Enterprise Performance Management Task
An Enterprise Performance Management Task is a organizational performance management task that is an enterprise management task (that manages enterprise performance).
- Context:
- It can (typically) be solved by an Enterprise Performance Management System.
- It can (typically) include a Enterprise Reporting Task.
- It can range from being a For-Profit Performance Management Task to being a Governmental Performance Management Task.
- It can be supported by an Employee Performance Management Task.
- …
- Example(s):
- Counter-Example(s):
- See: Key Performance Indicator, Enterprise Objective, Balanced Scorecard, Strategy Map, Business Performance Management.
References
2016
- (Wikipedia, 2016) ⇒ https://en.wikipedia.org/wiki/Enterprise_performance_management Retrieved:2016-5-2.
- Enterprise performance management (EPM) is a field of business performance management which considers the visibility of operations in a closed-loop model across all facets of the enterprise. Specific to financial activities in the office of the chief financial officer, EPM also supports financial planning and analysis (FP&A).
There are several domains in the EPM field which are driven by corporate initiatives, academic research, and commercial approaches. These include:
- Strategy formulation
- Business planning and forecasting
- Financial management
- Supply chain effectiveness
- Based on the mission and vision of an organization, different strategic needs may drive how EPM domains are leveraged and promoted within an organization. For example, a professional services firm based in Canada may view the need to have effective and transparent supply chain operations very differently from a clothing manufacturer with operations throughout the world. What is common in the EPM approach is the closed-loop EPM process model advocated by Kaplan and Nortonand their management approaches to strategy formulation, including balanced scorecard and strategy map techniques.
The four domains, or disciplines, referred to above exist to define and cover the six stages of the closed-loop EPM process model. The six stages of the closed-loop EPM process model are: strategy development, strategy translation, organization alignment, operations planning, learning and monitoring, and testing and adaptation.
- Enterprise performance management (EPM) is a field of business performance management which considers the visibility of operations in a closed-loop model across all facets of the enterprise. Specific to financial activities in the office of the chief financial officer, EPM also supports financial planning and analysis (FP&A).
2015
- Gartner Report. (2015). “Magic Quadrant for Corporate Performance Management Suites."
- SUMMARY: Corporate performance management suites facilitate efficient, compliant and transparent processes within the office of finance. They also enable CFOs and other business leaders to manage organizational performance and guide strategic direction.
- Description: … CPM initiatives aim to either improve processes within the office of finance (OOF) or support performance management (PM) throughout the organization. CPM deployments can typically be categorized as one of two types: OOF CPM and strategic CPM. OOF CPM largely involves the improvement of financial processes, while strategic CPM supports organization-wide transformation and growth. Driving higher levels of CPM maturity requires that attention be paid to both types (see "Getting More Value From CPM: Strategic Versus Office-of-Finance CPM"). Gartner uses the term "CPM" to highlight corporate finance's critical role in aligning siloed PM processes and applications across multiple business domains.
Competitive business environments require that organizations find new ways to reduce costs while simultaneously improving their ability to manage performance. Corporate finance is uniquely situated to address both these requirements. Traditionally, finance applications have been primarily designed for accuracy, compliance and efficiency. The availability of more-capable CPM solutions supported by additional in-memory computing (IMC) and mobile, social and advanced analytics capabilities is providing finance with additional options to address more strategic needs (see "Strategic CPM as a Driver for Organizational Performance Management").
In addition to the term "CPM," vendors use other descriptions, such as enterprise performance management (EPM), dynamic performance management (DPM) or simply PM. The use of one label or another is irrelevant. What's important is the recognition that no single current offering can provide end-to-end PM support. Organizational PM encompasses distinct, domain-specific PM processes of which CPM is one. CPM's role in enabling a broader approach to PM is firmly established; however, CPM offerings continue to evolve. CPM efforts typically focus on financial budgeting, planning and forecasting (BP&F), and financial consolidation and reporting. However, they also support the coordination of more-comprehensive planning processes (see "In-Memory Computing Reinvents Integrated Financial Planning"). CPM suites can also extend into functional domains to support specific processes and provide the "glue" to link these operational areas back to financial and enterprise performance targets. …