inlumi blog

When I started my first internship in a Finance department in 2005, we actively used Excel for most of our Finance processes. I am amazed that after all these years, Excel is still prevalent as a data source for reporting. Although Excel certainly has its place, a performance management solution is imperative for carrying out complex financial processes, enabling Finance to become a true business partner.

You may or may not be familiar with the “catch 22” idiom. It is where one is trapped between two contradictory conditions, a somewhat inescapable paradox. It is a situation that I frequently come across when discussing the benefit of an Enterprise Performance Management (EPM) solution. Organisations are in desperate need of a tool that streamlines their FP&A processes, but the team involved shudders at the thought of implementing a solution.

What is Performance Management? While you have probably read the terms Enterprise Resource Management (ERP) and Customer Relationship Management (CRM) before, the term Performance Management is less often mentioned but just as important. Put simply, ERP systems improve the back office and CRM systems improve the front office – which together help you to achieve Operational Excellence. Performance Management systems, on the other hand, are used by the finance team to help you to achieve Management Excellence.

Welcome to the next in the series of articles that explains how we at inlumi approach our projects. In previous articles I have looked at the importance of the data model and my colleague, Kim Lam, spoke about the agile methodology we apply during the Design, Development and Test phases of our projects. In this article, I will be expanding on Kim’s article to show how we apply an agile, templated approach and how this approach works brilliantly for EPM projects.

In a previous post, Paul Wilcock discussed the importance of data model design. In this article we are now moving on to discuss how to best layer on top of the data model functionality that can bring your solution to life.

Welcome to the first in a series of articles that describe how we at inlumi approach projects and why this approach is important to us.

During these unprecedented times, many companies are adapting the way they operate with the emphasis on remote working. In fact, it is highly likely that you will be reading this from your own home office space. Overnight, Covid-19 has forced a new style of working which could even become permanent as companies and employees embrace the flexibility that it offers. Could this be the new normal?

In these unprecedented and turbulent times, long-awaited strategic projects to replace ailing Enterprise Performance Management (EPM) solutions may have been placed on hold for the foreseeable future. Are you confident that your current systems and processes are resilient enough to perform critical business tasks in the short-term? Does your EPM solution exhibit any of the following symptoms?

As organisations are increasingly in need of detailed financial reporting, financial processes have become more complex with greater pressure on process control. Several people may be involved in various business processes within the same organisation, making the processes extensive and difficult to follow.

EPM technology is undergoing its biggest change since inception. How do you know which solution is right for your business? Let inlumi show you how to unlock the benefits that modern EPM can achieve.