The Hackett Group

New Enterprise Performance Management Software Provider Study Finds Modern Cloud-Based Software Delivers Far Greater Value Realization Than Legacy Systems - Seite 2

The EPM Digital World Class Matrix study found that requirements vary significantly across organizations and recommends that prospective buyers carefully consider their business process framework, integration and data management complexities, partner relationships, expected benefits, workforce maturity, investment budget, and geographic reach as part of the selection process. Functionality offered, ease of adoption and reporting/analytics scored as the top three reasons for selection. Clearly defined program scope plus process simplification/governance and resource staffing were cited as the most crucial factors for successful implementation delivery and user satisfaction/experience. Faster, deeper insights; proactive capabilities; and modeling agility were cited as the top three value drivers enabling better response to dynamic market changes.

Customer survey participants expected Digital World Class EPM software to transform processes and generate automation time savings and capacity creation of more than 41% for planning and forecasting, and 26% for close and external reporting. Setting clear targets for cost reduction and productivity redeployment were inconsistent, highlighting a key opportunity for organizations to better understand and track realization of their business case strategic objectives. The evolution from static financial reporting to intelligent, collaborative and predictive optimization improves operational decision making, controls costs, and accelerates growth.

“Innovations in cloud EPM offerings, including artificial intelligence and machine learning, are accelerating benefit realization and driving significant capability enhancement in predictive analytics, real-time decision making and decision support,” stated The Hackett Group Principal, Finance Transformation Jason Logman.

The Hackett Group Director Drew Johnson noted, “EPM software has matured dramatically as organizations moved from legacy on-premises platforms to modern cloud-based software. The ongoing pace of technology advancement will enable EPM software to truly transform accounting, financial planning and analysis roles over the next decade; and investments in technology, training, and development will be crucial for adaptation.”

The EPM Digital World Class Matrix and related research are products of The Hackett Group’s Market Intelligence Service. This practice is designed to evaluate software and service providers’ abilities to deliver quantifiable results from specialized, differentiated capabilities. The Hackett Group defines Digital World Class in the context of the Digital World Class Matrix as the attainment of top-quartile performance for both depth/breadth of features and functionality (capability breadth) and value realization at multiple clients, and the ability to generate similar performance levels for future clients.