Financial planning and analysis (FP&A) is central to the strategy of many modern companies. In an ever-changing economic environment, the ability to forecast, plan and adapt quickly is essential to ensure informed decision-making. Today, Enterprise Performance Management (EPM) solutions play a vital role in process transformation, simplifying data management, automating critical tasks and providing real-time strategic insight. In this article, we explore why these solutions have become essential for optimizing FP&A, and how they are transforming financial planning.
What is an EPM solution and why is it essential for FP&A ?
An EPM (Enterprise Performance Management) solution is a platform designed to manage, analyze and optimize a company’s financial and operational performance. These tools centralize key FP&A processes, such as
Budget planning
Preparation of budgets and forecasts based on consolidated data.
Financial consolidation
Automate closing processes and produce reliable reports.
Advanced analysis
Create “what-if” scenarios to assess the impact of strategic decisions.
Regulatory reporting
Simplify compliance with standards (IFRS, CSRD, etc.).
The challenges of traditional FP&A
Despite the strategic importance of FP&A, many companies continue to face significant challenges related to outdated and inefficient processes. Here are the main problems encountered:
Over-reliance on Excel
Manual spreadsheets are prone to errors, resulting in inaccurate financial forecasts.
Data silos
Financial and operational data are often scattered across different systems (ERP, CRM, etc.), making consolidation difficult.
Lack of agility
Lack of modern tools slows down planning processes, making it difficult to adapt to rapid market changes.
Increasing compliance complexity
New regulations, such as the CSRD and IFRS, are multiplying reporting and transparency requirements.
Benefits of EPM Solutions for FP&A
Data centralization and automation
EPM solutions centralize all financial and operational data within a single environment, guaranteeing a “single source of truth”. By automating processes, this centralization considerably reduces errors. It also offers substantial time savings during consolidation and reporting operations. By facilitating access to real-time visibility, these tools accelerate decision-making and improve operational efficiency.
Forecast accuracy and reliability
EPM tools, with their advanced predictive analysis and “what-if” scenario capabilities, enhance the accuracy of financial forecasts. These features enable companies to anticipate market fluctuations and optimize their budgets, taking into account both constraints and opportunities. They also facilitate the evaluation of different strategic scenarios through “what-if” analyses, contributing to better planning and more informed decision-making.
Adaptability and agility
A modern EPM offers the flexibility needed to quickly adjust financial plans according to the data available in real time. This adaptability is crucial in volatile economic environments, where companies must constantly revise their budgets and forecasts to remain competitive and responsive to market changes.
Simplified compliance and reporting
In the face of new regulatory requirements, EPM solutions simplify compliance reporting by automating data collection and validation processes. They ensure that reporting complies with current standards, while guaranteeing the reliability and integrity of financial information. This automation enables finance teams to concentrate on higher value-added tasks, while meeting compliance requirements with peace of mind.
Examples of EPM Solutions for FP&A
OneStream : A Unified Platform
OneStream is a new-generation EPM solution that centralizes planning, consolidation and reporting within a single tool. It stands out for its complete integration of financial and operational data, providing a global and coherent view of the company. Its advanced predictive analysis capabilities enable you to anticipate trends and make informed decisions. Its exceptional flexibility makes it easy to adapt to the specific needs of each organization, ensuring an optimal response to business challenges.
CCH Tagetik : a benchmark for compliance
CCH Tagetik is the ideal solution for companies faced with stringent regulatory requirements. It offers IFRS and CSRD-compliant reporting tools, facilitating regulatory compliance. The platform also simplifies planning and closing processes, improving the efficiency of finance teams. Its intuitive user interface ensures a fast learning curve and a smooth user experience, making financial operations more accessible and efficient.
The Role of BHI Consulting in FP&A Optimization
BHI Consulting supports companies in their FP&A transformation by integrating EPM solutions tailored to their needs. Here’s why you should choose BHI:
Recognized expertise
Over 200 successful ERP and EPM projects.
Personalized support
From needs audit to application maintenance (TMA).
Mastery of leading tools
Expertise in platforms such as OneStream and CCH Tagetik.
Results-oriented approach
Rapid implementation and measurable ROI.
Tangible results
By adopting a modern EPM solution for your FP&A processes, you can expect :
- Reduce planning and reporting times by 30-50%.
- More accurate financial forecasts.
- Improved collaboration between financial and operational teams.
- Improved compliance with regulatory standards.
Conclusion
The transformation of FP&A processes is crucial today for any company wishing to remain competitive. Modern EPM solutions, such as those integrated by our firm, can simplify financial planning, improve decision-making and ensure compliance.
For an in-depth analysis of which solutions are right for your business, take a look at our detailed presentations of OneStream and CCH Tagetik.
Ready to transform your FP&A ? Contact us today to find out how our EPM solutions can meet your needs.
