Enterprise Performance Management
Enterprise performance management (EPM) is the integration of multiple managerial methods to improve an organization’s strategic and operational performance. -Gary Cokins, Executive In Residence – Institute of Management Accountants (http://www.imanet.org)
The Managerial Methods mentioned below – run on software such as ERP systems, CRM systems, Business Intelligence / Analytics systems, Visualization platforms, cloud-based analytics + workflow solutions etc and need the right CULTURE and CHANGE MANAGEMENT to yield SUPERIOR VALUE CREATION as a RESULT.
The multiple managerial methods include (not limited to)
- Driver-based Business Planning, Rolling Forecasts
- Activity Based Costing and Time Driven Activity Based Costing
- Strategy Maps and Balanced Scorecards
- Enterprise Risk Management Integrated into the Strategic Planning process
EPM is NOT a new methodology, but an integrating framework of existing methodologies and tools. It is as much about making the components work together in a co-ordinated sequence – as it is about the individual components themselves – to deliver the promise of value creation for all stakeholders.
The sequencing of the methods is unique to each organization’s circumstances – including it’s Mission, Vision and Strategic objectives.