Best EPM Software Providers Shortlist
Here is my list of the best online enterprise performance management software:
- Anaplan - Best for demand forecasting and long-range planning
- OneStream XF - Best for manufacturing firms
- Oracle EPM Cloud - Best for financial close management
- Vena - Best Excel-native EPM platform
- Epicor ERP - Best for retailers and e-commerce
- IBM Planning Analytics - Best for change management
- Jedox - Best for mobile
- Workday Adaptive Planning - Best for advanced scenario analysis
- Planview Portfolios - Best for enterprise project portfolio management
- InsightSoftware - Best for custom software solutions
For companies looking to create operating efficiencies and inform high-level strategy decisions, EPM software is a must. EPM solutions help with strategic planning, business process management, and financial planning and analysis.
In this comprehensive guide, I’ll summarize each EPM software’s functionality, usability, features, and price to help you find the best one for your needs.
What is EPM software?
EPM stands for enterprise performance management. EPM software uses data analytics, forecast modeling, and financial planning and analysis to help firms monitor performance, model future scenarios, and plan more effectively.
It’s a dual-purpose software. It lets you drill down into the details and analyze past performance data to better understand the factors driving financial performance. But you can also zoom out and see the big picture, so your team can make more informed decisions and implement the right changes moving forward.
Corporate financial management is EPM software’s primary use case—helping to streamline the financial closeout and consolidation process. Accounting and finance departments rely heavily on EPM software for its budgeting, planning, and reporting features as well.
Overview of the Best EPM Software for 2023
Based on the selection criteria outlined in this guide, here’s my list of the best EPM software solutions on the market.
1. Anaplan - Best for demand forecasting and long-range planning
Anaplan is an industry-leading EPM software that has applications for finance, sales and marketing, supply chain management, and HR. The advanced platform is used by thousands of large enterprises, including Coca-Cola and Amazon Web Services—but it’s versatile enough for companies of all shapes and sizes.
Why I picked Anaplan
I selected Anaplan because of its supply chain management tools and advanced forecasting features. It has solid applications enterprise-wide, but it’s particularly useful for supply chain and procurement.
In the age of supply chain disruptions, Anaplan’s inventory management features really stand out. Anaplan can help you predict future demand with more accuracy, so you have time to ramp up, or slow down, production accordingly.
Anaplan Standout Features and Integrations:
Standout features of Anaplan include its scenario planning and demand forecasting capabilities. It can give you predictive warnings for low-stock levels, inventory shortages, excess inventory alerts, and other information to help manage your supply chain.
Anaplan makes data more accessible, so business leaders can model complex “what if” scenarios to help firms identify the most profitable price point for a product or the ideal reorder point for different inventory items.
Integrations include cloud data platforms from AWS, Microsoft Azure, and Google BigQuery.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Advanced supply chain management features
- Departmental solutions across finance, marketing, and HR
- Personalized demos available with customized setup
Cons
- Steep learning curve
- Additional fee for most features and add-ons
2. OneStream XF - Best for manufacturing firms
OneStream XF is a comprehensive EPM solution for midsize and large organizations. The platform boosts organizational agility with its advanced budgeting, planning, and forecasting functionality. OneStream’s core functionality can be expanded with more than 30 native XF apps, including apps for task management, capital planning, and tax provisioning.
Why I picked OneStream XF
I selected OneStream XF because of its forecasting and planning features, particularly for manufacturing firms. OneStream is versatile enough to be deployed in virtually any industry, but I particularly like its feature set for manufacturing firms.
The platform blends top-down visibility with the ability to drill down into product lines, geographical regions, and customer accounts to identify trends and track performance.
OneStream XF Standout Features and Integrations:
Standout features of OneStream XF include product line/brand-specific planning and analysis, making it easier for manufacturing firms to analyze profitability across product categories, along with access to the XF Marketplace with 30+ native apps for plug-and-play functionality expansions.
Profitability analysis forecasting lets managers assess the impact of new strategies, price points, or product lines, while predictive analytics draws insights from over 10 built-in predictive analysis models.
Integrations include Microsoft Excel, Microsoft Azure, SAP, and dozens of native apps that can be added to OneStream directly.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Extensive selection of native apps to expand functionality
- Drill-down planning across product lines, regions, and customers
- Beautiful and intuitive dashboard displays
Cons
- Not very user-friendly
- May require professional implementation for initial setup
3. Oracle EPM Cloud - Best for financial close management
Where the software shines brightest is in finance: Oracle is known as a leading platform for financial close solutions. Automatic cash flow and balance sheet calculations, intelligent process automation, and built-in reporting standards are just a few of the standout features for finance departments.
Why I picked Oracle EPM Cloud
I picked Oracle Cloud EPM primarily because of its financial close features, global reporting standards functionality, and multi-currency support. This platform also excels for multinational firms. Multi-currency support and global reporting standard compliance tools help large organizations manage global operations more efficiently.
Oracle EPM Cloud Standout Features and Integrations
Standout features of Oracle EPM Cloud include personalized recommendations from comprehensive AI, built-in global reporting and compliance standards and multi-currency support for international firms, and tools for efficient financial closing.
Oracle EPM Cloud helps organizations manage, plan for, and model scenarios for specific departments, regions, or market segments. It’s still easy to drill down on a local or product-line level, making Oracle Cloud EPM a versatile tool.
Integrations include Microsoft Excel, Word, PowerPoint, and native apps for reconciliation, tax reporting, and financial consolidation.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Streamlined financial closing and account reconciliation
- Direct integration with MS Excel
- Pre-built departmental solutions with the ability to customize
Cons
- Data retrieval can be slow
- Difficult UI for new users
4. Vena - Best Excel-native EPM platform
Vena is a comprehensive EPM platform that’s built on the framework of Microsoft Excel. It inherits the familiar Excel interface and expands on the functionality of Office 365 Suite. It’s profoundly simple in a way, but it has a wide range of data analysis features and planning tools that help companies make the most of their data.
Why I picked Vena
I picked Vena because it’s built on the back of Excel, one of the most popular spreadsheet and business tools ever made. Vena is user-friendly and is an easy switchover for Excel-familiar firms.
Vena is built for Microsoft 365 and Dynamics 365/Power BI users. And really, it’s best used in combination with existing Microsoft products. The solution does not support Mac products, and while it does offer third-party integrations with tools like Sage and NetSuite, it’s best for organizations already utilizing Microsoft software solutions.
Vena Standout Features and Integrations:
Standout features of Vena include collaborative functionality for teams (like threaded comments, task management, and tagging), a simple Excel-native design, visual process management, advanced financial modeling, and central database architecture.
Integrations include Microsoft Office 365 Suite, QuickBooks, Sage Intacct, NetSuite, and Salesforce.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Intuitive UI (particularly for Excel users)
- Excellent collaboration and task management features
- Drag-and-drop template and report building
Cons
- Does not support Google Sheets or competing spreadsheet solutions
- Microsoft native; does not support Mac products
5. Epicor ERP - Best for retailers and e-commerce
Epicor Cloud ERP is a versatile enterprise resource planning tool that also offers many features of a traditional EPM platform. Epicor offers retail management software solutions and forecasting, as well as physical, digital, and omnichannel POS systems through Epicor Propello.
Why I picked Epicor Cloud ERP
I selected Epicor Cloud ERP because of its retail-specific solutions, including advanced revenue forecasting, customer loyalty integration, and supply chain management features.
Depending on the deployment level, Epicor’s solutions can offer a comprehensive feature set for large organizations or a cost-effective solution for specific industries or departments.
Epicor Cloud ERP Standout Features and Integrations:
Standout features of Epicor Cloud ERP include Enterprise Search (an internal database search tool) to make navigating internal data easier. The employee scheduling and headcount forecasting features are impressive, and it integrates directly with supported POS and omnichannel systems.
Whether firms use Propello POS systems or not, Epicor’s cloud solutions offer unique insights like competitor price comparisons and guidance for customer loyalty programs.
Integrations include over 1,000 endpoints (via Epicor Integration Cloud), including Microsoft Dynamics 365, Shopify, Salesforce, and QuickBooks.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Unique features for retailers and e-commerce operations
- Excellent supply chain management solution
- Useful database search feature
Cons
- Convoluted order release process
- Initial implementation takes time
6. IBM Planning Analytics - Best for change management
IBM Planning Analytics is a versatile planning tool with applications across sales, marketing, HR, finance, IT, and supply chain. It’s powered by Watson, IBM’s signature Artificial Intelligence technology, which is continually evolving.
As you would expect from a company like IBM, Planning Analytics has the processing capacity to handle massive amounts of user data, and Watson helps power some of the largest organizations in the world.
Why I picked IBM Planning Analytics
I selected IBM Planning Analytics primarily because of its extensive change management planning features.
IBM Planning Analytics is Excel-native and helps businesses automate key processes and utilize predictive capabilities.
IBM Planning Analytics Standout Features and Integrations:
Standout features of IBM Planning Analytics include predictive forecasting with IBM’s industry-leading Watson AI tech, a simple web-based interface that’s cross-platform compatible, and customized planning workflows.
Its customizable dashboards offer in-depth reporting, and intuitive user interfaces are relatively simple for your whole team to utilize.
Integrations include native Excel integration, and other IBM products.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Available for deployment on-premise, cloud-based, or as a SaaS (via AWS)
- IBM Watson engine can handle massive amounts of data
- Surprisingly straightforward UI
Cons
- Limited third-party integrations
- Initial deployment can be slow
7. Jedox - Best for mobile
Jedox focuses on financial and operational insights to help firms accelerate planning, and all of its features are accessible through the mobile app (both iOS and Android).
Why I picked Jedox
I selected Jedox for several reasons, but the main differentiator is that it has a great mobile app on both iOS and Android. While mobile functionality is slightly different from the desktop version, users will still appreciate mobile support.
It utilizes machine learning and AI to help automate certain financial processes and provide predictive analytics to managers. It’s fairly finance-focused but also has some use cases in marketing, HR, and sales.
Jedox Standout Features and Integrations:
Standout features of Jedox include simple deployment for an easy and low-cost setup, a great mobile app, multidimensional data analysis, and machine learning predictive tech. There’s an impressive library of pre-built forecasting models, and Jedox gives you custom modeling abilities as well.
Jedox’s streamlined collaboration features get teams on the same page. Data can be integrated from any source and stored in a central hub that everyone on your team can access.
Integrations include Jedox Marketplace apps for financial consolidation, sales and operations planning, and HR, plus self-service integration with third-party apps.
Pricing: Custom pricing available upon request.
Free Trial: Demo available
Pros
- No-code customization
- Solid mobile app
- Simple customizations and self-service integration
Cons
- Intermittent performance issues and downtime
- Slow support response time
8. Workday Adaptive Planning - Best for advanced scenario analysis
Workday Adaptive Planning is part of the Workday software suite, a set of tools used by the likes of Microsoft, Airbnb, and HubSpot. “Adaptive Planning” is a well-suited name, as Workday users can collaborate across multiple platforms (web, mobile, Excel) to plan and budget with confidence.
Why I picked Workday Adaptive Planning
I selected Workday because it has some of the most advanced scenario analysis tools to help firms plan for contingencies and new strategy implementations.
Workday Adaptive Planning Standout Features and Integrations:
Standout features of Workday Adaptive Planning include work-anywhere deployment (very useful for remote teams), self-service reports, data-driven financial planning and modeling, and interactive data visualizations.
Workday utilizes machine learning and AI to power predictive analysis tech, as well as advanced reporting. Its scenario planning features, in particular, are some of the best in the EPM software industry.
Integrations include other Workday products, over 600 third-party integrations, and full custom integration support.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Rapid deployment
- Access anywhere on any device
- Support for tons of integrations with runtime and tooling
Cons
- Steep learning curve
- Can be slow with heavy data loads
9. Planview Portfolios - Best for enterprise project portfolio management
Planview Portfolios (formerly Planview Enterprise One) is an enterprise portfolio performance management (PPM) system. It focuses on investment prioritization, road mapping, and financial planning for organizations with diversified portfolios.
Why I picked Planview Portfolios
I selected Planview Portfolios because of its unique focus on portfolio management and investment prioritization.
PPM systems like Planview share some overlapping features with traditional EPM software, but the focus is primarily on capital deployment and investment optimization.
Planview Portfolios Standout Features and Integrations:
Standout features of Planview Portfolios include stakeholder engagement tools for investors and co-owners, investment prioritization analysis, trade-off analysis, and custom road mapping for complex operations.
Integrations include SAP, NetSuite, Workday, Salesforce, and Microsoft 365.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Organization-wide OKRs and strategic alignment
- Investment and capital deployment focused
- 200+ report templates for portfolio reporting and performance visualization
Cons
- Very finance-focused; limited use cases outside of finance departments
- Unintuitive UI
10. InsightSoftware - Best for custom software solutions
InsightSoftware offers a suite of tools that are customizable based on your organization’s needs. In fact, it’s among the most customizable of software on this list, because you can pick and choose applications and features during the signup process (which also affects the pricing structure).
Why I picked InsightSoftware
I picked InsightSoftware primarily because of its scalability. It’s simple to choose the features and functionality your firm needs, then add on more as things evolve.
The more EPM-specific features of InsightSoftware are solid, although the tool is often marketed as a supplement to existing EPM or ERP solutions. Regardless, Insight offers comprehensive reporting, budgeting, and planning features across its toolbox.
InsightSoftware Standout Features and Integrations:
Standout features of InsightSoftware include a build-a-bundle pricing structure for cost-effective subscription costs, equity management tools, tax and transfer pricing, and expedited closing for financial teams.
Integrations include Sage, Yardi, Oracle, NetSuite, and SAP.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Integrates with most ERP and EPM platforms
- Diverse feature set with the flexibility to only pay for desired features
- Excellent first-party scalability
Cons
- Onboarding can take time
- Some features require specialized knowledge or training to utilize
11. EPM Live - Best for collaboration via MS SharePoint
EPM Live is a portfolio project management tool built for use with Microsoft SharePoint. It’s collaboration-focused, and designed to help teams manage project costing and resource management tasks.
Why I picked EPM Live
While its feature set is more limited than full-fledged EPM platforms, I picked EPM Live because it's cost-effective and can be a helpful tool for teams that are already using Microsoft SharePoint.
EPM Live Standout Features and Integrations:
Standout features of EPM Live include advanced product management, project costing, and expense tracking. Again, EPM Live is designed to expand the functionality of SharePoint (it’s not recommended for standalone use).
Integrations are limited to Microsoft SharePoint only.
Pricing: Custom pricing available upon request.
Free Trial: Demo available
Pros
- Expands on Microsoft SharePoint functionality
- Simple to use for SharePoint users
- Budget-friendly
Cons
- Limited functionality
- Not a complete EPM solution for most firms
12. Infor D/EPM - Best for user-friendly modeling
Infor D/EPM (the “D” stands for “dynamic”) has all the basic features you’d expect from enterprise-grade EPM software, and the UI is surprisingly simplistic—which makes it easy for anyone to use. It’s not the most beautiful or adaptive design, however.
Why I picked Infor D/EPM
I selected Infor D/EPM because it’s easy to use, even for beginners (and because it has solid financial modeling capabilities).
Infor D/EPM Standout Features and Integrations:
Standout features of Infor D/EPM include workforce planning tools for HR and finance teams, plus capital expense planning and financial close and consolidation tools. It’s a simple, yet versatile tool with strong financial modeling, sales forecasting, and budgeting features.
Integrations include other Infor business solutions.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Easy to use
- Comprehensive feature set
- Solid capital expense planning tools
Cons
- Limited integrations
- Simplistic data visualization
Other EPM Software Options
Didn’t quite find what you were looking for? These options might fit the bill:
- Contruent (formerly ARES PRISM) - Best for construction and capital projects
- Planful - Best for rolling forecasts
- SAP Analytics Cloud - Best scalable EPM solution
- Axiom by Syntellis - Best finance-specific EPM platform
- Planview Enterprise One - Best for project portfolio management
Selection Criteria for Enterprise Performance Management Software
Here’s a brief summary of the primary selection and evaluation criteria I considered when developing my list of the best enterprise performance management software:
Core Functionality
At its core, EPM software should enable your organization to:
- Collect and manage data and metrics related to financial performance
- Plan, budget, and forecast future operations
- Prepare and analyze detailed financial reports and analytics
Key Features
Unique features set software solutions apart from the competition. Here are some key features I looked for in EPM software for this list:
- Data visualization: EPM software should allow you to view, manage, and analyze data in an intuitive way. All EPM solutions will provide data analysis tools, but I focused on tools that have exceptional data visualization capabilities.
- Predictive forecasting and budgeting: A core process of EPM is financial budgeting and forecasting. The best EPM platforms will have first-rate budgeting features—both enterprise-wide and on a departmental or project level—and solid forecasting and modeling tools.
- Closing and consolidation: EPM software should make your financial statement consolidation and month-end and year-end close processes more efficient. EPM systems are a vital part of both internal and external reporting.
- KPI monitoring: EPM solutions should allow for advanced key performance indicator (KPI) monitoring—both on an individual department or project level, and enterprise-wide.
Usability
Usability encompasses the user interface and user-friendliness of the software. EPM software can sometimes be complex to use, but tutorials are typically available.
Usability is particularly important if your enterprise has plans to utilize EPM software on a departmental level. Essentially, the more people that may be using the software, the more important user-friendliness becomes.
Integrations
EPM software should ideally fit in with your existing software stack.
Most ERP platforms need to pull data from accounting software, data management solutions, and HR platforms—so you’ll want to double-check to make sure that any of your existing tools or platforms in those areas will play nice with the EPM solution you’re considering.
People Also Ask
Below you’ll find answers to some common questions about EPM software.
What is the difference between EPM vs. ERP?
What are the basics of EPM?
What are the benefits of EPM software?
Summary
Selecting the right EPM software is an important decision, and companies should be sure to consider their existing software ecosystem when deciding which tools may be a good fit.
Ultimately, if the option you choose has the features and capabilities your team needs to succeed; whether that’s financial consolidation and closing features or KPI monitoring tools, you’ve made a great decision.
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