Understanding Market Dynamics Enables More Effective EPM Investments
An enterprise performance management (EPM) system allows an organization to plan how internal and external factors could impact future business performance and outcomes. Core capabilities of an EPM system include:
· Strategic planning and forecasting
· Operational planning and forecasting
· Financial planning and forecasting
· Reporting and analytics for setting business goals and monitoring performance against those objectives.
The Dresner Advisory Services 2019 Wisdom of Crowds® EPM Market Study identifies key factors in adoption and use of EPM and indicates that the market for EPM systems continues to evolve. Both IT professionals and IT vendors need to understand these market dynamics. IT professionals need to ensure EPM investments complement other business intelligence (BI) and analytics investments. Vendors need to ensure product plans and investment priorities meet current and future EPM market needs.
· The market for EPM software continues to mature and provides opportunity for growth. Fifty-two percent of organizations we surveyed are potential future users of EPM.
· Although potential EPM adoption plans are similar across all organization sizes, primarily large and very large organizations use EPM software in 2019. Current use and planned adoption of EPM software varies considerably by industry.
· Cloud (SaaS and hosted/private cloud) represents the preferred deployment option for EPM software. However, SaaS is not the most important deployment option overall.
· The majority of EPM deployments are at country, regional, or global levels, with 36 percent being at the global level.
· Although importance ratings vary considerably by industry, organizations of all sizes rate EPM as an important technology.
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