Enterprise Performance Management

In addition, EPM, which is also called corporate performance management (CPM), assists companies in closing their books by helping them deal with consolidation, financial reporting and disclosure.

EPM software’s tools help the CFO manage revenue and cost over at least a five-year horizon. It goes beyond just day-to-day management of the financial function. It promotes the allocation of scarce resources to support the organization’s budgeting, planning and strategy processes. Much of this analysis comes from using advanced business intelligence (BI) tools.

While most EPM suites have capabilities for reporting and analysis, third-party BI tools are more powerful. Besides the products from five large vendors — IBM Cognos, Oracle Hyperion, SAP Business Objects, Infor and SAS — numerous products exist from vendors such as Anaplan, Information Builders, MicroStrategy, QlikTech, Quantrix and Tableau Software that offer sophisticated tools for multidimensional analysis.