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Enterprise Performance Management (EPM) solutions enable you to align business strategy with business execution and is supporting the achievement of company goals along the management cycle:
- Strategy operationalisation by aligning group, divisional and functional strategies and by developing targets for the annual plan based on value drivers
- Annual (budget) plan development and target validation
- Smart financial close and consolidation
- Enterprise performance reporting providing comprehensive management reporting and decision analytics to steer the business
EPM brings insights from data generated multiple sources across the organisation. By visualising the right data, you can quickly glean the right insights (KPIs), define actions to increase profitability or respond with resilience to unexpected change and disruption.
Our services
Business strategy operationalisation linked to execution
We help you operationalise your business strategy underpinned by a solid management reporting and a well-defined and robust data model connecting key systems.
Examples of common challenges
- Inconsistent level of detail across business units
- Disparate systems and COA
- Heavy reliance on manual spreadsheets
Top three leading practices
- Defined data inputs and cleansing methods which provide standard information
- Enterprise-wide COA
- Integration across technology tools which minimises manual effort, reconciliations and process delays
An example to bring this to life
Client
Swiss based multinational insurance company
Situation
As an enabler for further finance topics in the future, e.g. real time reporting, fast close, flexible KPIs, unifying the data layer was key. The objective therefore was to create a standardised, simplified and harmonized Group Finance data model using the Group Chart of Accounts as the backbone.
Impact
A common data layer laid the foundation to service all future business needs in a cost efficient and scalable way.
Planning, budgeting and forecasting
We help you simplify and align your planning process, reducing the work involved and giving you a more accurate understanding of your goals for the upcoming planning cycle.
Examples of common challenges
- Lack of standardisation processes
- Multiple Excel-based solutions
- Limited focus
Top three leading practices
- Harmonised centralised and integrated process
- Extended focus with fully integrated simulation capabilities
- Connected with strategy and operations
An example to bring this to life
Client
Global manufacturer and wholesaler in the food industry
Situation
The client wanted to design and implement a centralized BPF concept to increase transparency and performance visibility. This would allow for a harmonized way of working and increased PL accountability.
Impact
Simplification and alignment of the planning process leading to ca. 40% effort savings compared to the manual approach. The BPF was aligned to strategy and was reflected in the flexible management reporting.
Consolidation and financial close
We help you speed up reporting to your shareholders by making your financial close smarter, faster and more accurate – ultimately building more confidence in the market.
Examples of common challenges
- Time-consuming legal and regulatory compliance
- Complex ownership structures
- Inaccurate source data quality
Top three leading practices
- Integrated disclosure for every regulatory body
- Dynamic management of the ownership structure
- Harmonised data interfaces
An example to bring this to life
Client
Swiss based multinational pharmaceutical
Situation
The company required to de-risk their current consolidation process, reduce effort and complexity and to leverage the latest technology for the group to bring efficiencies.
Impact
We delivered a solution that brought minimal disruption to the business and implemented a state-of-the-art consolidation tool, further enhanced with regulatory and management reporting which embraced also the planning implementation.
Performance analytics
We help you set up performance analytics to give you forward-looking insights improving your ability to make decisions in real time - ultimately enabling you to achieve your goals more easily.
Examples of common challenges
- Incomplete understanding of the overall analytics strategy and related activities
- Inability to obtain an enterprise-wide view of KPIs
- Very time consuming to gather and merge data to build reports
Top three leading practices
- Value assessment – Analysis of requirements and conception of possibilities for use and potential benefits of analytics
- Leverage the industry’s leading business analytics platform to address your unique needs
- Implementing customer-specific KPIs and requirements based on standard content
An example to bring this to life
Client
Swiss-based multinational insurance company
Situation
The new IFRS 17 standard attracted increased scrutiny of the results. Functionality was required to enable projection of the current quarter and forecast for next period, in addition to the need for faster and more detailed analysis of KPIs.
Impact
We utilized the client’s existing IT landscape and built the reporting functionality by integrating additional data flows directly into SAP BW as required.
Your benefits
Right steering model
A comprehensive view of your entire business actual and future performance, visualisations of the data that matters to the right audience to take appropriate actions.
Right planning approach
An improved planning cycle helps you develop greater foresight and make better, more informed decisions.
Smart financial close
With less time and effort required for the financial close process and improved and automated financial processes, you reach a new level of financial closing and can focus on your main business.
Better predictions
Predictive analytics and real-time performance management enable you to predict future outcomes across a wide range of business cases and scenario.
What action should I take today?
Assess the current role of your finance function and the value it adds to the business
Does finance provide actionable and forward-looking insights enabling it to partner with and steer the business strategically? How do you compare with your peers in terms of speed of reporting internally and externally?
Challenge the current operating model
What are the current challenges in your processes? Is it still fit for purpose? Are you getting the right insights to drive your business? Understand the challenges from the users’ perspective and be objective in understanding them.
Understand the new technological developments
As technology continues to move at speed, do you have a good overview and understanding of the tools available in the market? How can you leverage these to ensure the business is well supported? Do you have the right talent to support the business of the future?
Enterprise performance management is a win-win-win: better decisions, a smarter and more efficient financial close, and more accurate predictions of where your business is headed.
Frequently asked questions
What are the benefits of cloud-based EPM?
Enterprise performance management in the cloud gives you larger data storage capabilities, stronger data security and easier integration with both financial and operational applications across the business.
What are the benefits of an EPM solution?
An EPM solution provides you with forward-looking, integrated data supporting your business strategy and gives you access to real-time data enabling you to make efficient and profitable decisions. It improves your compliance with regulatory changes in both financial and tax reporting. It makes your financial close procedures faster and less time-consuming, as well as automating workflows to eliminate delays and minimise the risks around global account reconciliation. It’s easy to use, with intuitive dashboards delivering key performance insights, giving you a more comprehensive view of business based on connecting processes and data. Last but not least, an EPM solution eliminates the need for time-consuming and error-prone analysis based on spreadsheet solutions.
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Contact us
https://pages.pwc.ch/core-contact-page?form_id=7014L000000PyeFQAS&lang=en&embed=true
Contact us
Partner, Finance & Technology Consulting, PwC Switzerland
Tel: +41 58 792 69 18
