Why Anaplan Stands Out in Enterprise Performance Management
Navigating the myriad claims from various enterprise performance management (EPM) application vendors can be challenging. At Innopher, we advocate for Anaplan as the superior EPM platform due to its distinct advantages.
Fully Integrated Components
Historically, EPM solutions consisted of multiple disparate components. Let’s examine two cases to illustrate this:
EPM for Passenger Airlines
Over the past decade, several profitability systems for passenger airlines were implemented, requiring a complex array of components. This included developing a datamart based on a standardized data model, populating it with hierarchical and transactional data, using an Extract Transform and Load (ETL) tool, transferring data to a calculation application, and integrating an additional budgeting tool for remote data entry. This setup involved five different applications, each requiring intricate systems integration and skilled consultants for any modifications.
EPM in a Pharmaceutical Company
A client needed to forecast sales for 20,000 products at 2,000 customer sites, each with different contract renewal dates. Initially, this involved a lot of manual spreadsheet work, taking weeks each month to complete. The system was upgraded with three integrated components: a calculation tool, a datamart, and a BI tool. However, workflow control was still lacking.
Anaplan revolutionizes these scenarios by offering a single, integrated application. Data is loaded into an Anaplan Datahub model, calculations are run within Anaplan, and results are available on Anaplan Dashboards. While not an ETL tool, Anaplan’s integrated data load functionality suffices for many business needs, simplifying the process significantly.
Flexibility vs. Complexity
Traditional EPM applications from major vendors are designed to handle complexity but often lack flexibility. Configuring these applications requires bending business requirements to fit the software and involves significant costs for skilled resources. Anaplan, on the other hand, excels in both flexibility and complexity. Its modeling tool is highly adaptable, enabling it to handle complex scenarios just as well as traditional tools, but with greater ease and efficiency.
Anaplan is Always “There”
Real-time Calculations: Anaplan’s advanced in-memory calculation technology recalculates dependent results instantly, providing near real-time updates.
Cloud-Based and Always Up-to-Date: As a cloud-based service, Anaplan regularly releases new functionality, ensuring clients always use the latest version without costly upgrades or regression testing.
Integrated Manual Data Entry: Unlike traditional EPM systems that require separate components for manual data entry, Anaplan integrates this seamlessly through Dashboards, allowing immediate updates.
Key Components of EPM Systems
EPM systems consist of several critical components that enhance business performance:
Strategic Planning: EPM acts as the execution engine for monitoring performance against strategic goals.
Budgeting & Forecasting: Integration, automation, and advanced analytics improve accuracy and efficiency.
Financial Consolidation & Reporting: Automates processes to reduce errors and focus on strategic activities.
Performance Analysis: Provides a data-driven foundation for strategic decision-making.
Scenario Modeling: Helps manage risk and allocate resources effectively.
Profitability & Cost Management: Streamlines operations and improves efficiency by identifying cost drivers and profitability.
Benefits of EPM Systems
Implementing EPM offers numerous benefits:
Increased agility
Streamlined processes
Data-driven culture
Enhanced strategic alignment
Improved risk management
Cost optimization
Scalability
Anaplan: A Leader in EPM Tools
Anaplan stands out for its cloud-based platform known for scalability, versatility, and real-time data. It integrates seamlessly with ERP and BI systems, making it a preferred choice for organizations seeking advanced EPM solutions.
Future Trends of EPM Solutions
The future of EPM includes using AI and machine learning to predict trends, adopting cloud-based solutions for flexibility, and focusing on sustainability reporting to meet ESG goals. AI and ML make data analysis and routine tasks easier, while cloud platforms offer flexibility and cost savings. Sustainability reporting helps businesses comply with regulations and improve efficiency.
By using EPM solutions like Anaplan, organizations can handle complex business challenges, achieve their goals, and stay competitive.