The Hackett Group: New Enterprise Performance Management Software Provider Study Finds Modern Cloud-Based Software Delivers Far Greater Value Realization Than Legacy Systems
Research Finds Customer Demand for Cost Reduction, Actionable Information and Agility Are Driving Vendor Innovation, With AI a Clear Provider Focus to Leapfrog Productivity and Insight
The EPM Digital World Class Matrix research provides comprehensive analysis of 12 leading EPM software providers and their individual ability to deliver value. It also offers insights on key benchmarking metrics and return on investment measures for finance leaders looking to shape the future of the autonomous enterprise.
The research from
Other integrated EPM rankings were as follows. Four software providers were classified as “Challengers”:
In the Digital World Class Matrix ranking of planning and forecasting EPM software providers, six software providers were classified as “Challengers”: Acterys,
Finally, in the Digital World Class Matrix ranking of close and external reporting EPM software providers, six software providers were classified as “Challengers”: BlackLine,
The research quantified the improved value realization for Digital World Class software providers, including:
- 55% more time analyzing information versus compiling data
- 3X better forecast accuracy
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$48 million annual cost advantage (for a typical$10 billion company) - Far greater customer satisfaction, with 94% of companies satisfied to extremely satisfied with their deployments
The EPM Digital World Class Matrix study found that requirements vary significantly across organizations and recommends that prospective buyers carefully consider their business process framework, integration and data management complexities, partner relationships, expected benefits, workforce maturity, investment budget, and geographic reach as part of the selection process. Functionality offered, ease of adoption and reporting/analytics scored as the top three reasons for selection. Clearly defined program scope plus process simplification/governance and resource staffing were cited as the most crucial factors for successful implementation delivery and user satisfaction/experience. Faster, deeper insights; proactive capabilities; and modeling agility were cited as the top three value drivers enabling better response to dynamic market changes.
Customer survey participants expected Digital World Class EPM software to transform processes and generate automation time savings and capacity creation of more than 41% for planning and forecasting, and 26% for close and external reporting. Setting clear targets for cost reduction and productivity redeployment were inconsistent, highlighting a key opportunity for organizations to better understand and track realization of their business case strategic objectives. The evolution from static financial reporting to intelligent, collaborative and predictive optimization improves operational decision making, controls costs, and accelerates growth.
“Innovations in cloud EPM offerings, including artificial intelligence and machine learning, are accelerating benefit realization and driving significant capability enhancement in predictive analytics, real-time decision making and decision support,” stated
The EPM Digital World Class Matrix and related research are products of The Hackett Group’s
The EPM Digital World Class Matrices are part of The Hackett Group’s full 65-page research report. The EPM Digital World Class Matrices should be read in the context of the entire report. A 20-page summary report is also available on a complimentary basis, with registration, at https://go.poweredbyhackett.com/dmepmsum2402nr. Inquiries regarding purchase of the full research report can be made at https://go.poweredbyhackett.com/dmepmful2402nr or by visiting the web page for our
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