For managing business operations, Enterprise Resource Planning (ERP) and Enterprise Performance Management (EPM), are the most used software in the business world. They often complement each other very successfully, therefore ERP and EPM integrations provide many advantages for your business.
ERP is a system designed to process transactions and track resources within an organization. And the EPM is a system that supports management and analysis processes to improve profits and performance. Therefore, ERP and EPM integration can provide many benefits to organizations.
ERP and EPM integration: Key Benefits
The enterprise resource planning (ERP) software and the enterprise performance management (EPM) software are very useful tools for businesses. When they work together, they have the capacity of simplifying business processes. If you integrate them into your organization you can get the following benefits.
Optimization of financial and business management
The advantage of an ERP is that it tracks all resources from the time of purchase, while the EPM enables financial planning and reporting which helps to create forecasts and manage budget allocation, and integrate ERP data, as well as data from HCM and CRM systems. That way you have all the financial and resource data of the company in a single platform.
The use of these software in an integrated way helps to improve efficiency by reducing dependence on spreadsheets. This simplifies business processes. In addition, you avoid tedious and time-consuming tasks and manage the budgeting cycle and resources planning form a single platform.
Elimination of manual errors
The ERP and EPM allows for the automation of a wide range of tasks, so in addition to maximizing efficiency, it eliminates manual errors. This allows the company to achieve greater accuracy in its operations and obtain complete and updated data. This leads to greater reliability of forecasts and improved business performance.
The advantages of having your EPM and ERP integrated are many. If you want to obtain actionable information to reach new levels of profitability, performance, and growth you should integrate these software.
A highly recommended option is the integration between Oracle ERP and Oracle EPM, which when combined offers a highly efficient solution for any company. If you are interested in implementing them, at Fusionworks we can help you. Contact us and we will provide you with all the information that you need.