What do "best EPM performers" do differently?
- Group size (number of reporting entities, complexity of the group structure, total revenues) does not matter when producing the month-end results or year-end financial report. Large and complex groups in this study often reported more quickly than smaller and simpler organisations.
- Many of the best companies have adopted rolling forecasting techniques.
- Almost all top performing companies measure the performance of the different reporting process and give regular feedback to the reporting units and group finance management.
- 70% of the top performers have adopted a Global Standard Chart of Accounts.
- 25% of the top performers have adopted weekly flash reporting and in this way manage to get more insights in the actual performance of their business and more time to take action.
Many companies have made significant progress in their Enterprise Performance Management (EPM) in the past years, but recent crises have again been strongly demanding for management processes, methods and systems. Against this background, questions about development status, trends and best practices are of high importance. Many CFOs and Heads of Accounting or Controlling would like a detailed comparison with other companies:
- How quick and accurate is the reporting of other companies?
- What measures are reported how often and to whom?
- How many people are working on particular tasks?
- How are the underlying processes structured?
- What IT systems are best suited for the intended purposes?
- What improvements have the most valuable impact?
Comprehensive answers to these and many other questions can be obtained in our updated study “Enterprise Performance Management – 2016 and beyond”, conducted by the members of EPM International.
The EPM study covers all of the functional EPM domains and includes the following sections:
- Strategic Planning
- Plannning, Budgeting and Forecasting
- Consolidation and Management Reporting
- EPM systems and maturity
- Analytics and BI
- Risk and Regulatory Reporting
- Coping with Changes
- Hot Topics for Group Finance Function
