March 3, 2021

DIGITAL CFO ASIA

Transformative Insights for Finance

Automating EPM Implementations through a Digital Platform

4 min read

Automating EPM Implementations through a Digital Platform

By Kranthi Kumar
Chief Innovation Officer, Red Apricot


Date: 4 May 2020


It had always been a challenge to get Enterprise Performance Management (EPM) implementations executed the way organizations envisaged them and to drive maximum returns on investment. An organizational investment in an EPM initiative is not only in acquiring a piece of technology but ensuring that the implementation of the technology results in value to the organization. 

Many at times it becomes chaotic when envisaged objectives don’t meet business user’s expectations, which lead to slipped timelines and then starts the classical BLAME GAME…..

  • Business users didn’t define the process appropriately
  • The product selected by technology team doesn’t fit our company’s needs
  • Implementation services partner doesn’t have the right competencies

And the best part is No One Takes the Responsibility.

We have witnessed many such unfortunate situations in almost all large EPM implementations across the world resulting in the following.

  • EPM implementations stopped midway
  • Changing Implementation partners in middle of the implementation due to lack of skill and understanding
  • Compromises made on the real objectives of the EPM project
  • Newly implemented system deficiencies leading to Manual and Automated Process
  • Customers choose to live with what can be delivered
  • EPM investment getting wasted because of poor user adoption & complicated systems
  • An unused EPM system and unhappy business users 

The list goes On-and-On

We a team of EPM experts from Red Apricot had put in a good amount of research in figuring out on How can EPM Implementations be made efficient and successful? 

As a result of this research, the team went through the Project Lifecycle of EPM Implementations and identified the problem areas, we have developed an innovative solution to overcome these challenges and make EPM Implementations easy.

Two core themes emerged out of this whole process which is, SPEED and VALUE that defines success of EPM implementations

What does this mean?  

Can customers implement EPM in SPEED? 

In short, the need was to automate various phases of an EPM implementation, be it the blueprinting, the designing, the build and the deploy. Yes, we have an answer to this, needless to say, that automation brings in real flexibility to the whole process and also bring in the entire organization into the EPM process rather than a select few. This is what organisations are looking in this disruptive world, particularly for any Enterprise Performance Management initiative. 

Can we get our EPM Processes the Desired VALUE? 

Many a times we have seen that the EPM implementation process is just a lift-and-shift of existing Excel/Manual Process into a technology system with no real considerations, whether that is the best suited for customer’s today’s and tomorrow’s business/growth challenges.

This approach has to change; organizations need to look into the processes based on industry best practice and relevancy to their business environment. Organizations need to ask themselves if someone could provide them with a choice of industry best EPM process which can be quickly adapted and implemented for their EPM Initiative?

Yes, we have an answer, we provide more than 100+ uses cases to select from for your EPM initiative. 

“The World’s first Digital Platform automating EPM Implementations with SPEED and VALUE 

Based on our experience in implementing 50 plus EPM projects, we have brought out a disruptive change to EPM implementations, by introducing JustPerform.   

This article is provided by Red Apricot. You can view the original article here.

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Red Apricot inspires businesses to transform enterprise performance management processes via an innovative technology-enabled solution methodology. Red Apricot was formed by a team of Enterprise Performance Management (EPM) experts, who felt that current approaches of EPM implementations were simply too slow and inefficient. Drawing from the experience of over 50 large cross-industry, enterprise EPM implementations across South East Asia, Middle East, Australia, and India, the JustPerform cloud based platform was conceived. Headquartered in Singapore, the Red Apricot team is always looking to help enterprises – wherever they maybe – successfully deliver their unique visions
of Enterprise Performance Management. We welcome you to take a closer look at JustPerform and book a demo with us.