How To Become Better With Enterprise Performance Management Application Market In 10 Minutes.

Enterprise performance management application is used to plan, analyze, and understand the financial planning of enterprises and link it to their business strategies. Enterprise performance management application facilitates the management and performance evaluation for enterprises, which helps them in implementing business strategies and achieving its objectives.

The successful adoption of AI-based enterprise performance management solution can improve fraud detection and productivity and automate forecast predictions. It allows a better understanding of the companies’ risk factors, financial position, and enhanced decision making. For instance, in July 2018, Unit4 launched Unit4 Prevero Corporate Performance Management (CPM), integrated with AI, for advanced data driven financial forecasting. Prevero, with AI, applies neural networks and deep learning technology on available data to improve the decision-making process, identify patterns and non-linear trends of financial outcomes.

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The use of AI-based enterprise performance management solution results in accurate forecasting, improved financial planning, and efficient risk handling of enterprises’ financial planning. Such benefits of AI-based enterprise performance management applications are expected to drive the growth of the global enterprise performance management application market at a CAGR of 8.93% during the forecast period.

The integration of RPA in enterprise performance management is one of the major EPM market trends influencing growth. The integration of RPA in the enterprise’s performance management processes eliminates manual steps and automates all tasks based on the procedural steps. This will enable employees to focus more on core operations. The integration of RPA with EPM software also provides other benefits such as increased ROI, reduced IT costs, enhanced customer service, etc. Such advantages are driving organizations to adopt RPA-enabled enterprise performance management applications to automate their financial planning and report generation. As a result of these factors, the global EPM market will register a CAGR of nearly 9% during 2019-2023.

The global market is fragmented. To help clients improve their market positions, this enterprise performance management application market forecast report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This enterprise performance management application market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

The BFSI segment held the largest market share in 2018. It will account for the highest enterprise performance management market share over the forecast period. Companies in the BFSI sector are adopting EPM applications to streamline their financial planning and budgeting processes in line with their business strategies and plans. The increasing adoption of EPM applications by the BFSI sector will influence the growth of the enterprise performance management market size over the forecast period. This report provides an accurate prediction of the contribution of all the segments to the EPM market growth.

With a complete study of the growth opportunities for companies, it has been identified that North America will account for the highest share of the EPM market throughout the forecast period. Market vendors operating in the region are integrating emerging technologies such as blockchain, AI, and data analytics in their existing offerings. Vendors in the region are also leveraging such technologies to offer in-built application programming interfaces (APIs) and generate additional revenues through product upgrades and maintenance fees. These factors are fueling EPM market growth in North America.

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