Choosing a cloud-based Enterprise Performance Management (EPM) system allows an organization to enjoy the benefits of centralized planning and performance management without the up-front investment, risk, and complexity that come with on-premise software.
At first glance, spreadsheets seem like the obvious choice for planning and performance management. They're easy to use and easily distributed; and nearly everyone has a copy of Excel or its equivalent on his or her desktop. In reality, however, using Excel to generate and maintain your critical planning data is quite expensive in terms of resources and risk. Email handoffs and manual reconciliation are incredibly time-consuming; Excel sheets are notoriously error-prone; and sharing sensitive planning information via email poses serious security risks.
Enterprise Performance Management (EPM) systems allow businesses to streamline their planning and performance management processes, keep sensitive data secure, and reduce the potential for human error. But many companies are hesitant to adopt EPM software for fear of sky-high license fees and long, risky implementations traditionally associated with on-premises EPM applications.