What Is Enterprise Performance Management Software?

Not a lot of people know this, but Enterprise Performance Management software (EPM) is a different type of software than an Enterprise Resource Planning (ERP), although both are aimed at helping business manage their finances. But what is the difference that makes the difference between EPM and ERP? Read in this https://www.i-nexus.com/program-management-software site to know more about software.

The difference is the intended party. While ERP software is commonly used in managing day-to-day finances, EPM software has a five-year horizon, which means that it can track a company’s financial performance within the last five years. This means that while ERP can be used by anyone in the finance department, the EPM is made specifically for the Chief Financial Officer and his staff.

So, as you are thinking about whether to get EPM or ERP software, the quick answer to the question is this: You should get both. Because your staff will definitely need ERP to manage the books on the daily basis, your finance team will need all the right tools such as EPM to consolidate reports as well as make an accurate assessment of where the company stands management-wise.

Just like ERP, there are many brands of EPM software available in the market. For your own sake, though, you will definitely want to get a product that is easy-to-use and manage. How much does it cost?

Useful information from www.i-nexus.com – Most software brands charge a monthly and/or one-time fee per user. So, if you have ten employees under the CFO and the software costs $10 per month, it is going to cost you $100. Be aware, though, that the best products in the market cost so much more.

Celoxis, Clarizen, and Microsoft are considered some of the best Enterprise Performance Management software tools to use and they cost $25, 45, and $33, respectively. Other brands that are also considered one of the best cost around the same.