The contribution that
VantagePoint made on this project more than exceeded our expectations. Their partnering attitude and knowledge of BPC was invaluable.
A successful EPM implementation requires strategic vision, strong leadership and creativity, utilizing world class EPM software. VantagePoint brings a dynamic balance of proven industry and software experience to transform vision to reality.
Acquiring the correct software to support your EPM process is the initial step in the deployment of an EPM solution. The software should fit into the corporate planning vision and culture set by executive management. Selecting an implementation partner is as important as the software selection itself. The implementation vendor should compliment your internal team with experience in financial modeling and EPM best practices. Implementing an EPM solution is the first step in aligning daily operations with the corporate vision. The performance management planning cycle (illustrated below) is a continuous process maintaining organizational alignment of short term results with long term strategies.
An EPM implementation subscribes to a much different methodology than a transactional system, such as an ERP. What makes an EPM implementation unique is it’s primarily business lead and focused on business modeling. The three main components to a successful EPM implementation are; corporate commitment, software selection, and the right consulting partner.
Finding an official SAP implementation partner with real world business experience is significantly reflected in the end
product. We believe the implementation partner should view knowledge transfer as an integral key to the success of the project.
The appropriate level of knowledge transfer requires a commitment from the customer. Executive sponsorship and SME commitment is required to successfully complete an EPM project and realize on-going value from the solution.
Selecting world class software with pre-built functionality that delivers financial intelligence and process management is essential. The final product should be a fully integrated business model encompassing all financial processes, is owned and operated by Finance, and fits the corporate strategic infrastructure.
| Benefits of a Successful EPM Implementation | ||
| Data integrity | Business and compliance risk is minimized by having a central business model enforcing a single version of the truth. | |
| Add value | Spend valuable time analyzing data opposed to gathering and validating data. | |
| Strategic alignment | A common platform enables alignment between short term performance and long-term strategic goals. | |
| Agility | Quickly model new business scenarios and decide on a course of action that maximizes value creation. | |
| Reduced cycle time | Through collaboration in a unified landscape, streamlining the process of creating and approving plans, budgets, and forecasts. | |
| Increased productivity | Intuitive interface and the use of familiar Microsoft Office allows for ease of user adoption and self service. | |
| EPM best practices | Business process flows facilitate and document business processes, which assists with training. | |
| Empower Finance | A centrally administered application provides Finance with a single point of maintenance. | |
In addition to benefits listed above, VantagePoint has developed various functional enhancements based on years of experience implementing EPM applications. Customers may choose to deploy these enhancements during the implementation.
For additional details please contact us.
