The inability to execute strategic plans, as formulated by the management, into everyday actions throughout the organization across business units, divisions and geographical regionshave led many profitable enterprises and organizations worldwide to a situation where their sustenance itself is at stake. It is against this backdrop of execution failure, an innovative approach to the implementation of enterprise strategies referred as Enterprise Performance Management (EPM) has come into practice. This article discusses the emergence of EPM strategy and solution to overcome the limitations of the existing systems. Further, it discusses how corporate-wide performance management solutions have emerged to help decide and implement suitable strategies that work better for the organization, and face the challenges of the dynamic business environment characterized by shorter time frames, stiffer competition and strategic alliances through continuous assessment and evolution of corporate strategies.

A decade or two ago, the performance management and strategic decision-making tasks were intended to be supported by Executive Information System (EIS) and, recently by Business Intelligence (BI) solutions. EIS applications were well projected, but required phenomenal amounts of proprietary development and maintenance by IT staff. As the critical operational information is spread across multiple systems and data sources, and lies captivated as unstructured content that resides on employee desktops, e-mail attachments or web links, obtaining true picture of the firm's health and its overall performance at any given moment proved to be obscure with EIS. On the other hand, catering to the information requirements of managers was often taking weeks with EIS and business situations were changing by that time resulting in lost opportunities. Besides, the returns for businesses from EIS were mixed. Though BI solutions have the capability to offer timely business analytics, they are limited to support the challenge of enterprise-wide performance management that provides insights into overall health of the organization.

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