The process of measuring, monitoring, and optimizing business performance using data from multiple systems and presenting the results using key performance indicators (KPIs), reports, dashboards, and scorecards. The balanced scorecard is an example of an EPM solution.
First, we need to clarify some terminology and related confusion. EPM is not solely a system or a process. It is instead the integration of multiple managerial methods – and most of them have been around for decades arguably even before there were computers. EPM is also not just a CFO initiative with a bunch of scorecard and dashboard dials. It is much broader. Its purpose is not about monitoring the dials but rather moving the dials.