This is a list of what most of my clients tell me they want. I propose that this list is exactly what EPM delivers.
So unless I hear otherwise, these are the 8 principles of enterprise performance management:
- We have a lot of data, we’re getting more every minute, and we want to use it to compete better;
- To use all that data, we want to gather it and transform it so that it makes sense;
- We want new insights into our business, based on the facts gleaned from the data;
- We want to know what levels of performance are possible in our industry, for our business, in the future;
- We want accountability at all levels of the organization for achieving what’s possible;
- We want uniformity of the facts so we can speak a common business language;
- We want a closed-loop management system that supports continuous performance improvement;
- We want all of this to align with and support our most important business objectives.
I would say this is almost perfectly supported by the EPM management operating system.