Host Analytics provides a single, cloud-based Enterprise Performance Management (EPM) platform that has everything you need for planning, consolidation, modeling, reporting, and analytics in one place and accessible to everyone from anywhere. We help you automate these everyday processes to accelerate insights and shorten the time it takes to turn those insights into action. The result is a company that is nimble and efficient, regardless of size or complexity.
It takes a lot of software to manage the operations of an entire enterprise. In fact, two of the most useful and utilized solutions, in order to do so, are EPM and Enterprise Resource Planning (ERP) software. As a leader in both Gartner Magic Quadrants For Corporate Performance Management, Host Analytics is committed to increasing your organization’s performance and easily managing your operations through their EPM cloud-based platform.
So, what exactly are EPM and ERP solutions? What are their similarities, and how are they different from each other? In a blog post from Host Analytics, ERP software is described as a system designed to process transactions and keep track of the resources within an organization. EPM software, on the other hand, is a suite of applications designed to support management processes planning, modeling, consolidation, and reporting of data from single or multiple ERP systems as well as analytics.
In layman’s terms, EPM solutions are used to monitor, manage and analyze the overall performance of an organization. Used to help management optimize performance, EPM is designed to help organizations set goals, develop and execute plans in order to achieve them.
Implementation times are the main differentiator when it comes to ERP and EPM solutions. Because ERP solutions are complex, they can take up to a year to implement. Despite the fact that an EPM system can integrate and work with multiple ERP systems, a cloud-based EPM system can be implemented in three months or less. Find out more about these solutions.
The main goal, however, is to have integration and alignment between the ERP and EPM solutions, as this will enable efficient transaction processing as well as faster, more accurate financial and management reporting, planning, and forecasting.
Host Analytics provides an excellent resource describing how to utilize EPM and ERP software together for increased performance management in their white paper titled, Best Practices: ERP and Enterprise Performance Management. It touches upon both solutions and demonstrates the clear advantages that EPM solutions can have over ERP’s and spreadsheets with the primary focus on the difference between ERP and EPM.