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 – Oracle EPM, formerly named Oracle Hyperion after the acquisition of Hyperion software, is the widest used product set globally. It includes HFM (Hyperion Financial Management), Hyperion Planning, Hyperion Essbase, HPCM, TRCS amongst others and the later cloud versions FCCS and PBCS.
Hyperion – Oracle bought Hyperion and it has subsequently been rebranded Oracle Hyperion and more recently, Oracle EPM. It is used for consolidation, reporting and forecasting purposes and is available in on-premise or cloud versions. The latest cloud applications are FCCS (for consolidation) and PBCS for forecasting.
Anaplan – 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.
SAP – SAP EPM products are designed to allow organisations to reduce their costs, improve revenue, profitability and reduce risks by planning, forecasting, consolidating and budgeting. SAP products include BOFC (formerly Cartesis) and BPC.
Other EPM software vendors include Tagetik, Adaptive Insights, OneStream, IBM Planning Analytics, Prophyx, 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