The global Enterprise Performance Management Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period, to reach USD 8.3 billion by 2027 from USD 6.0 billion in 2022. Enterprise Performance Management (EPM) is a set of processes formulated to help organizations plan, budget, forecast, and report on business performance, as well as consolidate and finalize financial results. EPM vendors across the globe are deploying innovative solutions to support organizations in financial budgeting and planning to improve the financial position of their businesses. The emergence of the latest technologies enables vendors to offer financial budgeting and planning solutions to empower organizations to take appropriate actions. The rising need for mobility to implement a flexible work system is expected to boost the growth of the EPM market.
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EPM software market vendors across the globe are adopting innovative solutions to support organizations in financial planning and budgeting to improve the financial position of their businesses. The evolution of the latest technologies is enabling vendors to offer financial budgeting and planning solutions to empower organizations to take appropriate actions. Organizations require software solutions to handle larger business information. It becomes a challenge for an organization to gather data from different departments available in different data formats. The EPM solutions facilitate information management at different levels and result in informed decision-making. The objective of EPM solutions is to enhance business performance and help enterprises improve their decision-making process. Organizations across verticals use EPM solutions to increase their operational efficiency and productivity.
The market is expected to be driven by business process optimization and rising demand for mobility
The increasing demand for mobility solutions resulted in the growing adoption of cloud-based EPM software. On-premises EPM software lacked application programming interfaces or integrated technologies to connect them to mobile devices. Organizations are moving towards a flexible work environment after the outbreak of the COVID-19 pandemic. Cloud-based EPM solutions are designed to support organizations to grow faster and breakthrough geographic constraints. Additionally, the EPM systems support business processes by enabling organizations to manage and automate daily business activities from a integrated solution, which results in enhanced business performance and increased operational efficiency 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. As data serves as a key metric to measure business performance, EPM systems gather and consolidate data automatically, which reduces the implementation time. These factors act as drivers to the enterprise performance management market.
The enterprise performance management market report includes major vendors, such as are Oracle (US), IBM (US), SAP (Germany), Infor (US), OneStream (US), BearingPoint (Netherlands), Workday (US), Anaplan (US), Epicor Software (US), Kepion (US), Unicom Systems (US), Unit4 (Netherlands), Broadcom (US), Planful (US), Board International (Switzerland), LucaNet (Germany), Jedox (Germany), Prophix (Canada), Vena Solutions (Canada), Solver (US), Corporater (Norway), Wolters Kluwer (Netherlands), and insight software (US). The top global players in the EPM market have enacted various growth strategies to expand their global presence and increase their market shares. Key players such as Oracle, SAP, IBM, Infor, and Anaplan have majorly adopted many growth strategies, such as new product launches, agreement and partnerships, collaborations, acquisitions, targeted towards expansion of their market presence and grow further in the enterprise performance management solutions and services market.
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Anaplan is a provider of cloud-based enterprise planning and modeling solutions for enterprises. It is a cloud-based platform that offers real-time scalable modeling and calculation engine for effective planning and better decision-making. The platform has various features, including modeling, collaboration, usability, and security and uptime. The Anaplan platform helps customers dynamically orchestrate performance enterprise-wide and convert constant change to their advantage. The company aims to make it possible to share actionable insights and empower and unleash creativity to drive innovation. The company offers a connected planning platform that supports planning in business functions, including sales, HR, finance, marketing, services, operations, supply chain, and IT. The platform enables an organization to make better-informed decisions.Anaplan also provides large-scale collaborative planning and decision-making across complex processes. The company has a significant presence across North America, Europe, and Asia Pacific and specializes in planning, forecasting, modeling, supply chain planning, sales performance management, performance management, and S&OP.
Infor provides cloud software products in the industry-specific market and is a global leader. It is a provider of enterprise software and services for finance and HR business functions. The company offers many enterprise solutions, including enterprise asset management, enterprise financial management, EPM, and enterprise resource planning. It sells its software and services through channel partners, alliance partners, and delivery partners. Infor builds and deploys industry suites in the cloud for more than 67,000 customers around the globe and has a presence in over 178 countries in North America, Europe, the Middle East & Africa, Asia Pacific, and Latin America.
Infor Dynamic Enterprise Performance Management helps organizations gain a complete, real-time view of their business performance by combining intelligent business tools and financial planning capabilities in an EPM software solution. Dynamic Enterprise Performance Management offers a holistic view of business performance and enables organizations to measure past and current performances and forecast future activities. It also provides modern intelligent business and financial performance management capabilities. Additionally, the company offers its cloud-based products to various industries, including automotive, financial services and insurance, healthcare, retail, oil and gas, and the public sector.
Workday was founded in 2005 and is headquartered in California, US. It is a leading provider of enterprise cloud applications for finance, HR, and planning. Workday delivers financial management, human capital management, and analytics applications designed for the world’s largest companies, educational institutions, and government agencies. Organizations ranging from medium-sized businesses to Fortune 50 enterprises have selected Workday as their business partner. The company specializes in financial management, human capital management (human resources management, workforce planning + talent management), payroll, expenses, time tracking, procurement, grants management, recruiting, and planning. The company offers an enterprise planning platform that supports planning in financial functions, including sales, workforce, operations, and analytics and reporting. The platform enables organizations to make better-informed decisions based on data and technology.
Workday caters to various verticals, such as communications, energy and resources, financial services, government, healthcare, higher education, hospitality, BFSI, life sciences, retail, manufacturing, and media and entertainment. It has an employee base of 15,200 and a global presence.
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