APPS RUN THE WORLD’s latest survey of 205 organizations and their use of different Enterprise Performance Management(EPM) systems finds that companies especially those that are marrying EPM with artificial intelligence and machine learning are experiencing faster time to insight, a significant productivity increase while achieving a new level of enterprise-wide collaboration that used to be inconsistent at best.
Make sure to access our comprehensive survey report that unravels the dynamic transformation of electrifying Enterprise Performance Management fueled by machine learning automation.
Machine Learning Adoption Ignites Financial Planning Reimagination
- Spreadsheets to Dashboards: Companies globally are abandoning traditional spreadsheets for AI-assisted financial planning and personalized dashboards.
- Current Usage: 36% of surveyed companies extensively use Machine Learning for enterprise planning.
- Future Trends: Another 34% are considering ML adoption in the next 12-24 months.
- Considerable Impact: 61% believe Machine Learning will lead to a fundamental shift in the planning process of their organization.
Productivity and Efficiency:
- Increased Productivity: ML-enabled planning accelerates enterprise productivity ranging from 10% to a remarkable 10-fold jump in certain use cases.
- Top Benefits: 78% cites enhanced forecast accuracy and transparency as the top benefits of ML-enabled planning.
- Marrying EPM with AI and ML could shore up trust in finance, paving way to greater corporate-wide collaboration.
- EPM automation, coupled with machine learning, is establishing quantifiable benefits in productivity, accuracy, and business transformation.
- Tangible improvements and efficiency gains across diverse industries are highlighted by real-world case studies.
- Applying AI and ML to EPM not just for the sake of finance, but also resetting corporate goals to sustain long-term growth.
Documented Success Stories
- Groupe Pochet: Shortens budget cycles by half with a new EPM solution.
- Hairhouse Warehouse: Empowers finance teams to influence business decisions with Workday Adaptive Planning.
- Altrad: Saves close to a full day per month on reporting by standardizing EPM systems for 100 subsidiaries.
- Ancestry: Realizes instant changes to applications that used to take hours, thanks to real-time data from EPM and AI systems.
- Autoliv: Operational Insight: Detailed and granular forecasts at a daily level for improved operational reporting.
- Denny’s: Expands annual planning and quarterly forecasts to a monthly schedule for quicker responses to market changes.
- Adventist Health: Halves budgeting cycle and improved inventory management.
- American Tire Distributors: Ditches spreadsheets, saves time with ML software for financial reporting models.
- Apex Hotels: 50% reduction in routine FP&A tasks with ML-supported EPM.
- Lyft: Expects to cut the time for full financial close in half through integrated ERP and EPM systems.
- Mitsui Chemicals Europe: Achieves up to 95% accuracy increase in forecasts for several product groups.
- Safelite: Automates collaborative planning process, cutting budget cycles by 40%.
- Telstra: Transforms HR, financial, and operational data to drive $2.7 billion in projected cost reduction.
Immediate Access To Full Survey and Key Takeaways
Download the complete survey report, including insights into the key reasons driving adoption and the biggest challenges in incorporating EPM powered by ML.
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