Insights into the Future of Enterprise Performance Management
Emerging Trends in Enterprise Performance Management
In the realm of enterprise management, understanding the evolving dynamics is crucial. Recent insights reveal that support for Enterprise Performance Management (EPM) has surged significantly, with nearly 89% of organizations now classifying EPM as either critical or highly important. This marks a substantial increase compared to the previous year, highlighting the growing recognition of EPM's role in shaping business success.
The Role of EPM in Modern Organizations
Dresner Advisory Services conducted a comprehensive assessment through their annual EPM Market Study, providing a detailed overview of how organizations utilize EPM systems. These systems are essential for anticipating the impacts of both internal and external influences on future performance and overall business outcomes.
Key Findings on Usage Trends
The study outlines critical trends in EPM usage, focusing on various aspects such as deployment intentions, software longevity, and implementation strategies. Interestingly, it reveals that the office of finance remains the primary user of EPM software. However, an increase in EPM usage across different roles within organizations signals a broader acceptance of the technology beyond traditional finance functions.
AI's Impact on EPM
The introduction of artificial intelligence (AI) within the EPM landscape has generated mixed reactions among users. Approximately 60% of survey respondents expressed a positive outlook on AI's influence on EPM, which is a notable change from the previous year's skepticism. This shift indicates a mounting confidence in AI's capability to enhance EPM processes.
Shifting Dynamics and Future Directions
Experiencing a transformation, the EPM market showcases significant developments. Analysts from Dresner Advisory, including notable figures such as John Van Decker and John Hagerty, elucidated this evolution. They noted that the adoption of AI features is gradually increasing, alongside a noticeable transition from fixed annual budgets to more flexible rolling forecasts.
Individual Supplier Assessments
The EPM Market Study also encompasses a thorough evaluation of 15 key suppliers in the EPM solutions market. Utilizing a signature 33-measure evaluation approach, the report features a radar chart rating system that enables year-over-year performance comparison among vendors. This comprehensive analysis serves as a valuable resource for organizations considering different EPM solutions.
A Holistic View of the Market
By gathering data from various sectors and roles, the Wisdom of Crowds research offers a well-rounded perspective of current deployment trends and user experiences within the EPM space. This collaborative effort ensures that organizations can make informed decisions based on real-world insights.
About Dresner Advisory Services
Dresner Advisory Services is renowned for its thought leadership in analytical data infrastructure, analytics, business intelligence (BI), and performance management solutions. Founded by Howard Dresner, the firm remains dedicated to offering valuable insights to businesses seeking to optimize their operational effectiveness through innovative management practices.
Frequently Asked Questions
What is the significance of the latest EPM study?
The study highlights a notable rise in the importance of EPM, with many organizations identifying it as critical to their success.
Who primarily utilizes EPM software within organizations?
While finance teams remain the primary users, EPM adoption is also increasing in various other roles across organizations.
How does AI impact EPM?
AI's integration into EPM systems is perceived positively by a majority, contributing to improved functionalities and user experiences.
What are the changing budgeting practices in EPM?
Businesses are gradually moving from traditional annual budgeting formats to more adaptable rolling forecasting methods, reflecting a desire for flexibility in planning.
What does the supplier evaluation entail?
The evaluation assesses 15 EPM solution providers based on diverse criteria, allowing for a comprehensive comparison of their offerings.
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