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With so many different enterprise performance management (EPM) software available, figuring out which is right for your organization is tough. You know you want a system to help you analyze your operations and manage your business objectives more efficiently, but you need to figure out which software is best. In this article, I'll help you make this choice easier by sharing my insights on the best EPM software to help you plan, execute, and analyze your current operations and forecast your future success.

What is EPM Software?

Enterprise performance management software, or EPM software, is a tool that helps organizations integrate high-level financial processes into one unified system to measure the financial health of the company. You can use it to collect and manage metrics related to financial performance and business planning processes to help you predict where your company is headed based on your current data. Key features include scenario modeling, and integrated tools for budgeting, financial forecasting, reporting, and data analysis.

EPM software helps organizations improve the accuracy and efficiency of their core processes, saving time and resources and reducing the likelihood of errors. They also help senior management ensure their core business activities are aligned with strategic goals and offer real-time data metrics to facilitate data-driven decisions.

Overviews of the 10 Best EPM Software

Here’s a brief description of each of the EPM solutions on my list. I’ve explained what each system does best, and included screenshots to showcase some of the key features.

Best EPM software for supply and demand planning

  • Free demo available
  • Price upon request
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Rating: 4.6/5

Anaplan is a EPM software designed to mobilize complex scenario planning in order to empower agile decision-making. They easily develop an accurate supply forecast across your entire network with the flexibility to pivot focus as needed in an ever-changing marketplace. Their intelligent, advanced reporting features predictive warning of stock-out inventory shortages, excess inventory, and wasted capital to better streamline your inventory flow.

Anaplan has enterprise pricing upon request and offers a free demo.

Pros and cons

Pros:

  • Easy scenario/what-if analysis and forecast adjustments
  • Handles large data sets well and can manage low granularity of data
  • Features a robust calculation engine with near-instant results
  • Easily link multiple planning streams to one centralized location

Cons:

  • No formula syntax helper built in at this time
  • Dashboards could be more customizable/expansive
  • Integration with other third-party platforms could be expanded

Best EPM software for retail analytics

  • Free demo available
  • From $175/user/month
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Rating: 4.5/5

Epicor ERP business intelligence and analytics boasts real-time, in-context data made accessible to customers, vendors, and inventory managers. Their fully integrated retail management system comes with built-in best practices, data-driven customer loyalty guidance, competitor price comparisons, and other performance solutions. Be sure to take advantage of their robust employee scheduling features and document management tools.

Epicor costs from $175/user/month and offers a free demo.

Pros and cons

Pros:

  • Top-notch database search feature (called Enterprise Search)
  • Good quality dashboard and reports capabilities
  • Highly customizable with a new REST API implemented in 2019
  • Good supply chain management (SCM) functions

Cons:

  • The order release process is not as user-friendly as it could be
  • Somewhat cumbersome to implement and upgrade
  • Additional integration with financial and HR applications welcomed

Best for automating administrative tasks

  • 7-day free trial
  • Pricing upon request
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Rating: 4.5/5

Vena Solutions is an enterprise performance management software with a sales performance management feature to help you in quota planning, territory management, and incentive compensation management. It has workforce planning capabilities to help you ensure that you have enough human resources to meet goals. Vena Solutions has capital expense and revenue planning capabilities to give you insights into your company’s profitability.

Administrative tasks can be time-consuming, and you can save time by automating them with the help of Vena Solutions. You can use Vena Solutions to create and automate workflows for simple and repetitive admin tasks. Vena Solutions automatically sends reminders to team members, alerting them when tasks are due to help avoid missing deadlines or delaying projects.

Vena Solutions pricing and demo are available upon request.

Pros and cons

Pros:

  • Has integrated Excel
  • Offers centralized version control
  • Has a wide variety of financial templates

Cons:

  • Not available for Mac users
  • Limited training support

Best for AI-supported planning and forecasting

  • 14-day free trial + free demo
  • Pricing upon request
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Rating: 4.4/5

Jedox’s EPM solution helps companies accelerate their planning, forecasting and reporting. Their system incorporates AI (artificial intelligence) and machine learning to help finance teams create better forecasting models. As well, Jedox makes it possible to automate key portions of financial and operational planning processes. It’s designed to act as a single source of common data so company executives across finance, sales, human resources and supply chain departments can collaborate effectively and take advantage of the system’s smart, predictive technologies to drive business transformations.

Jedox has enterprise pricing available upon request. They also offer a free demo and a 14-day free trial.

Pros and cons

Pros:

  • Full-feature mobile app
  • Simple, self-service integrations with many applications available through their marketplace
  • You can connect Excel files to their database natively
  • Ability to automate recurring processes and reports to save time

Cons:

  • The help documentation for users is convoluted and hard to navigate without advanced knowledge
  • Predictive analyses may load slowly since all data is stored in memory
  • Pricing structure is not transparent and only available upon request

Best versioning and scenario analysis

  • Free trial + free demo available
  • Pricing upon request
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Rating: 4.4/5

Workday Adaptive Planning is a smart enterprise planning solution used by the likes of Airbnb, Airbus, HubSpot, Goodwill, and Microsoft. Gartner 2020 positioned them as a Magic Quadrant Leader in Cloud FP&A (financial planning and analysis). Users are empowered to evaluate multiple scenarios across large data sets; plus, they can collaborate from anywhere—by web, mobile, and Excel. Department managers will benefit from dynamic headcount and skills-based planning solutions.

Workday Workforce Planning offers customized pricing on request and offers a free trial which you can request here.

Pros and cons

Pros:

  • Formulae creation is accessible and intuitive
  • Excellent scenario analysis and change comparison tools
  • Flexible dimensions, attributes, and timeframes for planning
  • Easy to create and share various reports

Cons:

  • No way to preserve previous forecasts if actuals are restated/adjusted
  • No corporate consolidation (multiple organizations/HQ partners in one group)
  • There aren’t any web reports within the dashboards

Best EPM software for manufacturing operations

  • Free demo available
  • Price upon request
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Rating: 4.4/5

OneStream XF is a modern, comprehensive platform for corporate performance management that works to boost agility of enterprise planning, budgeting, and forecasting processes. Manufacturing operations will appreciate their drill-down planning and analysis by product lines, brands, functions, geographies, plant sites, and customers. They also have over 50 additional apps accessible in their marketplace, further extending the value of their service.

OneStream has customized pricing upon request.

Pros and cons

Pros:

  • End user training can be embedded right into the application
  • Easy, thorough integration with underlying data sources
  • Expansive marketplace for additional apps
  • Highly flexible, adaptable performance solution

Cons:

  • Their standard documentation could be more detailed
  • Dashboard comes across as a bit busy
  • Configuration of certain items seems to require excessive menuing

Best for enterprise project portfolio management

  • 30-day free trial
  • Pricing upon request
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Rating: 3.6/5

Planview Enterprise One is a comprehensive enterprise project portfolio management (PPM) system with a sleek, modern take on reporting and analytics modules that make visualizations endlessly accessible and digestible. Tap into their solutions for strategic planning, program management, road mapping, investment prioritization, and financial planning. Planview’s PPM-oriented strengths include excellent stakeholder engagement features and trade-off analysis for shifting priority navigation.

Pricing details for Planview are available upon request. They also offer a free 30-day trial.

Pros and cons

Pros:

  • Strong investment and capacity planning capabilities
  • Easy to configure data entry screens with drop-down lists and unique fields
  • Very affordable per-user/per-month cost
  • KPI analytics tiles are clear and customizable

Cons:

  • Can’t chart resource availability based off of the project scope dates
  • Timesheets would benefit from more user-friendliness
  • Forecasting for teams vs resources features are a work in progress

Best for financial close solutions

  • 30-day free trial
  • From $1000/month

Oracle EPM Cloud helps you model and plan all aspects of corporate human resources, finance targets, sales departments, and your supply chain. They are recognized as a leader in cloud financial close solutions thanks in part to their built-in global reporting requirement standards, automatic cash flow, and balance sheet calculations, and intelligent process automation (IPA). Oracle offers smart insights and personalized recommendations using their comprehensive AI.

Oracle Cloud EPM costs from $1000/user/month and offers a 30-day free trial.

Pros and cons

Pros:

  • Good automated cash flow reporting and multi GAAP (generally accepted accounting principles) reporting
  • Offers best practice configuration built right in
  • Easily automate reconciliation processes
  • Automating of XBRL (a.k.a. bar codes for reporting) tagging and taxonomies

Cons:

  • Highest functionality requires additional Oracle Fusion apps such as Hyperion
  • Smartview interface is a bit cumbersome
  • Lacks some robust process automation (RPA)

Best user-friendly modeling tool

  • Free demo available
  • Pricing upon request

Infor Dynamic Enterprise Performance Management (Infor d/EPM) merges intelligent business tools and financial planning capabilities to help you assess current and potential activities. Their user-friendly modeling tool empowers managers to create, test, and deploy scenarios with machine learning insights, recommendations, and predictive analytics. You’ll find yourself able to easily manage work-in-progress delivery costs, timelines, and project execution.

Infor d/EPM has enterprise pricing upon request and offers a free demo.

Pros and cons

Pros:

  • Unlimited versioning for what-if scenario planning
  • Compelling AI-based predictive analytics
  • Powerful and user-friendly modeling tool
  • Unifies planning P&L, balance sheet, and cash flow

Cons:

  • Time-consuming initial implementation and set-up
  • Reports need some manual intervention for them to look presentation-worthy
  • UI often incorporates too much text on each screen

Best EPM software for finance teams

  • Free demo available
  • Price upon request

Axiom Software by Syntellis (formerly Axiom EPM) is a sophisticated, flexible enterprise performance management solution used by companies to model scenarios, analyze financial results, and optimize organizational decision-making. Their software supports strategic planning, budgeting, and forecasting, reporting and analytics, profitability, and cost management for complex data estates. Their cost management module boasts clear, evidence-based costing algorithms as well as profitability trends across business lines.

Their EPM system is well-suited for financial institutions, higher education, and complex healthcare organizations. They are currently used by companies like Atrium Health, Trinity Health, BankUnited, Byline Bank, and several US universities and colleges.

Axiom EPM has enterprise pricing upon request and offers a free demo.

Pros and cons

Pros:

  • Spreadsheet-style database is intuitive for anyone who has used Excel or Sheets
  • Premium consulting package includes unique reports for any data set
  • Myriad customization and possibilities for reporting templates
  • Easy to set-up and adjust user security for data access

Cons:

  • Interface is not as engaging and modern as some competitors
  • Uses paid FTE (full time equivalent) metrics for reports rather than productive FTEs
  • Can be challenging to drill-down to a single or specific charge

Best EPM Software: Pricing Comparison Chart

This comparison chart summarizes basic details about each of my top EPM software selections. You can view pricing details and the availability of free trials or demos side-by-side to help you find the best software for your budget and business needs.

Tools Price
Anaplan Price upon request
Epicor ERP From $175/user/month
Vena Pricing upon request
Jedox Pricing upon request
Workday Adaptive Planning Pricing upon request
OneStream XF Price upon request
Planview Enterprise One Pricing upon request
Oracle EPM Cloud From $1000/month
Infor d/EPM Pricing upon request
Axiom Software Price upon request
Preview Image - <h2 class="c-block__title b-summary-table__title c-listicle__title h3" > Compare Software Specs Side by Side</h2>

Compare Software Specs Side by Side

Use our comparison chart to review and evaluate software specs side-by-side.

Compare Software

Other Enterprise Performance Management Software

Here are a few more EPM solutions that didn’t make the top list:

  1. EPM Live

    Best for Microsoft SharePoint integration

  2. SAP Analytics Cloud

    Best for first-party feature scalability

  3. Planful

    Best for rolling forecasts

  4. Insight Software

    Best for first-party feature scalability

  5. IBM Planning Analytics

    Best for change management planning

Selection Criteria for Enterprise Performance Management Software

Wondering what features I'm looking for when selecting the best EPM software for this list? Here’s a summary of my evaluation criteria: 

  • User Interface (UI): The best EPM tools have broad features that organize busy, complex data well. The user interface should be tidy, readable at a glance, and provide drilled-down details with minimal clicks and menuing. Bonus points for maintaining a crisp, colorful, modern UI.
  • Usability: Training staff on an EPM system is a huge undertaking so usability scorecards focus on the availability of detail-oriented training solutions, real-time customer support features, predictive help documentation (webinars, FAQ, forum, tutorial videos), and ongoing educational initiatives (particularly as software updates come and go). 
  • Software Integrations: EPM deals a lot with financial planning and analysis, plus financial reporting, so the software should be able to connect with other commonly used financial applications such as Salesforce, QuickBooks, Microsoft Excel, and CRM data sources.
  • Value for Price: Dealing with an enterprise and its stakeholders means you'll need a robust, easily-scalable, and fairly priced tool. Is the EPM pricing structure easily adaptable to the needs of your growing and changing enterprise?

EPM Software: Key Features

  • Robust budgeting and forecasting 
  • Sound data visualization
  • Advanced key performance indicator (KPI) monitoring
  • Financial consolidation and closing capabilities
  • Participatory and collaborative modeling
  • Supply chain effectiveness reports
  • Human Capital Management (HCM) reports

Frequently Asked Questions

Why should you use EPM software?

Are your strategic business processes grounded in accurate and timely enterprise performance data? How can you ensure your organization is maximizing data to support high-level decision-making? Enterprise performance management (EPM) software is crucial for high-level business process management (BPM). If you aren't using EPM software yet, you may want to consider using it for your organization.

EPM software addresses high-level processes such as financial forecasting and e-commerce reporting. Many also offer insights into supply chain effectiveness, strategy creation, and implementation.

What is the difference between ERP and EPM software?

Simply put, enterprise resource planning (ERP) software addresses operational processes within a corporation. ERP systems focus primarily on transactional data, and are more likely to address:

  • A/R (accounts receivable)
  • A/P (accounts payable)
  • budgetary management
  • cash management
  • financial reporting (actual vs. budget variance)
  • income statements

In contrast, EPM software aims to streamline business management processes within a corporation. EPM systems focus primarily on managerial data, and are more likely to address:

  • analytics and modeling of "what if" scenarios
  • advanced managerial insight into business performance
  • complex budget maintenance
  • complex enterprise planning
  • decision-making based on financial and operational results
  • in-depth analysis of detailed operational plans

Since EPM and ERP solutions do have a lot in common, much of the software on this list touches a bit on both. However, the best EPM systems remained the strongest focus.

Which EPM Software Have You Used?

Time for the audience to weigh in. Are you currently using any corporate performance management (CPM) tools that you want to boast about? What's your best business performance management tip? Is there a SaaS financial planning tool that you would add to this list if you could? Sound off in the comments.

Other Resources

Are you looking for software to help you track more granular, transactional data? If so, I recommend you take a look at our list of the best ERP systems too.

If you're interested in ERP systems, but on a tight budget, we've got you covered there too. Take a look at our list of the best ERP systems for small businesses on a budget.

I also recommend you sign up for our People Managing People newsletter to receive updates on our latest articles and podcasts with HR leadership experts from around the world.

And last but not least, you're welcome to get involved with our community here to share tool recommendations and best practices with other HR professionals too.

Related Read: Essential Performance Review Phrases And Best Practices

By Kim Behnke

Kim Behnke is an HR Tool Expert & Writer for People Managing People. She draws on her 9 years of human resources experience and her keen eye for systematic processes to support her analyses of the top HR tools on the market. She is passionate about maximizing efficiencies and streamlining workflows to ensure internal systems run smoothly. Kim's HR experience includes recruitment, onboarding, performance management, training and development, policy development and enforcement, and HR analytics. She also has degrees in psychology, writing, publishing, and technical communication, and recently completed a Certified Digital HR Specialist program through the Academy to Innovate HR. When away from her desk, she can usually be found outside tending to her ever-expanding garden.