Designed to monitor and manage business performance, enterprise performance management software, or EPM software, has emerged as the leading candidate for helping organizations improve corporate visibility and drive profitable growth.

The vast majority of IT spending over the last 20 years has been in the name of reducing costs and improving efficiencies. From network infrastructure to ERP systems, e-commerce, and business intelligence (BI), these investments were primarily focused on controlling and reducing the cost of operations. The challenge now is to leverage these prior IT investments to drive business growth through enterprise performance management software.

Not only does enterprise performance management software hold great promise for driving business performance, it is intended to unleash additional value from previous IT investments such as ERP systems, legacy systems, databases, and data warehouses.

AMR Research defines enterprise performance management (EPM) as "a superset of applications and processes that cross the traditional department boundaries to manage the full lifecycle of business decision-making." It combines planning, forecasting, performance metrics, and modeling capabilities with strategy execution.

Despite the terrific promise of enterprise performance management software, it has largely fallen short to this point. With the increased demand for enterprise performance management software, numerous vendors have rushed to deliver application suites. These application suites have been characterized by the packaging together and re-branding of individual point solutions - including BI tools, OLAP databases, and budgeting and planning tools. Their product demos showcase graphical key performance indicators (KPIs), dashboards, and scorecards. However, these solutions have not helped organizations drive breakthrough performance. That's because there's more to EPM software than metrics, budgeting and planning tools, and dashboards.

In order to drive breakthrough results, enterprise performance management software must tie performance metrics, initiatives, resources, and risks to strategic objectives. It must couple the capabilities of a Strategic Management System with robust performance metrics.

Contact us to find out how enterprise performance management software from CorVu can benefit your business.