The global Enterprise Performance Management (EPM) Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period, to reach USD 7.7 billion by 2026 from USD 5.7 billion in 2021. Major factors that are expected to drive the growth of the enterprise performance management market include increasing operational efficiency by optimizing business processes, improved profitability by reducing the operational cost, and requirements for regulatory compliance and security.
The market is expected to be driven by increasing operational efficiency by optimizing business processes
EPM systems support business processes by enabling enterprises to manage and automate day-to-day business activities from a single, integrated software application, which not only improves operational efficiency but also enhances business performance by ensuring accurate business planning and reporting. EPM systems offer a streamlined business process that eliminates the risk of manual errors and provides faster response time to key decision-makers in the organization. Automating the business processes provides real-time information on business requirements. As data serves as a key metric to measure business performance, EPM systems gather and consolidate data automatically, which reduces the execution time. EPM acts as a tool for the organization to manage and understand the data gathered through various business processes to make better business decisions, which would enhance the performance and efficiency of the organization and would offer a competitive position in the market. These factors act as a driver to the enterprise performance management market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=114295566
Improved profitability by reducing operational costs
Organizations utilized EPM systems to track day-to-day financial performance. A well-equipped EPM system enables the organization to maintain efficiency across the entire team and eliminate manual tasks. Enabling the key elements of various business processes with an EPM tool drives the growth, profitability, and accountability of organizations. EPM software provides visibility across all the business segments and tracks the cost and profitability of each of these business segments. This functionality can be utilized to predict and forecast the business requirements and respond to the changing economical requirements in the competitive market. Thus, the implementation of EPM offers higher returns, increased margins and identifies ways to improve profitability and business performance. For instance, EPM offers insurance companies with cost management and profitability analysis tool, which performs complex and detailed calculations to define the profit potential. EPM offers manufacturers precise cost and analysis tools on a real-time basis to gain profitability by protecting the margins.
The enterprise performance management market report includes major vendors, such as are Oracle (US), IBM (US), Infor (US), SAP (Germany), Anaplan (US), Workday (US), Epicor Software (US), Unicom Systems (US), Planful (US), Unit4 (Netherlands), OneStream (US), BearingPoint (Netherlands), Broadcom (US), Board International (Switzerland), LucaNet (Germany), Prophix (Canada), Vena Solutions (Canada), Solver (US), Kepion (US), Jedox (Germany), Corporater (Norway), Wolters Kluwer (Netherlands), and insight software (US). The major players in the EPM market have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Oracle, IBM, SAP, Anaplan, and Infor have majorly adopted many growth strategies, such as new services and product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the enterprise performance management solutions and services market.
SAP is a global leader and categorizes its diverse portfolio into applications; technologies and services; and SAP business network segment. SAP is the market leader in enterprise application software and aims to help companies of all organization sizes. It leverages the latest technologies such as machine learning, the Internet of Things (IoT), and advanced analytics to aid customers’ businesses into intelligent enterprises. The company offers an end-to-end suite of applications and services to enable customers to operate profitably, adapt continuously, and make a difference. The company offers the EPM solution for large enterprises to help them improve their financial strategy, planning, and analysis. The solution comprises visualization tools for budgeting, planning, forecasting, reporting, financial consolidation and compliance, and collaboration. The company offers on-premises and cloud-based solutions. The EPM solution enables organizations to improve their Return on Investment (ROI) and operational efficiency.
SAP has an employee strength of more than 100,000 with a total customer base spread across 130 countries. It caters to various industries, such as BFSI, public services, telecommunications, and media and entertainment. It operates in the Americas, Europe, APAC, and MEA.
IBM is a leading cloud platform and cognitive solutions company. Its major operating sector consists of five business segments, namely cognitive solutions (AI), global business services, technology services and cloud platforms, systems, and global financing. IBM focuses on strengthening its product portfolio by launching new and advanced solutions in these sectors. It helps customers streamline business processes and enhance data-driven decision-making capabilities. It offers a broad product portfolio that includes Analytics, Intelligent Automation, Cloud Computing, Blockchain, Business Operations, IT Infrastructure, Mobile Technology, Security, Software Development, and Supply Chain Management. As of December 2020, the company has 345,000 employees. IBM provides The Financial Performance Management solution as a part of its EPM solutions that automates financial planning and reporting processes and enables enterprises to improve their process efficiency and business performance. The solution comprises IBM Planning Analytics, IBM Cognos TM1, IBM Disclosure Management, and IBM Cognos Controller.
IBM caters to various verticals, including automotive, telecommunications, financial services, health, aerospace and defense, insurance, life sciences, and retail. It nurtures an ecosystem of global business partners operating in more than 170 countries. IBM research constitutes the largest industrial research organization globally, with 12 labs across six continents spread across the Americas, Europe, MEA, and APAC.
Request a Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=114295566
Oracle is an established and leading vendor of enterprise-grade products and solutions. The company specializes in developing, manufacturing, and marketing hardware systems, databases, and middleware software, and application software. Its offerings are categorized into three business segments, namely cloud and on-premises software, hardware, and services. The cloud and on-premises software segment offer SaaS, Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS); applications; databases; and middleware software. The hardware segment offers products, such as Oracle-engineered systems, servers, and storage and industry-specific products. The services segment offers cloud services to organizations of all sizes, government agencies, educational institutions, and resellers.
The company caters to various verticals, including telecommunications, financial services, health, food and beverage, hospitality, life sciences, and retail. It also caters to a broad customer base and has a global presence in more than 145 countries, with a strong presence in the Americas, APAC, and EMEA.
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States