations. Key features include:
Connected Planning: Enables real-time collaboration and data exchange across departments.
Advanced Analytics: Includes predictive analytics and machine learning capabilities.
Scalable and Secure: Cloud-based, with automatic updates and maintenance.
Strengths:
- User-friendly interface
- Robust analytics capabilities
- Strong customer support
Weaknesses:
- Limited industry-specific solutions
- It can be expensive for small to medium-sized businesses
OneStream
OneStream is a cloud-based EPM platform that offers a unified solution for financial close, planning, and analytics. Key features include:
Unified EPM Platform: Combines financial close, planning, and analytics in a single platform.
Advanced Analytics: Includes predictive analytics and machine learning capabilities.
Scalable and Secure: Cloud-based, with automatic updates and maintenance.
Strengths:
- Unified EPM platform
- Robust analytics capabilities
- Strong customer support
Weaknesses:
- Limited industry-specific solutions
- Can be expensive for small to medium-sized businesses
Conclusion
Each of these enterprise performance management vendors has its strengths and weaknesses, and the best choice for your organization will depend on your specific needs and requirements. When evaluating these vendors, consider factors such as:
- Industry-specific solutions: Does the vendor offer solutions tailored to your industry?
- Integration with existing systems: Will the vendor’s solution integrate with your existing ERP, CRM, or other systems?
- Analytics capabilities: Does the vendor offer advanced analytics capabilities, such as predictive analytics and machine learning?
- Scalability and security: Is the vendor’s solution scalable and secure, with automatic updates and maintenance?
- Cost: What is the total cost of ownership, including implementation, maintenance, and support?
By carefully evaluating these factors and considering your organization’s unique needs, you can choose the best EPM vendor to support your business goals and objectives.
Still confused? Connect with our Expert EPM Consultant today!
