Enterprise Performance Management Market

Vendors have adopted growth strategies, such as new product launches, product enhancements, acquisitions, collaborations, and partnerships in Enterprise Performance Management Market

Enterprise Performance Management (EPM) is a process undertaken by enterprises with an aim at enhancing the overall efficiency of processes by connecting business strategies with planning and execution. It is a set of management and performance analysis processes, such as planning, monitoring, budgeting, modeling, consolidating, and reporting, for improving business performance. Moreover, EPM systems assist business users in achieving business objectives, as they can provide data-driven insights by analyzing organizations’ internal and external data.

MarketsandMarkets forecasts the global EPM market size to grow from USD 7.28 million in 2018 to USD 11.72 million by 2023, at a Compound Annual Growth Rate (CAGR) of 10.0% during the forecast period.

Major vendors in the global EPM market include SAP (Germany), IBM (US), Oracle (US), Workiva (US), Adaptive Insights (US), Anaplan(US), Host Analytics (US), Infor (US), Longview (Canada), CCH Tagetik (Italy), Prevero (Germany), Prophix (Canada), Vena (Canada), Kaufman Hall (US), Deloitte (US), BOARD (Switzerland), Corporater (Norway), HCL (India), SAS Institute (US), MicroStrategy (US), Capgemini (France), CA Technologies (US), The Hackett Group (US), Emtec (US), and KPMG (UK). These vendors have adopted growth strategies, such as new product launches, product enhancements, acquisitions, collaborations, and partnerships, to offer feature-rich products, solutions, and services to their customers and expand in untapped regions.

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SAP has adopted effective organic and inorganic growth strategies to attain maximum growth. It has been gradually increasing its focus on strengthening its business performance portfolio. The company is adopting organic and inorganic growth strategies to attain a competitive position in the EPM market. For instance, in December 2016, SAP introduced SAP Digital Boardroom in India. The solution is designed for contextualizing and simplifying performance reporting across business areas in real time. It is built on SAP Analytics Cloud, which leverages the benefits of line-of-business data from SAP S/4HANA and other applications for providing real-time insights to the company.

Oracle offers a comprehensive portfolio of products and services, which provide unmatched quality and deliver optimum performance. It is one of the leading global providers of EPM solutions and services. The company is significantly investing in R&D activities to introduce new innovative solutions and gain a competitive edge in the market. It is focusing on organic growth strategies to strengthen its position in the EPM market. For instance, in February 2018, Oracle announced Oracle Enterprise Data Management Cloud as a part of Oracle EPM Cloud. The new offering provides a unified platform that simplifies the management of critical enterprise data assets, such as chart of accounts, and improves data integrity and alignment.

Related Reports:

Enterprise Performance Management Market by Application (Enterprise Planning & Budgeting, Financial Consolidation, Financial Reporting & Compliance), Business Function, Component, Deployment Mode, Vertical, and Region - Global Forecast to 2023

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Report Code
TC 6658
RI Published ON
10/5/2018
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