What Does Enterprise Performance Management Mean?
Enterprise Performance Management (EPM) is a type of business planning that relates to business intelligence (BI), which involves evaluating and managing performance for an enterprise to reach performance goals, enhance efficiency or maximize business processes.
EPM is also known as Corporate Performance Management (CPM) or Business Performance Management (BPM). However, some experts consider EPM a BPM subset.
Techopedia Explains Enterprise Performance Management
EPM also relates to Enterprise Resource Planning (ERP), which involves reviewing available enterprise resources and determining how those resources are used to reach certain business goals. The business goals associated with ERP processes and EPM are often similar. For example, the use of staffing teams, new technologies or other existing resources may improve performance in a given set of business processes.
Those planning for EPM typically review performance metrics related to value and cost. For example, EPM may involve evaluating overhead costs and how those costs relate to performance goals. Those involved in an EPM process also may review return on investment (ROI). All of this information is used to determine how to optimize performance and create more profit or value for the enterprise.