Improving a company’s results requires constant analysis. Typically, entrepreneurs seek information outside their businesses, in reports and consultancies specialized in the market in which they operate. If you do this too, it is time to get to know the EPM.
EPM is an English term that means “Enterprise Performance Management”. Its goal is to help the company streamline its processes so that it can correct errors, improve performance and save resources.
It is possible to apply this concept to your company if you use the correct software. Read this article to the end to better understand this topic!
Strategic planning and execution
Planning an action requires data analysis, which means that managers need to study the market numbers or their company’s results. However, your business processes produce a gigantic amount of information that should not go to waste.
By applying the EPM system in the management of this information, the company can organize these data into reports, which will reduce the chance of errors in the performance of projects.
Do you know how much each internal process costs? Can you measure the efficiencies of these activities? If the answer to these questions is “no”, your company needs to start using EPM solutions.
Let’s look at a case: the Brazilian company Unimed used MyABCM’s cost system and was able to find out how much investment was required for each internal process.
With these data, the company can make better decisions so that its internal activities contribute to the business achieving its goals.
The way customer information is organized can make the analysis difficult, and as a result the company has difficulties in using the data to get an overview.
This creates two serious problems: the first makes the company waste money by keeping a team and an inefficient database. The second are the risks that misleading reports can bring to the business.
An example: imagine a company with 20 years in the market. It has records of all the sales made. However, this business is always taken by surprise by negative results – even when sales hit record highs.
Applying the EPM methodology could help this company put the information to work in favor of the business, finding out which stages of the sales process affected the activity.
Business risk management
Everyone knows the importance of seeing a doctor and getting tested at least once a year. These diagnoses can prevent bad habits (such as eating lots of sweets) from turning into illness (like Diabetes).
At the same time, entrepreneurs need to constantly examine their business. Once a mistake is noticed, they make changes to avoid a disaster.
By adopting an EPM system, these studies will be conducted accurately and continuously, providing the manager with security to continue or interrupt a strategy.
As we have seen, the EPM methodology brings countless advantages to an enterprise, correcting failures, reducing costs and improving performance of the business.
Dozens of companies around the world use the solutions developed by MyABCM. Regardless of the market, our company can help your business improve its results. Talk to one of our specialists and understand more about the solutions we develop.