10 Best Enterprise Performance Management (EPM) Software

In today's volatile business environment, organizations face increasing pressure to make data-driven decisions quickly and accurately. Enterprise performance management software has emerged as a critical tool for businesses seeking to analyze, understand, and report on performance through enhanced planning, budgeting, forecasting, and financial consolidation processes. Unlike traditional Enterprise Resource Planning (ERP) systems that focus primarily on operational data, enterprise performance management software complements ERP by providing deeper management insights that directly impact strategic decision-making.

For C-suite executives, particularly CFOs and finance directors, implementing the right enterprise performance management software can be the difference between reactive management and proactive strategy execution. This comprehensive guide explores what enterprise performance management software is, its key components, leading solutions, and implementation considerations to help your organization make informed decisions about this crucial technology investment.

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What is Enterprise Performance Management Software?

Enterprise performance management software (EPM software) is a unified platform that connects financial and operational data to provide a holistic view of business performance. It enables organizations to set strategic goals, create plans to achieve those goals, monitor progress in real-time, and make necessary adjustments as business conditions change.

EPM software serves as the technological backbone for the broader discipline of enterprise performance management, which encompasses the methodologies, metrics, processes, and systems used to monitor and manage business performance across an organization. The primary purpose of enterprise performance management software is to close the gap between analysis and action through automation and integration.

The evolution of EPM software has been remarkable. What began as basic accounting applications in the 1970s has transformed into sophisticated cloud-based solutions incorporating artificial intelligence and machine learning. Modern EPM systems now offer predictive analytics, scenario modeling, and real-time reporting capabilities that were unimaginable just a decade ago.

Today's enterprise performance management software solutions typically operate as either cloud-based SaaS platforms or on-premise installations, with the industry trend strongly favoring cloud deployment for its flexibility, scalability, and reduced IT overhead. These systems are designed to break down data silos between departments and provide a single source of truth for performance data across the organization.

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Top 10 Enterprise Performance Management Software Solutions

While understanding the concepts and benefits of EPM software is important, selecting the right solution for your organization requires evaluating specific platforms. The following list represents leading enterprise performance management software solutions across different use cases and organizational needs, each with distinct strengths. Remember that the "best" solution depends on your organization's specific requirements, existing technology stack, and strategic priorities.

1. Vena — Best for Automating Administrative Tasks

Vena specializes in automating repetitive financial planning and analysis tasks that typically consume significant time for finance teams. What sets Vena apart is its unique approach of combining the familiarity of Excel with the power of a centralized database, allowing teams to maintain their existing workflows while gaining automation benefits.

Vena excels at eliminating manual data consolidation, reducing errors in financial reporting, and streamlining approval workflows. Its native Excel integration makes it particularly valuable for mid-sized companies looking to transition from spreadsheet-based processes without facing a steep learning curve. Key features include workflow automation, collaborative planning capabilities, and pre-built templates for common financial processes.

2. Jedox — Best for AI-Supported Planning and Forecasting

Jedox stands out for its advanced artificial intelligence and machine learning capabilities that enhance forecasting accuracy and automate predictive analytics. The platform identifies patterns in historical data to generate more accurate projections, helping organizations make more informed decisions about resource allocation and strategic initiatives.

Combining traditional EPM functionality with modern predictive capabilities, Jedox supports both operational and financial planning. Its in-memory database architecture enables real-time analysis and scenario modeling, making it ideal for organizations with complex forecasting needs who want to leverage AI without requiring extensive data science expertise.

Jedox particularly excels at driver-based planning and what-if analysis with AI-enhanced insights, allowing finance teams to model multiple scenarios quickly and identify the most promising paths forward.

3. Workday Adaptive Planning — Best for Versioning and Scenario Analysis

Workday Adaptive Planning excels at managing multiple versions of plans and facilitating sophisticated scenario modeling. Its "OfficeConnect" functionality enables users to create and compare unlimited scenarios without disrupting active plans, making it ideal for organizations operating in volatile markets requiring frequent plan adjustments.

The platform's modeling capabilities help organizations test different assumptions and evaluate potential outcomes before making strategic decisions. Its collaborative planning features allow different departments to work on their own versions while maintaining visibility into the overall plan, promoting alignment across the organization.

Workday's cloud-native architecture and real-time reporting capabilities make it particularly valuable for organizations with complex scenario planning needs across multiple business units. The platform's intuitive interface also makes it accessible to users beyond the finance department, encouraging broader participation in the planning process.

4. OneStream XF — Best EPM Software for Manufacturing Operations

OneStream XF is specifically designed to meet the complex requirements of manufacturing organizations. It handles manufacturing-specific planning needs like production planning, supply chain analytics, and operational profitability analysis, integrating financial and operational data to provide comprehensive visibility into manufacturing performance.

Its unified platform approach consolidates financial consolidation, planning, reporting, and analytics in a single solution, eliminating the need for multiple point solutions. OneStream's capabilities in intercompany eliminations, multi-currency consolidation, and extensible dimensionality make it particularly well-suited for manufacturing operations with complex structures across multiple locations.

Manufacturing organizations requiring integrated financial and operational planning find OneStream's purpose-built functionality valuable for connecting shop floor metrics with financial outcomes, providing a complete picture of performance.

5. Epicor — Best EPM Software for Retail Analytics

Epicor is purpose-built for retail organizations with specialized capabilities for merchandise planning, inventory optimization, and customer analytics. It addresses retail-specific challenges like seasonal demand forecasting, promotional planning, and assortment optimization, connecting point-of-sale data with financial planning to provide real-time visibility into retail performance.

The platform excels at managing complex retail hierarchies across locations, product categories, and customer segments, enabling rapid decision-making in a fast-paced retail environment. Its demand forecasting, space planning integration, and markdown optimization features make it particularly valuable for retail organizations operating multi-location operations with complex inventory and merchandising requirements.

Retailers looking to optimize their how to build a marketing team from scratch will find Epicor's retail-specific analytics particularly helpful in aligning marketing initiatives with inventory and sales performance.

6. Planview Enterprise One — Best for Enterprise Project Portfolio Management

Planview Enterprise One integrates project portfolio management with enterprise performance management capabilities, enabling organizations to align project investments with strategic objectives and measure the performance impact of their project portfolios. It connects resource management, financial planning, and project execution to provide comprehensive visibility into project performance and ROI.

The platform excels at prioritizing projects, allocating resources, and forecasting project-related financial outcomes, making it ideal for project-intensive organizations like professional services firms, IT departments, or product development organizations. Its resource capacity planning, project financial management, and portfolio optimization capabilities help organizations ensure that project investments deliver maximum strategic value.

Organizations looking to implement benefits hiring embedded teams startup strategies will find Planview's project portfolio management capabilities particularly valuable for tracking performance and ROI.

7. Axiom Software — Best EPM Software for Finance Teams

Axiom Software is specifically designed around the needs and workflows of corporate finance teams. It streamlines core FP&A processes including budgeting, forecasting, reporting, and analysis without requiring extensive IT involvement, empowering finance professionals with self-service capabilities while maintaining governance and control.

Its pre-built financial models and templates accelerate implementation and reduce configuration requirements, making it particularly valuable for finance teams at mid-sized companies who need powerful EPM capabilities without the complexity of enterprise-scale solutions. Features like financial statement modeling, variance analysis, and departmental collaboration tools are designed specifically for finance practitioners.

Finance teams looking to enhance their capabilities without adding significant IT overhead find Axiom's finance-centric approach particularly effective for improving financial planning and analysis processes.

8. Oracle EPM Cloud — Best for Financial Close Solutions

Oracle EPM Cloud offers sophisticated financial close and consolidation capabilities that are considered industry-leading. It automates complex close processes including intercompany eliminations, currency translation, and regulatory reporting, providing visibility into close task status and enabling faster, more accurate closes.

Its comprehensive financial consolidation capabilities handle even the most complex organizational structures and accounting requirements, making it ideal for large enterprises with complex consolidation requirements, multiple legal entities, and stringent regulatory reporting obligations. Oracle EPM Cloud's integration with Oracle ERP Cloud and other Oracle applications, as well as its support for multiple accounting standards (GAAP, IFRS, etc.), makes it a powerful solution for organizations with complex financial reporting needs.

Large enterprises with sophisticated financial close requirements find Oracle's purpose-built functionality particularly valuable for streamlining and automating the close process.

9. EPM Live — Best for Microsoft SharePoint Integration

EPM Live uniquely integrates with Microsoft SharePoint to provide EPM capabilities within an environment familiar to many organizations. It leverages existing SharePoint infrastructure while adding specialized performance management functionality, enabling organizations to manage projects, resources, and performance metrics without requiring users to learn an entirely new platform.

This integration makes EPM Live particularly valuable for organizations already heavily invested in the Microsoft ecosystem who want to extend SharePoint's capabilities into EPM without adding separate systems. Its project management, timesheet tracking, and portfolio analytics capabilities within the SharePoint framework provide a familiar environment for users while delivering powerful EPM functionality.

Organizations looking to implement how to build a strong culture with a remote team will find EPM Live's collaborative features within the familiar SharePoint environment particularly helpful.

10. Infor d/EPM — Best User-Friendly Modeling Tool

Infor d/EPM is known for its intuitive design and ease of use, particularly in building and maintaining financial models. Its user-friendly interface reduces the learning curve typically associated with EPM software implementation, enabling finance professionals to build sophisticated models without requiring extensive technical expertise or IT support.

The platform's drag-and-drop functionality and visual modeling capabilities make complex planning scenarios more accessible, making it ideal for organizations prioritizing rapid user adoption and self-sufficiency in model building and maintenance. Its in-memory calculation engine provides fast performance even with complex models, allowing users to analyze large datasets and complex scenarios quickly.

Organizations seeking to balance ease of use with powerful functionality for planning, budgeting, and forecasting find Infor's approach particularly effective for promoting user adoption and self-service analytics.

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Key Components of Enterprise Performance Management Software

Modern enterprise performance management software typically includes several core components that work together to provide comprehensive performance management capabilities. Understanding these components can help organizations evaluate solutions based on their specific needs.

Strategic Planning

The strategic planning component of EPM software facilitates setting long-term goals and objectives, translating high-level strategies into actionable plans with measurable targets. It enables alignment between corporate objectives and departmental goals, ensuring that everyone is working toward the same outcomes.

Strategic planning modules typically include tools for scenario modeling, goal setting, and initiative tracking. They help organizations define key performance indicators (KPIs) that align with strategic objectives and provide a framework for monitoring progress toward those goals. This component serves as the foundation for the entire performance management process, establishing the targets that other components will measure against.

Budgeting and Forecasting

The budgeting and forecasting component streamlines financial planning processes through automation and collaboration features. It enables rolling forecasts that can be updated continuously rather than just annually, providing more agile financial planning capabilities that can adapt to changing business conditions.

Advanced EPM solutions incorporate driver-based budgeting that connects operational metrics to financial outcomes, creating more accurate and meaningful forecasts. These tools allow for both bottom-up and top-down budgeting approaches and facilitate budget approvals through automated workflows, reducing the time and effort required to create and maintain budgets.

Organizations implementing how to make your talent acquisition strategy succeed will find that EPM software's budgeting and forecasting capabilities help align talent investments with financial planning.

Financial Consolidation and Reporting

The financial consolidation and reporting component automates the financial close process, reducing time and errors in financial reporting. It handles complex consolidation requirements including multiple currencies, intercompany eliminations, and varying accounting standards, ensuring accurate and compliant financial statements.

This component generates financial statements and regulatory reports while maintaining audit trails, providing transparency and accountability in financial reporting. Modern EPM solutions offer customizable dashboards and visualizations that make financial data more accessible to non-financial stakeholders, promoting broader understanding of financial performance across the organization.

Performance Measurement and Analytics

The performance measurement and analytics component tracks KPIs across the organization, providing real-time monitoring of actual performance against targets. It helps identify trends, anomalies, and opportunities for improvement, enabling more proactive management of business performance.

Advanced EPM solutions incorporate predictive analytics to forecast future performance based on historical data and external factors, helping organizations anticipate challenges and opportunities before they arise. This component often includes data visualization tools that make complex performance data more accessible and actionable for decision-makers across the organization.

Scenario Modeling and What-If Analysis

The scenario modeling and what-if analysis component enables organizations to model different business scenarios and assess potential outcomes before making decisions. It allows finance teams to test assumptions and evaluate the impact of various decisions, helping organizations prepare for market changes, economic shifts, or unexpected disruptions.

This capability is particularly valuable for strategic planning, risk management, and contingency planning. Common scenarios that businesses might model include acquisitions, new product launches, market expansions, or changes in economic conditions. The ability to compare multiple scenarios side-by-side helps organizations identify the most promising paths forward and develop contingency plans for less favorable outcomes.

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Benefits of Implementing EPM Software

Implementing enterprise performance management software offers numerous benefits that can transform how organizations plan, execute, and monitor their performance. These benefits extend beyond the finance department to impact the entire organization.

Enhanced Decision-Making

Enterprise performance management software provides executives and managers with accurate, timely information to support better decisions. Unified dashboards and reports offer a single source of truth across the organization, eliminating conflicting data and ensuring that everyone is working with the same information.

Data visualization tools make complex information more accessible and actionable, helping decision-makers quickly identify trends, anomalies, and opportunities. Predictive analytics capabilities help leaders anticipate future trends and make proactive decisions, moving from reactive management to strategic leadership.

The real-time nature of modern EPM solutions means that decision-makers have access to the most current information, enabling faster and more confident decision-making in rapidly changing business environments.

Improved Financial Accuracy and Efficiency

EPM software reduces errors and inconsistencies in financial data through automation and standardization of financial processes. It streamlines the financial close process, reducing time and resource requirements while improving accuracy and compliance with accounting standards and regulatory requirements.

By eliminating manual spreadsheet work, EPM software allows finance teams to focus on analysis and strategic activities rather than data collection and reconciliation. This shift from transactional to strategic work not only improves efficiency but also enhances the value that finance teams deliver to the organization.

The automation of routine financial tasks also reduces the risk of human error, improving the reliability of financial data and building greater confidence in financial reporting throughout the organization.

Better Cross-Functional Collaboration

Enterprise performance management software breaks down silos between departments by providing a unified platform for planning and performance management. It facilitates collaboration between finance, operations, sales, marketing, and HR teams, ensuring that all departments are working toward the same goals with a shared understanding of performance metrics.

Shared access to performance data promotes accountability and alignment across the organization, making it clear how each department's activities contribute to overall business objectives. Cloud-based EPM solutions enable remote collaboration, which has become increasingly important in today's distributed work environments, allowing teams to collaborate effectively regardless of location.

This improved collaboration leads to more integrated planning and execution, reducing conflicts between departments and promoting a more cohesive approach to achieving organizational objectives.

Increased Agility and Responsiveness

EPM software enables organizations to quickly adapt to changing market conditions and business requirements. Continuous planning and rolling forecasts replace rigid annual budgets, providing more flexibility to adjust plans as conditions change throughout the year.

Scenario modeling helps organizations prepare for multiple potential futures, developing contingency plans that can be quickly implemented when needed. Real-time performance monitoring allows for faster identification of issues and opportunities, enabling more timely responses to both challenges and opportunities.

This increased agility is particularly valuable in today's volatile business environment, where the ability to pivot quickly in response to changing conditions can be a significant competitive advantage.

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EPM Software vs. Traditional Financial Management Tools

Traditional financial management tools like spreadsheets and standalone financial applications have significant limitations that enterprise performance management software addresses. Understanding these differences helps organizations appreciate the value that EPM software can deliver.

Spreadsheet-based planning and reporting, while familiar and flexible, suffer from several critical limitations. They are prone to errors due to manual data entry and formula mistakes, create version control challenges when multiple users need to collaborate, and lack the scalability needed for growing organizations with complex structures.

Traditional financial applications often focus on specific functions without providing the integrated view that modern businesses need. They typically lack the advanced analytics, scenario modeling, and collaborative capabilities that EPM software offers, limiting their usefulness for strategic planning and performance management.

The historical evolution from basic accounting software and spreadsheets in the 1970s and 1980s to today's sophisticated cloud-based EPM platforms reflects the growing need for more integrated, automated, and insightful performance management tools. Modern enterprise performance management software represents a significant advancement over these traditional tools, offering greater accuracy, efficiency, collaboration, and strategic insight.

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Key Features to Look for in EPM Software

When evaluating enterprise performance management software solutions, organizations should consider several key features that can significantly impact the value and effectiveness of the implementation.

Cloud-Based Architecture

Cloud-based EPM solutions offer several advantages over on-premises alternatives, including lower upfront costs, automatic updates, and accessibility from anywhere. Cloud deployment enables faster implementation and scaling, allowing organizations to get up and running quickly and expand the solution as needs grow.

This architecture facilitates collaboration across distributed teams and locations, which is increasingly important in today's remote and hybrid work environments. Modern cloud EPM providers address data protection concerns through robust security measures, often exceeding what many organizations can implement internally.

The subscription-based pricing model of cloud solutions also converts a large capital expenditure into a predictable operational expense, making it easier to budget for and justify the investment in EPM software.

Integration Capabilities

The ability to integrate with other business systems like ERP, CRM, and HR applications is crucial for maximizing the value of EPM software. Seamless data flow between systems ensures consistency and eliminates manual data transfers, reducing errors and improving efficiency.

Integration with operational systems provides context for financial data and enables more meaningful analysis, connecting financial outcomes with the operational activities that drive them. This comprehensive view helps organizations identify the root causes of performance issues and develop more effective improvement strategies.

When evaluating EPM solutions, organizations should consider both pre-built integrations with common business systems and the availability of APIs and other tools for creating custom integrations with specialized systems.

Advanced Analytics and AI

Modern enterprise performance management software incorporates artificial intelligence and machine learning to enhance forecasting accuracy and identify patterns in data that might not be apparent through traditional analysis. Predictive analytics can help organizations anticipate future performance and identify potential issues before they occur, enabling more proactive management.

AI can automate routine analysis tasks and surface insights that might otherwise be missed, allowing finance teams to focus on interpretation and action rather than data manipulation. Specific AI capabilities found in leading EPM solutions include anomaly detection to identify unusual patterns in financial data, natural language processing for data queries, and automated forecasting that incorporates multiple variables and scenarios.

These advanced analytics capabilities transform EPM from a reporting tool to a strategic advisor, providing insights that can drive better decision-making and performance improvement.

User Experience and Accessibility

Intuitive interfaces and user-friendly design are critical for EPM software adoption and effectiveness. Modern solutions offer role-based dashboards and mobile access to accommodate different user needs and work styles, ensuring that everyone can access the information they need in a format that makes sense for their role.

Self-service reporting and analysis capabilities empower users across the organization to access the information they need without relying on IT or finance specialists, promoting broader use of performance data in decision-making. Visualization tools make complex data more understandable and actionable for non-technical users, translating numbers into insights that can drive action.

The best EPM solutions balance powerful functionality with ease of use, ensuring that the system is accessible to all stakeholders who need to contribute to or benefit from performance management processes.

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Ready to Transform Your Financial Planning and Performance Management?

Looking to implement enterprise performance management software that aligns with your strategic goals? At Lupa, we understand that the right talent is crucial for successful technology implementations. Our premium talent matching service connects you with top-tier finance and technology professionals across Latin America who have deep experience with EPM implementations and financial systems.

Book a discovery call with Lupa today to discuss how our strategic, high-integrity recruiting approach can help you build the team you need to transform your performance management capabilities.

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Frequently asked questions

What is enterprise performance management software?

Enterprise performance management (EPM) software—also called CPM (corporate performance management)—is a planning solution that helps organizations analyze, understand, and report on business performance. It connects data from multiple data sources across finance, operations, and strategy to give you real-time insights into how your company is actually performing. Think budgeting, forecasting, financial consolidation, and scenario modeling—all in one platform. Modern EPM tools pull real-time data to enable faster, smarter decision-making. Some advanced solutions now include AI-powered analytics that predict future performance and automate routine EPM processes, making planning less about spreadsheets and more about strategy.

Is EPM the same as ERP?

No—they're complementary, not interchangeable. ERP systems (like SAP or Oracle ERP) manage day-to-day operations: transactions, inventory, payroll, order processing. EPM tools focus on strategic planning, performance analysis, and financial consolidation. ERP gives you operational data; EPM turns that data into actionable insights. For example, your ERP tracks cash flow transactions, while your EPM software forecasts future cash flow and models different scenarios. Data integration between EPM and ERP systems is critical—EPM pulls from ERP (and other data sources) to provide the full picture. You need both, but they serve different purposes.

Does Microsoft have an EPM?

Microsoft doesn't offer a standalone EPM solution in the traditional sense. They have tools like Power BI for analytics and Microsoft Project for project management, but these aren't full EPM tools. If you're in the Microsoft ecosystem and need EPM processes like budgeting, forecasting, or account reconciliation, you'd typically integrate third-party EPM software (like Vena or Planview) with your existing Microsoft infrastructure. Some EPM vendors build specifically for Microsoft environments—EPM Live, for example, integrates with SharePoint. But if you're looking for a comprehensive planning solution with financial consolidation and scenario modeling, you'll need to go beyond Microsoft's native offerings.

Is EPM part of SAP?

SAP offers EPM functionality through several products—most notably SAP Analytics Cloud (SAC) for planning and analysis, and SAP S/4HANA for financial consolidation. These aren't standalone "SAP EPM" products; they're modules within SAP's broader suite. SAP Analytics Cloud handles budgeting, forecasting, and scenario planning, while S/4HANA manages financial close and consolidation. If you're already using SAP ERP systems, SAP's EPM tools integrate natively, which simplifies data management and eliminates manual data transfers. That said, many SAP customers still choose best-of-breed EPM solutions from vendors like Oracle or OneStream if they need more specialized capabilities beyond what SAP offers.

What is the difference between SAP EPM and ERP?

SAP ERP (like S/4HANA) handles transactional operations—procurement, manufacturing, financials, HR. SAP's EPM functionality (via Analytics Cloud and S/4HANA's consolidation modules) focuses on planning, analysis, and performance management. ERP processes transactions; EPM analyzes them. For example: SAP ERP records your cash flow transactions and operational data in real time, while SAP's planning solution forecasts future cash flow and enables what-if scenario modeling. The distinction matters because CPM and ERP serve different stakeholders—ERP is for operators running the business day-to-day; EPM is for finance teams and executives making strategic decisions. Data integration between the two is essential for accurate planning.

What are the four types of ERP?

The four main ERP deployment types are: 

1. On-premise ERP—installed locally on your servers, giving you full control but requiring significant IT resources
2. Cloud ERP—hosted by the vendor, offering lower upfront costs, automatic updates, and easier scalability
3. Hybrid ERP—combines on-premise and cloud components, letting you keep sensitive data local while leveraging cloud flexibility
4. Two-tier ERP—large enterprises use a comprehensive ERP (like SAP) at headquarters while subsidiaries use lighter, cloud-based solutions. 

Each has trade-offs around cost, control, and data integration complexity. Note: this is about ERP systems, not EPM tools—though similar deployment models apply to both.

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