Enterprise Performance Management Consultants Providers Statistics 2024

In the rapidly evolving business landscape of 2024, understanding the metrics surrounding enterprise performance management (EPM) consultant providers has never been more critical. These statistics not only offer insight into the current state of the industry but also provide a benchmark for future growth and innovation. By analyzing the trends and data, businesses can gain a clearer picture of where the market is headed and how they can best position themselves for success.

Key stakeholders, including C-suite executives, financial planners, and business analysts, will find this data particularly valuable. For these professionals, understanding the nuances of EPM consultants’ impact on efficiency, profitability, and strategic alignment is essential. This information not only informs their internal decision-making processes but also shapes industry standards and best practices, ultimately influencing the broader market dynamics.

Armed with these insights, decision-makers can craft more informed strategies and make data-driven choices that align with their organizational goals. In a field where agility and precision are paramount, the ability to leverage comprehensive and up-to-date statistics on EPM consultant providers is a powerful tool. This article aims to illuminate these crucial trends, offering a roadmap for navigating the complexities of the modern business environment.

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Top Enterprise Performance Management Consultants Providers Statistics 2024

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Company Profiles

• HMS Software has been providing project management and enterprise timesheet systems since 1984. ^[25]
• HMS Software launched TimeControl as a commercial application in 1994 to service clients worldwide. ^[1]
• IBM, SAP, and Oracle control about 70% of the EPM market. ^[4]
• Infor and SAS account for 10% of the EPM market. ^[4]
• There are nearly 20 mainstream EPM vendors currently. ^[4]
• Adaptive Insights was founded in 2003 as Adaptive Planning and offers cloud-only EPM solutions. ^[4]
• Anaplan, a cloud EPM vendor, began as a sales and operational planning solutions provider and added financial planning and consolidation in 2013. ^[4]
• Longview Solutions has been in the EPM market since 1994. ^[4]
• Oracle ranked highest in Gartner’s April 2015 magic quadrant for EPM vendors. ^[4]
• Prevero provides integrated EPM and self-service business intelligence tools to more than 4,000 customers. ^[4]
• Prophix targets Microsoft Excel and Sharepoint users, with over 2,600 customers. ^[4]
• The EPM Digital World Class Matrix research by The Hackett Group shows 94% of companies are satisfied with their EPM deployments. ^[12]
• US-Analytics has served as an Oracle EPM consulting firm for over 20 years, helping 1,000+ organizations. ^[13]

Market Analysis

• The global Enterprise Performance Management (EPM) Consultants Market size was estimated to grow at a CAGR of 6.9% from 2022-2030. ^[6]
• The EPM market is expected to grow at a CAGR of 7% to reach $8.3 billion by 2027.[11] ^[17]
• North America was the largest region in the EPM market in 2023. ^[16]
• The EPM market is expected to grow at a CAGR of 8.5% from 2024 to 2030. ^[23]
• The global performance management systems market size was USD 4649.7 Million in 2021, projected to reach USD 8706.97 Million by 2031, with a CAGR of 6.4%. ^[8]
• Public cloud deployments in the EPM applications market grew by 26.5%, while other deployment options declined by 7.6% in 2022. ^[20]
• The solution segment held the largest revenue share of 62.5% in 2023. ^[23]

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Services And Solutions

• HMS announced a new consulting package for organizations implementing Microsoft Project Server. ^[1]
• IBM, SAP, and Oracle collectively control a significant portion of the EPM market, offering a wide range of EPM solutions. ^[4]
• Adaptive Insights integrated MyDials business intelligence tools as Adaptive Discovery in 2012. ^[4]
• Software and service for an EPM system at a high-end midmarket company, with 60 users, may cost between $200,000 and $400,000. ^[4]
• The annual renewal fee for EPM software is typically 20% of the initial software cost, including updates and support. ^[4]
• Many organizations are adopting technologies to enhance performance management processes, with 42% of leaders believing technology will play a bigger role by 2027. ^[5]
• In 2020, Harper College deployed an EPM cloud application to integrate its HR and finance departments. ^[22]

Trends And Innovations

• Gen AI can increase staff productivity by 44%. ^[2]
• 77% of employees look to managers to support their development. ^[5]
• More than 50% of managers have more responsibilities than they can manage. ^[5]
• Data visualization allows EPM teams to make insights engaging and digestible, enabling better and faster decision-making. ^[3]
• 80% of EPM system buyers still use spreadsheets to supplement their systems. ^[4]
• 52% of HR leaders don’t believe they currently reward the right employee behavior. ^[5]
• 65% of employees want more feedback. ^[9]
• Organizations are increasingly investing in wellbeing technologies to support their employees. ^[5]
• 82% of employees feel it’s essential for their organization to see them as a person, not just an employee.[5] ^[14]
• The pandemic has accelerated the adoption of EPM software, with more reliance on digital tools for remote work and decision-making. ^[15]
• The OKR methodology is becoming more popular for performance management. ^[9]
• Companies like Netflix use the 360-degree feedback model for performance reviews. ^[24]
• The use of AI and machine learning for predictive forecasting and scenario modeling is increasing. ^[22]

Financials And Investments

• The EPM market revenue for 2018-2021 and 2022-2030 is measured in USD Millions, showing significant growth. ^[6]
• Software and services for a high-end midmarket EPM system may cost between $200,000 and $400,000, with annual renewal fees typically at 20% of the initial software cost. ^[4]
• The EPM market is projected to touch USD 13388.5 Million by 2032, with a CAGR of 5.7%. ^[15]
• Allied Market Research projected the EPM market to reach $13 billion by 2025, growing at a CAGR of 12% from 2018 to 2025. ^[19]
• The global enterprise performance management market size was estimated at USD 6.37 billion in 2023. ^[23]

Regional Insights

• The EPM market in North America was the largest in 2023. ^[16]
• The US dominated the North American market with a revenue share of 79.7% in 2023. ^[23]
• The EPM market in Germany held a considerable revenue share in 2023 due to cost reduction optimization and collaboration. ^[23]
• The Japanese government promotes digital transformation through Society 5.0 and Digital Japan strategies. ^[23]
• Saudi Arabia’s Vision 2030 initiative aims to diversify the economy, impacting the EPM market. ^[23]

Customer Insights

• The EPM Digital World Class Matrix research shows 94% of companies are satisfied with their EPM deployments. ^[12]
• 82% of employees want their organization to see them as people, not just workers. ^[10]
• More than half of HR leaders say traditional performance management approaches aren’t an efficient use of their time. ^[18]
• 83% of companies plan to make their goals personal as well as professional in the future. ^[18]
• 84% of employees report being more engaged at work when they receive meaningful feedback weekly. ^[21]

Technical And Operational Insights

• IBM Planning Analytics will include a new statistical details page for more transparent forecasting predictions. ^[22]
• Oracle EPM Automate’s new version includes several new commands for improved functionality. ^[23]
• The use of cloud-based EPM solutions supports business functions and reduces operational costs. ^[22]
• The EPM market focuses on improving operational efficiency and simplifying planning, forecasting, and budgeting workflows. ^[22]
• The increase in adoption of cloud-based EPM software supports business functions and mobility. ^[22]

Competitive Insights

• The 2024 EPM Market Study includes a comprehensive ranking of 16 vendors using four different models. ^[25]
• The Hackett Group’s research evaluated EPM software on 28 key scoring criteria. ^[12]
• Dresner’s Wisdom of Crowds series provides a broad assessment of the EPM market, including user behaviors, attitudes, and intentions.[7] ^[25]
• Oracle, SAP, and IBM are the leading vendors in the EPM market. ^[4]

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