Four Pillars for a Successful Enterprise Performance Management (EPM) Implementation
The goal of an enterprise performance management solution is to enable leaders across functions to make better decisions by providing the necessary data, insights, and metrics. Based on our prior implementation experience with Oracle EPM, we found the following four pillars of a successful EPM implementation:
- Reimagine Connected Processes
- Foundation First
- Empowering Users for High Adoption
- Post Implementation Success
Reimagine Connected Processes
Before going into the design phase of a new implementation, it makes sense to take a pause and evaluate what worked well in the past and where the most significant opportunities for improvement can be found. We simply do not want to systemize faulty processes to see misaligned results later. We need to think ahead to ensure the integrated solution works on paper before it is implemented. In such cases, learning from prior implementations and leveraging industry best practices helps.
For some of our implementations, we started thinking about reporting first. Keeping the end goal in mind by focusing on what kinds of reports and insights you want to generate, helps to shape the final implementation. Rationalizing goals, simplifying your approach, and setting the right expectations goes a long way to design a successful EPM solution.
Foundation First
For an EPM application, there are some foundational elements which need to be set correctly right at the start, or there is a risk of having to rework the implementation. For instance, a dimension cannot be deleted once it is created, a module cannot be rolled back once it is initialized, the start year of an application cannot be changed later etc.
Hence, a strong foundation for the application needs to be set before executing development in parallel. The implementation team must think beyond EPM and consider the organization’s entire IT landscape – current applications, source data, and target systems, to build a seamless integrated solution. Proper checks and balances should be put in place to ensure data reliability and integrity.
Empowering Users for High Adoption
Users do not always adapt to new technology with a flip of a switch. An approach where users are eased into using a new solution helps them accept the system with less reluctance as they get enough time to condition their minds to the new norm. It takes way more than good software and a seamless solution for smooth user adoption. Users need to know the big picture, how their single data entry impacts the financial forecast and overall strategic plan.
They need to be involved earlier in the process for mid-way check points, rather than waiting until the tail end of the project to start user acceptance testing. The earlier in the process that you seek user feedback, the more time there is to bridge the gap between the users’ expectations and the solution that is deployed. When the time comes to flip the switch, that is to Go-Live, the users have already accepted the solution whole-heartedly.
Post Implementation Evolution
The real test of an implementation starts after the project goes live. Although the general expectation is that a solution will work flawlessly, participants should be aware that there may be some disruptions along the way so they should be prepared to handle them with the least possible disruption. A transition plan must be put in place, and user training and adoption should be completed in a phased approach rather than overloading users with a lot of information right at the end of the implementation project. This approach gives administrators enough time to get acquainted with the details of the new system.
A managed services team can help users to solve problems that may arise and deliver system enhancements when needed. New requirements are likely to emerge from time to time which can be addressed by this managed services team who not only know the technical side of the solution, but also the functional side of it. Post implementation automation ensures both users and support team devote more time to their core responsibilities. A support team who knows the system inside-out goes long way in ensuring that the implementation is a huge success.