I’ve worked in EPM for over 25 years (and yes, I don’t like admitting that number either. I’m not old, you are!) and can tell you, there’s reason to be concerned. Even in an apparently stable economy, things can change quickly. Unemployment may be low now, but as any financial expert will tell you, it won’t always stay low. As the saying goes, what goes up must come down.
What worries me are those companies that rely on a hybrid of systems to get to the bullet level reports. Those that use numerous spreadsheets, Excel after Excel, just to get to some level of detail that the masses deem appropriate. These disconnected systems slow organizations down and that means, CFOs and finance leaders won’t get the data they need when they need it. As a leader, you don’t have all the information you need to make strategic decisions and move your business in the right direction.
When things go awry, businesses can’t afford to waste time compiling the results. Top finance leaders expect a lot more from CPM vendors and technology than they have before. They need everyone speaking the same language and looking at the same data set. They need a flexible system. They need reporting to be more efficient.
There is no substitute for the value of having one application that can grow with your organization.
What if another crash happens? While personally you may have learned your lessons and can weather the storm, do you think your organization can pivot and survive? What if there is a new market entrance and it disrupts your organization? Are you able to look ahead and innovate to the market’s demands?
There’s a reason OneStream’s slogan is “Get Back to Business” as the technology allows us (and our clients) to work faster, be more organized, and continue to track towards our goals and most importantly, weather the storm.
View our new whitepaper by clicking the whitepaper below.