When it comes to enterprise performance management (EPM) platforms, there are quite a few that manage to provide the right software solutions for strategic planning needs.
EPM platforms help high-level enterprises when it comes to the resource planning decision-making process.
If companies are depending on lethargic performance data, slowing down its accuracy, then it would be ideal for them to consider enterprise performance management technology.
And when it comes to the best EPM platforms, they elevate enterprise performance across a broad area, from ecommerce reporting processes and financial forecasting to supply chain efficiency and strategy creation.
Before we list the current best-performing EPM platforms, let’s quickly go over what they actually do, and how they differ from enterprise resource planning (ERP) platforms.
At the core, EPM platforms are either cloud-based or on-premises digital tools that are designed to collect and manage metrics that connect to financial performance as well as processes related to business planning.
They tend to also cover budgeting and profitability in order to help companies analyze and understand data for workflow methodologies.
When it comes to the difference between EPM software and ERP software, ERP addresses operational processes inside a company. EPM addresses streamlining business management processes.
As such, ERP platforms are more likely to help with cash management, financial reporting, and budgetary management. On the other hand, EPM platforms are more likely to help with detailed operational plans, complex budget maintenance and enterprise planning as well as support for capital asset planning.
The key features of EPM platforms include: advanced KPI monitoring; supply chain effectiveness reports; human capital management reports; financial consolidation and closing capabilities; quality data visualization; and robust budgeting and forecasting.
And now onto the list of the best EPM platforms of 2021.
1. Workday Adaptive Planning
Wins the title for versioning analysis
2. Oracle EPM Cloud
Wins the title for financial close solutions
3. OneStream XF
Wins the title for manufacturing operations
4. Infor d/EPM
Wins the title for user-friendly modeling
5. ARES PRISM
Wins the title for best fit for executives
6. Axiom EPM
Wins the title for cost management
7. EPM Live
Wins the title for Microsoft SharePoint integration
Wins the title for enterprise project portfolio management
Wins the title for supply and demand planning
Wins the title for retail analytics