Enterprise Performance Management Market - Growth, Trends, COVID-19 Impact, andPosted by Statzy Market Research on May 21st, 2021 The increasing need to have a transparent business strategy, growing focus on core business, overall improvement in performance, and rising data-driven decision making in the organization is driving the growth of the EPM market. - The increase in the adoption of cloud-based EPM across the world is gaining traction of the market. For instance, In February 2020, Harper College deployed Oracle Cloud Applications to bring HR and finance teams together, where Oracle ERP Cloud and Oracle EPM Cloud are expected to enable accurate and efficient process financial information, track project statuses, and identify patterns in operational and financial data. - The integration of Robotic Process Automation Tools in enterprise performance management is one of the critical EPM market trends that is influencing growth. The inclusion of RPA in the enterprise’s performance management processes will enable employees to focus more on core operations. UiPath and Oracle recently collaborated to combine powerful RPA of the former with Oracle’s cloud platform and business applications to streamline critical workflows and processes. - Moreover, the companies are adapting to various merger and acquisition strategy to develop new products and expand its product portfolio to different geographies. ​For instance, In March 2020, Inspirage acquired Vertical Edge Consulting Group to strengthen its capability to implement a full suite of Oracle ERP Cloud applications for companies. - COVID-19 is expected to have a positive impact on the market studied. Since the financial disruption for some of the businesses is unprecedented, companies are expected to deploy EPM software for impact analysis. With many companies, like TCS, already planning to restructure business processes, remote performance management modules are also likely to be added to the existing EPM Tools in the future. Free Sample report for this report is available :- https://www.statzyreports.com/report/sr498734/enterprise-performance-management-market Key Market Trends
- Thereby, Companies in the BFSI sector are increasingly deploying EPM applications to enable financial planning and budgeting processes streamlining. Blue Link ERP Launched the Financial Report Writer in Aug 2019 that is expected to aid its deployment in the BFSI sector. Also, industries such as the Swedish banking industry, the Thai banking industry have started to implement progress management solutions into their core operations. - Also, with the introduction of cloud-based bespoke solutions has enabled the broader deployment of EPM solutions across the industry. Oracle offers SAP S/4HANA Finance that is an ERP financial management and accounting software solution that covers everything starting from business planning and analysis to treasury management and collaborative finance operations. - Additionally, The global pandemic COVID-19 causing the disruption in business operations in the BFSI sector is expected to enable companies to deploy EPM software for such business impact analysis. Moreover, with the various company working remotely, the EPM software is providing much-needed support to maintain the business requirement's nitty-gritty. For instance, Oracle Hyperion EPM is evaluating the user environment and determining the needs that are to be tuned to optimize the experience of remote users. - As the emerging countries such as India in the region with the growing regulatory controls, rapid and highly competitive business across the industries has increased the need for the guidance of business strategies added with the unprecedented and unrelenting pressure on finance professionals is driving the demand for EPM solutions. - For instance, In July 2019, Hindalco Industries Ltd, a subsidiary of Aditya Birla Group, owing to issues with the seamless collection of data and filing the financial reports added with the tight deadline, announced the adoption of the Oracle EMP cloud to streamline its financial reports. - Also, the growing 5G networks are expected to aid the remote deployment of such software in end-user segments like banking. The Telecom Regulatory Authority of India has proposed the sale of 20 MHz blocks initially and plans to increase it to three-fold to 7.5 million route kilometers by 2022. - Besides, China's government has launched the 'Made in China 2025' initiative for improving the country's manufacturing competitiveness. The goal of upgrading the nation's manufacturing capacity is expected to lead to higher deployment of such software. - August 2019: Oracle Corporation announced Oracle Blockchain Platform Enterprise Edition 19.3 for On-premise Deployment ideal for customers experiencing various data sovereignty or data residence issues Oracle Cloud Platform. It provides an independently-installable version of the Oracle Blockchain Platform built on Docker containers. - May 2019 - Host Analytics Inc, a leading player offering connected financial planning and close solutions, launched a new solution integration with Blackline, to accelerate and automate the financial close, consolidation, and reporting process for midsized and large enterprises. For sample report please visit : https://www.statzyreports.com/report/sr498734/enterprise-performance-management-market Like it? Share it!More by this author |