By Paul Bouchier
Sales Director at iOCO, within iOCO Software Distribution, an Infor Gold Partner
Every organisation would perform better with access to deeper operational insight. Here, enterprise resource planning (ERP) solutions are invaluable for collecting data in a single place in the new self-services business environment. Now the question arises; what do we do with this data?
This is where enterprise performance management (EPM) comes in.
Why Not ERP Alone?
When it comes to driving total operational efficiency, ERP systems are critical – but they only give the business half the story. ERP systems:
• Are – Optimised for back-office transaction processing and operational process support
• Are not – Agile enough to support complex financial processes
Enter EPM
With the right EPM solution, like Infor’s Dynamic Enterprise Performance Management (d/EPM) system:
• Spreadsheets and proprietary applications are replaced
• Complex financial management processes are effectively tracked, optimised, and managed
• The ERP system is bolstered
Learned Decision Making: Know Before You Act
One of the biggest benefits of integrating EPM with ERP is the access to real-time, actional insights driving informed decisions. When data assets are trapped in the ERP system the lag in extracting information to drive operations can effectively mean businesses are operating blindly. This is even more so when businesses are running on aging, outdated, or legacy systems.
Infor d/EPM drives learned decision making by pulling this data out of the ERP system in real-time, making the business applications:
• Flexible, agile, and able to support changes quickly, so the business can keep pace with competitors
• Exceed customer expectations with faster time to market, better turnaround times, and greater insight to anticipate needs
• Ensure your continuous operations are free of service disruptions
So, Why Integrate EPM with ERP?
When Infor d/EPM is integrated with the ERP system, the business can:
• Leverage advanced analytics to give finance the tools needed for value-added decision support by providing insight into key areas such as financial consolidation, reporting, budgeting, and forecasting
• Support ERP system users with a robust analytical engine that translates data collected from accounts payable, accounts receivable, fixed assets, purchasing, and inventory control systems, offering valuable insight into the overall health of the organisation
• Automate data consolidation for financial close and reporting activities, moving away from manual spreadsheet tools that are rife with accuracy, scalability, and audit concerns
• Consolidate data into a single repository that provides enhanced reporting through financial intelligence of underlying metadata, integrated financial statements, creation and management of KPIs, and presentations
For more information about how best to integrate Infor d/EPM with your ERP system, please contact Paul Bouchier at paul.bouchier@ioco.tech.