What type of software tools is your organization using for enterprise performance management (EPM) processes such as budgeting, forecasting, financial and management reporting, and business modeling?
Are your EPM processes confined to Finance, or do they extend into line of business operations? The answers to these questions could reveal your EPM IQ, including how your organization compares to others in terms of EPM maturity and what steps you can take to improve.
Why an EPM Maturity Model?
Maturity models are often used in business and information technology (IT) to help organizations identify how well they're performing and what their opportunities are for improvement and transformation. In the world of Finance and EPM, it’s hard to transform when you're hindered by any number of things:
- Undocumented business processes
- No common Chart of Accounts (COA) across the business
- Numerous standalone planning, reporting systems
- Little standardization
- Lots of users and departments with conflicting needs
- Too many spreadsheets
The ultimate goal is to help your organization increase agility to better navigate change, move Finance from counting and scorekeeping to considering the possibilities, and help everyone meet their business goals.
Maturity is not always a factor of time. It's more about experience and learning from mistakes. A maturity model can help you understand your organization's current position, how you compare to your peers, and what your roadmap is to improvement.
Try the Host Analytics EPM Maturity Test
Host Analytics recently introduced an EPM Maturity survey, which is available on our website. This 5-minute survey will provide an immediate score and will let respondents know where they stand on the EPM Maturity Model. Our EPM Maturity model includes 4 steps:
- Level 1 – Beginner: Drowning in Spreadsheets
- Level 2 – Opportunistic: Some Initial Success
- Level 3 – Enterprise: See the Light, Want More
- Level 4 – Transformative: Driving the Business
If you would like to get a quick reading on where your organization stands on the EPM Maturity Model – and what steps you can take to move to the next level or beyond – take 5 minutes to respond to the survey. You’ll find the survey at this link, and we’ll provide immediate and actionable feedback.
Once we collect responses from 50+ companies, we’ll compile the results into a report and will distribute it back to everyone for you to benchmark your position vs. other respondents.
Thanks, and best of luck on your EPM journey!