What is EPM?
EPM stands for Enterprise Performance Management and is supported by software that primarily enables group consolidation, reporting, forecasting opportunities, providing analysis and business insight. It is used to coordinate strategy and execution for an organisation as well as provide regulatory compliant reporting for listed markets or shareholders. The different forms of EPM software are designed to provide a company’s management with accurate consolidated figures on which to base their decisions, forecasts and long-term strategic investments. It can be used to accurately look at the past and identify areas for growth and capitalise on opportunities whilst adhering to a yearly budget. There are a large number of EPM tools available, each with a slightly different focus and value proposition.
Popular EPM suites:
Oracle EPM – formerly named Oracle Hyperion after the acquisition of Hyperion software, is one of the widest used product sets globally. Used for consolidation, reporting and forecasting purposes, it includes HFM (Hyperion Financial Management), Hyperion Planning, Hyperion Essbase, HPCM, TRCS amongst others and the later cloud versions FCCS and PBCS.
OneStream – Is a next generation SaaS solution offering financial consolidation, reporting, planning and analytics capabilities in one unified platform. Eliminating the requirement of integration tools, OneStream software offers fast and error-free processes between its multiple solutions. With its added ‘MarketPlace’ app it offers additional solutions that you can switch on/off as required.
Anaplan – is an American software vendor and their flagship product, Anaplan is a connected planning platform that enables organisations to progress decision making by connecting people, financial planning, forecasting and data across the whole company.
IBM Planning Analytics – formerly named IBM Cognos TM1, is widely known for its powerful calculation engine designed to implement robust planning, budgeting, and forecasting solutions. The latest version has in-built AI functionality to bring speed and agility to your planning process, allowing for more collaboration and insight across your entire business.
Other EPM software vendors include Tagetik, Workday Adaptive Planning, SAP EPM, Prophix, Vena, Longview, Jedox, Unit4 Prevero, and many more.
What kind of skills do people who work within EPM need?
Like any technology-based role, working with EPM products requires a combination of technical, hard and soft skills. These include:
EPM technical skills:
- Familiarity with DS and Algo
- Basic SQL
EPM soft skills:
- Good written and verbal communication skills
- Strong work ethic
- Ability to multitask
- Problem solving
- Willing to learn new things
The different types of EPM job roles:
- EPM Project Directors
- EPM Systems Managers
- EPM Project Managers
- EPM Functional Consultants
- EPM Technical Consultants
- EPM Developers
- EPM Solution Architects
- EPM Systems Administrators
- EPM Support Consultants
- EPM Analysts