Enterprise performance management

Enterprise Performance Management (EPM), in simple terms, is a way for big companies to keep track of how well they are doing at achieving their goals. Imagine that you and your friends are playing a game together, and you want to make sure that you are all playing well and winning the game. EPM is a bit like the scorekeeper in the game, who keeps track of everyone's progress and scores.

In a big company, EPM is used to measure all kinds of things that are important for the company to achieve its goals, like sales figures, profits, customer satisfaction, and employee performance. It helps the company to see how well it is doing in these areas, and to make decisions about how to improve things if necessary.

To do this, the company uses EPM software that collects data from different parts of the company, like sales reports, financial statements, and employee reviews. It then puts all this data together in one place and shows it in easy-to-read charts and graphs. Just like you and your friends can quickly see who is winning the game by looking at the scorekeeper's board, the company's managers can quickly see how well the company is doing by looking at the EPM software.

The managers can then use this information to make decisions about how to improve things, like setting new sales targets, hiring more employees, or improving customer service. Just like you and your friends might change the rules of the game to make it more fun or challenging, the company might change its strategies to improve performance.

In summary, EPM is like the scorekeeper in a game, but for a big company. It collects data from different parts of the company and shows it in easy-to-read charts and graphs, so that managers can see how well the company is doing and make decisions about how to improve things.