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’re not using any EPM software yet, you may want to consider using it across 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.
In this article, I’ll outline several trustworthy EPM software solutions for enterprise-level clients. This list represents the best EPM tools on the market, so let’s take a closer look at them to understand what they do.
The Best Enterprise Performance Management Software List
Here’s a shortlist of the best enterprise performance management software I’ll review in this article:
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).
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 $: 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?
Workday Adaptive Planning does comprehensive financial planning, reporting, and analysis.
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 Adaptive Planning costs from $800/user/year and offers a free 30-day trial.
Easy to create and share various reports
Flexible dimensions, attributes, and timeframes for planning
Excellent scenario analysis and change comparison tools
Formulae creation is accessible and intuitive
There aren’t any web reports within the dashboards
No corporate consolidation (multiple organizations/HQ partners in one group)
way to preserve previous forecasts if actuals are restated/adjusted
Automatically calculate and visualize income statements, rollovers, and calls to action.
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 $500/user/month and offers a free 30-day trial.
Automating of XBRL (a.k.a. bar codes for reporting) tagging and taxonomies
Easily automate reconciliation processes
Offers best practice configuration built right in
Good automated cash flow reporting and multi GAAP (generally accepted accounting principles) reporting
Lacks some robust process automation (RPA)
Smartview interface is a bit cumbersome
Highest functionality requires additional Oracle Fusion apps such as Hyperion
Detailed reporting tracks cash flow movements and changes as performance indicators.
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.
Highly flexible, adaptable performance solution
Expansive marketplace for additional apps
Easy, thorough integration with underlying data sources
End user training can be embedded right into the application
Configuration of certain items seems to require excessive menuing
Dashboard comes across as a bit busy
Their standard documentation could be more detailed
Performance, cost, and resource data with built-in project management functionality.
IgniteTech’s EPM Live is a Microsoft SharePoint integrated enterprise work management solution designed to enhance your ability to track and manage all projects and associated costs. EPM Live users can hone in on specific EPM processes, or access other IgniteTech modules which are also included in their EPM Live subscription. You can also access all Ignite products under an Ignite Unlimited plan, which cover six key areas: customer experience management, digital engagement, sales and marketing enablement, functional process automation, information technology acceleration, and communications & remote engagement.
EPM Live costs from $6/user/month and offers a free 30-day trial. Enterprise plan pricing is available upon request.
Comes with 70 ready-to-use functional extension modules
Built-in social collaboration tools assist team performance
Fantastic cost and resource management features
Easy, native integration with any Microsoft program
Minimum pricing plan is not suitable for large enterprises
Excessive clicks required for small things like closing a project or service request
Requires MS SharePoint software at an additional cost
Measure earned value and analyze budgets, both actuals and forecasts.
ARES PRISM includes a whole suite of enterprise-oriented tools for budgeting, resource planning, performance measurement, funds allocation, earned value management, time-phasing, cost and schedule analysis, risk tracking, and forecasting. Executives and CFOs will benefit from their forward-facing and outward-facing data gathering and analytics systems, which are designed to speak coherently to both internal decision-makers and external stakeholders.
ARES PRISM has enterprise pricing upon request and offers a free demo.
Features comprehensive project controls capabilitiesy
Adaptability to various WBS (work breakdown structure) strings
Handles change implementation welly
User-friendly, flexible data import and export functionality
Standardized reports can be a bit tricky to deeply customize
Outdated-looking graphical interface
No way to incur AI and automation as a trend in a new market
Jedox EPM includes simplified financial reports that make it easy to compare year-over-year performance at a glance.
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.
Ability to automate recurring processes and reports to save time
You can connect Excel files to their database natively
Simple, self-service integrations with many applications available through their marketplace
Full-feature mobile app
Pricing structure is not transparent and only available upon request
Predictive analyses may load slowly since all data is stored in memory
The help documentation for users is convoluted and hard to navigate without advanced knowledge
Simple, spreadsheet-style data reporting and analytics will be familiar to Excel users.
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.
Unifies planning P&L, balance sheet, and cash flow
Powerful and user-friendly modeling tool
Compelling AI-based predictive analytics
Unlimited versioning for what-if scenario planning
UI often incorporates too much text on each screen
Reports need some manual intervention for them to look presentation-worthy
Flexible, readable analytics tiles can report across the extent of your portfolio.
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.
Planview costs from $20/user/month and offers a free 30-day trial.
KPI analytics tiles are clear and customizable
Very affordable per-user/per-month cost
Easy to configure data entry screens with drop-down lists and unique fields
Strong investment and capacity planning capabilities
Forecasting for teams vs resources features are a work in progress
Timesheets would benefit from more user-friendliness
Can’t chart resource availability based off of the project scope dates
Clean, simple, and intuitive business performance management metrics that can be absorbed at a glance.
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.
Easy to set-up and adjust user security for data access
Myriad customization and possibilities for reporting templates
Premium consulting package includes unique reports for any data set
Spreadsheet-style database is intuitive for anyone who has used Excel or Sheets
Can be challenging to drill-down to a single or specific charge
Uses paid FTE (full time equivalent) metrics for reports rather than productive FTEs
Interface is not as engaging and modern as some competitors
Enterprise performance management across all browsers and smart devices.
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.
Easily link multiple planning streams to one centralized location
Features a robust calculation engine with near-instant results
Handles large data sets well and can manage low granularity of data
Easy scenario/what-if analysis and forecast adjustments
Integration with other third-party platforms could be expanded
Need Expert Help Selecting The Right Performance & Appraisal Software?
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It only takes a minute to submit your requirements and they will give you a quick call at no cost or commitment. Based on your needs you’ll receive customized software shortlists listing the best-fitting solutions from their team of software advisors (via phone or email). They can even connect you with your selected vendor choices along with community negotiated discounts. To get started, please complete the form below:
What Is Enterprise Performance Management Software?
Enterprise performance management (EPM) software is an on-premise or cloud-hosted digital tool designed to collect and manage metrics related to financial performance and business planning processes.
Enterprise applications for performance management will often cover budgeting, forecasting, and profitability planning solutions. The core functionality of EPM software is to help you analyze, understand, and report on your enterprise workflow methodologies.
What Is The Difference Between ERP And EPM Software?
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.
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.
Need expert help finding the right Budgeting & Tracking software?
We’ve partnered with the software comparison portal Crozdesk.com to help you find the right solution. Crozdesk’s Budgeting & Tracking software advisors can give you independent advice and shortlist software products that best fit your specific needs. Our partnership gives you free access to their tailored software selection advice and community negotiated discounts, taking the hassle out of the research process.
It takes just a minute to submit your requirements and they will give you a call at no cost or commitment. You’ll get custom product shortlists covering the top solutions that best fit your specific needs from their team of software experts (via phone or email) and they can even connect you to your choice of the selected vendors. To get started, please submit the form below: