To optimally manage the operations of a company, technology is required. Two of the most widely used and useful are ERP (Enterprise Resource Planning) and EPM (Enterprise Performance Management). It is often believed that these tools overlap, but in reality, it may be more appropriate to choose an ERP solution integrated with an EPM.
These two software programs do not compete with each other; on the contrary, they complement each other. While ERP focuses on transactional processing and coordination of the company’s resources, EPM is responsible for linking financial and operational data with other useful information.
Why choose an ERP solution integrated in an EPM?
A well-designed ERP solution integrated to an EPM allows automating and integrating processes, as well as creating reliability and boosting the strategic growth of the organization. If you are thinking of opting for this type of solution, these are some of the benefits you will obtain.
Organizations often rely on more than one system to meet complex reporting requirements. With an ERP solution integrated to an EPM your company will have greater agility to generate the reports it needs on the different business units and will even be able to align financial and fiscal reports.
Unification of information
Another reason to use an integrated ERP solution is that the company’s information is unified in a single system. This way, data is centralized for it to be used by all employees, depending on the permissions that each one has. This also avoids duplication of information and minimizes errors that usually occur in manual tasks.
A great advantage of cloud-based software for managing companies is its scalability. That is, these tools offer additional resources and support according to customer needs. This allows organizations to start with a smaller investment to manage their core processes and as they grow, they can expand services as needed.
Management tools allow you to have a clearer idea about the costs to be assumed by the company, as well as the profitability it will generate to determine where to invest resources. With an ERP integrated with an EPM you will have better visibility across all lines of business to obtain integrated and agile forecasts to adequately respond to economic changes in the market
Having an ERP solution integrated to an EPM solution also automates processes in the company, which means significant time savings, as well as a reduction in human errors. This helps increase business productivity by speeding up key financial processes.
Thanks to an ERP solution integrated with an EPM, decision-makers will have more accurate and detailed information to drive strategies and plan for the future. If you want this software, Fusionworks can help you with its implementation, contact us!