Enterprise Performance Management: Making it Work

Gary Cokins
  • EDPACS, December 2013, Taylor & Francis
  • DOI: 10.1080/07366981.2014.865954

Enterprise and Performance Management (EPM) Methods for Improving Financial Performance

What is it about?

Enterprise and corporate performance management (EPM/CPM) is the integration of control and improvement methods imbedded with analytics. Its methods include the strategy map, balanced scorecards, costing (including activity based cost management), driver-base budgeting and rolling financial forecasts, and resource capacity requirements planning. These methods fuel other core solutions such as customer relationship management (CRM), supply chain management (SCM), risk management, and human capital management systems, as well as lean management and Six Sigma initiatives.

Why is it important?

Today companies are seeking a competitive advantage. Many believe this is accomplished by offering new products and service-lines and delivering better services for customers. These do work, but arguably a more impacting competitive advantage comes from making better decisions using EPM/CPM methods that provide better information.

Perspectives

Mr Gary Cokins
Analytics-Based Performance Management LLC

Most companies are far from where they want and need to be when it comes to implementing EPM/CPM methods and analytics and are still relying on gut feeling, rather than hard data, when making decisions. What is needed today is the seamless integration of managerial methodologies. Volatility and complexity are the new normal.

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http://dx.doi.org/10.1080/07366981.2014.865954

The following have contributed to this page: Mr Gary Cokins