Expanding Enterprise Performance Management across the company

Finance or Controlling in the lead with EPM

‘Regardless of the situation, finance or controlling will likely drive EPM,’ says Sophie Van Lier. ‘These teams deal with reporting on a daily basis. They know how to establish and oversee these processes.’

Maarten Lauwaert agrees but believes the role of finance in EPM is evolving. ‘Currently, finance often plays cavalier seul,’ he says. ‘They operate independently. They may not be the only party involved, but they typically take the lead. In business intelligence, IT often works alongside finance. That is not as common in EPM—yet. It will change. IT used to be a technical partner but is now increasingly the party that manages integrations. That will certainly be necessary with EPM, moving forward.’

ESG as a catalyst

The expansion of EPM into other departments has several causes, but one stands out: the increasing need to use data for faster, better insights. Whether it’s in HR, marketing, or supply chain, the demand for data and reporting is growing. Departments need insights not just to review past performance but also to predict future outcomes. ‘Every department can benefit from a clear reporting process,’ says Sophie Van Lier.

A key catalyst for this shift may be the mandatory sustainability reporting driven by CSRD regulations. ‘ESG managers could become the triggers for EPM adoption,’ says Maarten Lauwaert. ‘They’re gathering extensive data across the company and need structured processes and roles, automation, and the right tools to manage it effectively.

Speaking about ESG: it implies a new type of data —such as CO2 emissions or supplier-related data. Other areas, like HR metrics, are already tracked but are less frequently communicated across the company. With CSRD, there is now a requirement to report on social aspects (the "S" in ESG), meaning HR must be included and can no longer avoid reporting. The same applies to supply chain and many other departments. 

The evolving role of the Business Controller

EPM (Enterprise Performance Management) is destined to become a central tool for every department within a company. ‘To ensure the impact is as significant as possible, it is important to find someone who can act as a coach,’ Sophie Van Lier explains. ‘Given the history, finance or controlling is likely where people will look first.

‘In an ideal world, EPM becomes a joint effort,’ Maarten Lauwaert adds. ‘But there will always be someone that has to take the lead, and finance or controlling remains the best choice for that.’

This shift will inevitably change the role of the business controller. No longer solely focused on reporting, the controller's responsibilities will expand. ‘This presents a huge opportunity,’ says Sophie Van Lier. ‘The controller can broaden their scope, but it will require developing strong soft skills. More consultation will be required, and the type of data will evolve too. Business control will shift from a finance-centric role to a data-driven advisory position, making it a strategic partner to the business.’

Of course, the business controller cannot manage the entire process alone. Sophie Van Lier suggests setting up working groups that discuss adjustments to the software. ‘Different departments will have varying needs,’ she explains. ‘But in the end, you need one tool that can accommodate everyone’s requirements.’ These working groups provide a space for collaboration, allowing each department to voice its specific concerns while ensuring that the overall EPM solution remains cohesive and effective across the company.

Communication will undoubtedly be a crucial challenge. One that will not only effect finance or controlling. Whereas finance will have to evolve towards soft skills, many other departments will have to evolve in the opposite direction. Sophie Van Lier: “They will have to become more data-oriented.” 

The right EPM processes and tool

Effective communication will be a critical challenge as EPM expands beyond finance and controlling. While finance professionals will need to enhance their soft skills, other departments will need to evolve in the opposite direction, becoming more data-oriented.

Another key challenge is ensuring that reporting and forecasting processes run smoothly. Anyone who has set up collaborations across departments knows that this is no easy task. "The process should be about breaking down silos," adds Maarten Lauwaert. "It's important to appoint the right process owners and clearly define their tasks and roles."

Of course, selecting the right EPM tool is crucial for successful cross-departmental deployment. ‘A tool alone won't make it work, but without one, it’s much harder,’ says Maarten Lauwaert. ‘An EPM solution helps you to stay in control and helps you to make processes transparent.’

Both large corporations and SMEs can benefit from EPM tools. ‘In large companies, the complexity is much greater, which increases the need for an EPM system,’ Lauwaert explains. ‘For SMEs, there are usually few people who can focus on reporting. That's where a tool provides automation.

The right tool not only simplifies reporting but also allows businesses of any size to stay agile and informed, especially when dealing with increasing data complexity and strategic decision-making.

EPM software

Implementing EPM software, such as Vena Software or Tagetik Budget and Planning, demands careful consideration. When selecting a tool that will be utilized across multiple departments. The functional analysis involved is likely to be more complex, which can extend the duration of the EPM implementation.

Once the EPM system is operational, it will require ongoing attention and resources. Effective communication is essential at this stage. This way departments can learn from each other, the number of mistakes is lowered and knowledge sharing is central. Therefore, it is hardly surprising that Sophie Van Lier advocates the creation of a reporting team at this stage, with people doing similar jobs in different departments.

The future? The EPM department

EPM can create better collaboration within a company, acting as the cohesive element that binds all data. 

Sophie Van Lier and Maarten Lauwaert see even a possible next step: ‘Why couldn’t reporting become a separate department? A department that operates across other departments in a matrix structure, with each department contributing one or more specialists,’ they suggest in unison. 

‘For us, this completes the circle. EPM enhances the ability of the entire organization and its management to analyze numbers and reporting effectively. It enables informed decision-making. The EPM department can establish, improve, support, and monitor the process, and employees are uniquely qualified to help define and monitor the right KPIs.’ So, what are companies waiting for?