Friday 5 July 2013

How To Choose The Best Enterprise Performance Management System?





Choosing the right kind of software application has always been a difficult task for the organization as there are lots of things depended on it, and the difficulty level increased when it comes to choosing a right kind of enterprise performance management application or system. The main reason behind this is its requirements are quite unique based on the business itself.

While there are tons of resources available over the internet about the best practices and methodologies to choose a right kind of software, there are very rare resources that can elaborate the way of choosing a right kind of Oracle Hyperionenterprise performance management system or solution.

Well, choosing the best enterprise performance management system for your enterprise requires you to understand that fact that it will not be the scenario that what works for others will also work for you. Being an enterprise owner, you should be aware about the fact that there is no blueprint for the success in the business domain. There is a huge amount of time spent on the differentiating strategy. And that is the reason why the things that work for others may not work for you. If the strategy is different, then how could you believe that the method that is being used to execute and measure the progress would be same? Of course, it would be different.

Therefore, it is very important to concentrate on your requirements while evaluating or choosing the application or system for the performance management and strategy execution for your organization.

Another thing that you should keep in mind that choosing a software or application for the performance management of your enterprise doesn’t mean you choose an application having tons of innovative technical functionality. Most of the time business often believes that technical functionality is the key aspect of a good EPM application or system. But in reality,
Of course, there is nothing wrong in expecting a technically sound application. But one should think beyond the technical features and search for the application that offer immense flexibility and ease of use that will bring functionality in the hands of the business users while making change management quite easier. Moreover, one should look for the EPM application offering a predictable implementation timeframe, which runs for a short period of time rather than taking months. Also, look for the optimal total cost of ownership (TCO) and other factors that can make sure that the application is easy to sustain for a long period of time.

Don’t go to the application having generic demos and nice presentations as it doesn’t guarantee for the best application. Try to analyze the application in order to see how well a specific application serve your critical business needs or deeds.

Apart from all these, you should look for a few basic things like the level of customization and workarounds offered by the application, does the chosen application fit into your enterprise needs and deeds or not and so on.

Considering the above discussed things will definitely help you choose the right kind of an EPM solution for your organization. Did I leave any point? Do you have more suggestions on choosing a right kind of EPM solutions? Share your views with us by commenting below…!

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