Enterprise performance management (EPM) systems integrate and analyse data to provide decision makers with business-critical insights. They incorporate data from the various data sources, enabling the organisation’s leaders and employees to evaluate a range of metrics, such as sales, stock turnover, and payroll expense while working from one reliable, timely source of truth. 

By leveraging EPM solutions, organisations can efficiently monitor performance, collaborate across functions, and direct their operations to align with strategy. They can make better-informed, data-driven decisions that streamline operations and drive profitability.

EPM systems can become the backbone of data-led decision making for the business, and put the finance function at the centre of these efforts. Perhaps not surprisingly, the global market for EPM solutions is estimated to surge to USD 10.1 billion in 2030, up from USD 5.8 billion in 2021 – a compound annual growth rate of 6.5%.

Identifying Talent: Characteristics of Top EPM Professionals

To capture the benefits EPM solutions can provide, organisations need skilled professionals. They can come from a range of backgrounds—from Accounting to Sales, and from Technology to Operations – but what unites those who succeed is a certain set of characteristics:

• A data-first mindset: Whatever their background, above all else an EPM professional needs to be a data expert. People with this core skill can derive actionable insights from vast amounts of information, identify trends, and predict future scenarios more accurately. Beyond understanding the data, they need to be able to structure it in a way that makes it accessible. This will enable them to design EPM dashboards that are intuitive for team members who may lack their data expertise.

• Technical skills to extract, transform and load: Microsoft SQL remains the most prevalent language for data management. “A good EPM consultant has a very strong SQL knowledge because that allows you to interrogate the data,” says Paul Atkinson, Solution Architect at Cygnus. “If you can’t interrogate you can’t ETL – extract, transform, and load – from one of the disparate systems that sit under the EPM into to the EPM itself.”

• Clarity of thought: Sitting at the confluence of multiple systems, processes and data sources, EPM professionals need to be able to be objective and discerning in the face of complexity. This is the ability to see “the forest for the trees,” Atkinson says. “You’ve got to be able to clarify a narrative from the massive data bank of transactions, journals, payments, purchase ledger invoices, sales ledger invoices, and other information.” 

• Communication and storytelling: One critical soft skill is the ability to effectively convey information and build a narrative. “You can be the best analyst in the world, but if you can’t convey the information that you’ve extracted or actionable insight, then what’s the point?” says Paul Atkinson.

• Confidence: “Good consultants need confidence,” Paul Atkinson. “You do have to be able to stand up and say no, I’m right.” This comes with experience, but also comes more naturally to some than others. Along with confidence, the art of knowing when and when not to compromise is also essential. “Businesses require some flexibility. Successful technology leaders know when to bend and when to make their case.

Creating An Environment in Which EPM Talent Can Thrive

Career development and advancement potential are as important as compensation in influencing job-related decisions for workers in the digital space. Your talent strategy should include certain steps to ensure your employees are working in an environment that enables them to reach their potential:

For a more detailed exploration of how talent can unlock the ROI of finance systems beyond EPM alone, and how these systems can be used to extract the full potential from your human capital, read our playbook, Maximising the Value of Finance Systems.

• Empower the team to be analysts

Finance teams don’t want their time devoted to generating and checking data. Nor do they want to be grappling with ill-suited technology to try to produce the results they want. A well-implemented and managed EPM system frees them from these “This is what excites finance professionals,” says Paul Atkinson. “Not compiling data but structuring and generating insights from it, insights that then positively impact the business.”

• Hire in line with a clear technology strategy

A company’s hiring approach should align with a clear technology strategy and vision. Based on the strategic objectives, determine the technical skills, software knowledge, and industry experience required. For an EPM implementation, this often includes expertise in specific EPM tools, data analysis proficiency, understanding of financial modelling, and knowledge of compliance and regulatory requirements. 

Because the EPM absorbs data from many different systems, the team working with it needs to be skilled at integrating systems, configuring data, and creating intuitive dashboards. For team members to do this effectively, the organisation needs a clear vision. “Begin with the end in mind,” says Paul Atkinson. “A clear vision is essential when implementing an EPM system if it’s going to meet the business’s needs, and people are an important part of that.”

• Encourage cross-functional impact:

When EPM teams collaborate cross-functionally, they bring a rigorous, data-driven approach to the decision-making process. This enables more accurate forecasting, better budget allocation, and smarter investment strategies. For example, their analytical skills could help marketing departments optimise campaign budgets and measure ROI more effectively, or aid operations in cost analysis and efficiency improvements.

• Training should be ongoing: 

Indeed, ongoing, continuous learning and upskilling are important to many candidates. As EPM tools become increasingly cloud-based, their implementation and maintenance tends to be more straightforward. This affords employees more opportunities to learn – keeping their skills up to date and boosting their careers.

EPM systems also handle more than financial data alone, meaning the data experts in the EPM team will need the adaptability to interact with functions outside finance. This may require training, or the acquisition of new expertise in the form of new hires.

• Prepare for future trends: 

As organisations deploy EPM, they’ll benefit by remaining abreast of the systems’ continuing evolution. “The newest generation of EPM isn’t retrofitted for the cloud; it’s built for the cloud from the ground up,” Atkinson says. In addition to generally streamlined implementation and fewer maintenance requirements, cloud-based EPM solutions offer greater flexibility, he adds.

For approximately the next decade, Microsoft Power BI appears poised to remain the dominant data visualisation tool, Atkinson predicts. “We’re going to see tighter integration (between EPM) and the Power BI stack,” he adds. Going forward, many EPM solutions also will have artificial intelligence (AI) or the ability to use AI bolted in from the start. These systems will be able to offer greater insight with more efficiency.

A Foundation to a Data-First Organisation

Enterprise performance management solutions can form a strong foundation to a data-first organisation, enabling leaders and employees to leverage insight to boost performance. To capture EPM’s full potential, the right people are key. Leaders and employees need strong soft and technical skills, including a data-first mentality. They also need to work with agility and embrace change as they leverage the EPM solution and work toward the organisation’s strategic goals. 

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