Accessing the right data at the right time to inform strategic decision making is one of the biggest challenges that many organisations face today. Consolidated, well organised data that provides perspective across an entire organisation can provide actionable insights that make a real difference to performance. But how do you access it? The answer lies in Infor Dynamic Enterprise Performance Management (Infor d/EPM).
The benefits of Infor d/EPM
Infor d/EPM provides a smart solution to the issues that data can present for enterprises today. It is an analytics platform that centralises data from multiple sources and makes it easy to view and use via functions such as reporting. Using Infor d/EPM can have a number of very important benefits for businesses, large or small.
- Reducing dependency on spreadsheets. Most organisations have something of a love hate relationship with Excel spreadsheets. As a way of organising data they are very limited in their capacity to provide insights and come with a high risk of human error. Infor d/EPM transfers data from local spreadsheets to one single, centralised storage space, making it much more accessible and secure. Automatic consolidation avoids the need for manual rekeying and updates, saving time and improving accuracy.
- Risk management and compliance. The transparency that is provided by Infor d/EPM helps to ensure that compliance targets are met and means that any issues or anomalies can be quickly detected and dealt with.
- Customised analytics and reports are more effective. Data analytics and reporting often requires the input of the IT team in order to compile the required information into the necessary report. However, an Infor d/EPM system puts this function directly in the hands of those who need to use that information and offers a range of ways to customise dashboards and report structures to ensure that they are appropriate to need. For example, dashboards can be tailored to individual areas of the business or to industry.
- Instant access to essential insights. Data viewed via Infor d/EPM is accessed in real time, avoiding the mistakes and inaccuracies that can arise from data that is out of date. It provides a single perspective that shows how a business is performing at a specific moment in time across the entire enterprise.
- Upgrading options for financial planning and forecasting. From budgeting and planning to creating accurate and detailed forecasts, Infor d/EPM is a faster and much more accurate option than relying on spreadsheets. Data is centrally available and does not need to be collected from across the organisation. The platform has a range of supportive tools, facilitating predictive modelling and providing simple solutions to developing sales plans and specific budgets, whether for the entire organisation or specific sections within it. Quality of business planning and forecasting can be improved and modelling becomes more robust.
The importance of data to planning and development should not be underestimated today. The only real way to harness its potential is to invest in an Infor d/EPM platform that provides the right tools for the job.