EPM Horror Show? 5 Steps to Reanimating Your Implementation

Revive Your EPM Implementation

It's Alive! It's Alive!

Or is it? Much like Dr. Frankenstein’s most notorious work, your Enterprise Performance Management (EPM) system might have all the right parts but still not be functioning as it should. Instead of a well-oiled machine, you might be dealing with a clunky, disjointed monster, wreaking havoc on your daily operations.

If your application is starting to seem like a bit of a monster, there’s no need to abandon hope. Like Dr. Frankenstein stitching together his masterpiece, you can reanimate your EPM system and breathe new life into it. With the right tools and strategies, you can transform your system from scary to a reliable asset that powers your business forward.

In this guide, we’ll walk you through five steps to revive your EPM application and turn it from a horror show into a smoothly functioning system.

Step 1: Recognize the Symptoms of a Failed EPM Experiment

Spot the Monster in Your System

Before you can fix your EPM system, you need to diagnose the problems. It's vital to recognize when your EPM system is failing to perform. The signs may not be as dramatic as lightning bolts, but they’re still clear indicators that something’s gone wrong in the lab.

How do you know if your application is turning into a monster?

Sluggish Performance: Is your system moving as slowly as a creature dragging its feet? If reports that once ran quickly are now creepily crawling along, your EPM system might be faltering.

Data Discrepancies: Are you seeing conflicting numbers across different reports? Like mismatched body parts, misaligned data means your system’s data integrations aren’t working as they should.

Overcomplicated Workflows: Are your workflows turning into a confusing mess? If your team is tangled in unnecessary steps, it's a sign your application could use a tune-up.

Rising Maintenance Costs: Are you spending more time and money keeping the system running? If maintaining the system is costing more than it should, it’s clear the application isn’t sustainable.

Low User Adoption: Are your users avoiding the system like Dr. Frankenstein ran from his monster? If your team finds it hard to use, they might be avoiding it altogether. That’s a sign your application is more scary than it is helpful.

Step 2: Perform a Health Check on Your EPM System

Dissect the Monster to Find the Problem

You’ll need to dissect your EPM application to diagnose the root causes of what's not working. A health check is a crucial step in reanimating a struggling system because it helps identify what’s wrong, what’s working, and where to focus your energy.

Looking for help performing an application health check? CFO Solutions staffs individuals with experience in IT, accounting, and with over one dozen business intelligence tools, and is uniquely positioned to provide a thorough assessment of your application. Read more about our health check methodology here, and let's talk about how we can breathe new life into your EPM system.

Examine your EPM System's Architecture

A good health check starts with examining the architecture of your system. This includes evaluating the data models, hierarchies, and formulas that form the backbone of your EPM application. Dr. Frankenstein could have benefited from using a health check before unleashing his monster on the world - just as this poor assembly led to chaos, poorly constructed systems can result in inefficiencies and functional breakdowns. 

You’ll want to ensure that these foundational components were designed correctly and are not overcomplicated or redundant. If they are, simplifying them can go a long way toward improving system performance.

Next, Inspect Your Data Integrations

Next, take a close look at the data integrations.  Your EPM system requires good connections between its different data sources and outputs. Should these integrations be disrupted or malfunctioning, they can cause data inconsistencies that will plague your system. Make sure data flows seamlessly from one system to another, without any broken or misaligned connections, similar to how Frankenstein's creature needed all its parts properly connected.

Streamlining EPM Workflows

Once the architecture and integrations have been assessed, evaluate the workflows in your EPM system. If your workflows have become overly complex, like a tangled web of cables in a chaotic lab, they need to be streamlined. Workflows that take too many unnecessary steps can slow down your entire operation. By simplifying and optimizing them, you can save time and reduce frustration for your team.

Check User Access

Another important area to assess is user access. Make sure that the right people have access to the right data at the right time. Your users need proper permissions and clear pathways to the data they need. At best, mismatched access can lead to errors; at worst it can lead to security breaches. Even worse, it can lead to your team running in fear from your application.

Real-time Performance Metrics

Lastly, it’s crucial to assess performance metrics. Monitor how well your system is performing in real-time. Are certain processes or reports slowing down the entire system? Performance bottlenecks are often a sign that something deeper needs to be addressed, whether that’s the way data is processed or how workloads are distributed. By identifying these bottlenecks, you can pinpoint areas of inefficiency and take steps to fix them.

A health check will help you understand the full picture of your EPM system’s current state, ensuring you’re targeting the right issues before proceeding with the revival process.

Step 3: Stitch Together a Plan for Revival

Stitch Up Your Monster and Bring It Back to Life

Once you’ve identified the issues, it’s time to make a plan to reanimate your EPM system. Not all fixes are created equal, so you’ll need to prioritize what will have the biggest impact on performance.

First, focus on quick, high-impact fixes and think of them as tightening loose bolts on your creation. Small changes, like simplifying a few workflows or fixing data integration issues, can yield big performance gains right away. Quick wins can win over stakeholders for your application as well.

Next, tackle the bigger challenges that require more time and planning. If your data models or system architecture are the root of the problem, you’ll need to take a more careful, phased approach. Rushing these changes could lead to more monster-sized mistakes.

Don’t forget the human element. Even the best EPM system will fail if the people using it don’t know how to operate it. Make sure you provide adequate training so your team knows how to get the most out of the system.

Step 5: Keep Your EPM System Alive with Regular Health Checks

Don’t Let the Monster Run Wild Again

Once your EPM system is up and running, you’ll want to keep it from turning into another monster. Regular maintenance is important for preventing future issues and ensuring your system stays in top shape.

Perform quarterly health checks to revisit workflows, data models, and integrations. By catching small issues early on, you can prevent them from growing into bigger, scarier problems. Keep your team up to speed with continuous training so they can handle the system like pros.

Finally, set up proactive monitoring. This way, you’ll get alerted to potential issues before they become a nightmare, ensuring your system stays alive and well.

No More EPM Nightmares

By following these steps, you can bring your failed EPM implementation back from the dead and turn it into a reliable, high-performing system. With regular health checks, expert analysis, and the right approach to fixes, your EPM system will support your business goals- no more horror stories, just smooth operations.

Don’t let your EPM system turn into a horror show! With a little elbow grease, you can create a tool that supports your organization, instead of terrifying you.

If your EPM system resembles a creature gone awry, it may be time for an expert’s touch. At CFO Solutions, our Remediation Services can revive an application with the precision of a master craftsman, ensuring all “parts” function as they should. We assess each component of your system to identify issues, improve workflows, and optimize performance, all with the experience of experts in all things business intelligence.

Zap your EPM system back to life with a CFO Solutions' health check! Click the button below to learn more or contact us here.