Dresner Advisory Services recently released their 2019 Wisdom of Crowds EPM Market Study report. The report profiles enterprise performance management (EPM) market trends, and ranks vendors on a variety of attributes based on customer reviews and feedback. Planful is proud to be recognized as an Overall Leader in Customer Experience and Vendor Credibility.
Notable EPM Trends
How important is EPM? According to Dresner’s research 87% of respondents indicated that EPM is critical, very important or important to their organization.
The EPM market still has room to run. Dresner found that 62% of respondents are potential future users of EPM software.
Do organizations have sourcing preferences when selecting a potential vendor for EPM solutions?
- 41% of respondents are willing to consider all potential vendors
- 35% of respondents prefer a vendor who is an EPM specialist
- Only 9% of respondents prefer to source EPM directly from their enterprise resource planning (ERP) vendor
Cloud or on-premise? Respondents had a clear preference for cloud EPM solutions compared to legacy on-premise offerings.
Use-Case Priority in EPM
Not surprisingly, annual financial budgets were rated by respondents as the most critical use case for EPM. Headcount, salary and compensation planning, cash-flow planning, rolling forecasts all ranked highly in terms of priority. Use cases such as strategic planning and linking strategic plans to the annual budget were both rated in the top ten of use case priority.
Traditional use cases such as the annual budgeting process and compensation planning are still the cornerstones of EPM within an organization. However, the emergence of strategic plans and models that connect to the annual budget are becoming more prevalent and critical in the planning process. We believe Planful Modeling is well-positioned to handle strategic planning and modeling, with the critical capability of tying back strategic planning to the annual budget. To learn how Planful Modeling works visit Planful Modeling.
What the EPM Market Trends Mean to You
Trends and statistics are great, but what do these trends mean to you? The data indicates EPM is critical to organizations and that an already mature EPM market is poised for continued growth, with cloud-based EPM solutions leading the way.
The Dresner study evaluates each EPM vendor on 33-criteria, which are grouped in the following categories; sales/acquisition experience, value for price, quality and usefulness of product, quality of technical support, quality and value of consulting services, integrity and whether the vendor is recognized.
Planful was recognized as an Overall Leader in Customer Experience and Vendor Credibility, with key improvements in all categories including, product, value, support, consulting, sales and integrity. Planful was also rated best in class for product ease of installation, administration and ease of upgrade to new versions.
We believe Planful is able to continuously achieve high-ratings from customers and industry analysts because our Product Development team is constantly rolling out enhancements to the Planful Platform. To learn how we have improved our UI and ease of use, check out how Planful Increased Usability with a Modern UI.
While EPM technology continues to evolve the Dresner report supports the statement that core functions of EPM are still the most vital to organizations. Simply put we believe that your EPM technology should be cloud-based, powerful, easy to use and fast to deploy.