For years, Excel has been the go-to tool for every finance department. From budget planning, to tracking expenses, to forecasting sales – everything was done in spreadsheets. But as businesses grew and data grew exponentially, Excel began to show its limits.
Replacing Excel with EPM (Enterprise Performance Management) not only helps businesses work faster and more accurately, but also changes the financial management mindset: from "data synthesis" to "strategic leadership".
Between Excel vs EPM, this conversion not a technological revolution, which is a natural step in the growth journey of a business.
Overview: Excel vs EPM in Enterprise Performance Management
Excel is still a familiar and flexible tool, but in the context of modern businesses moving towards data-driven performance management, the transition to EPM is like Sactona – giải pháp từ Outlook Consulting do Bizzi.vn distribution Exclusive from Japan is an inevitable step forward. It is not just a change in tools, but a shift in management thinking – from data entry to strategic analysis.
1. What is Excel and its role in performance management
Over the decades, Microsoft Excel has become the most familiar tool in finance and accounting departments. With the ability to process data flexibly, create formulas and diverse charts, Excel allows businesses to easily budget, forecast revenue, track costs and measure performance.
Outstanding advantages of Excel:
- Easy to use, low cost and widely available.
- Allows flexible customization of financial models.
- Suitable for small businesses or FP&A teams in the early stages of digital transformation.
However, Excel has many limitations. As businesses scale and data becomes complex: difficulty with version control, risk of manual errors, lack of real-time collaboration, and lack of ability to aggregate data from multiple sources.
2. What is EPM? (Enterprise Performance Management)
EPM – Enterprise Performance Management is an enterprise performance management system that helps consolidate financial and operational data, automate planning, forecasting, reporting and analysis processes, thereby supporting data-driven strategic decision making.
In other words, in terms of Excel vs EPM comparison, if Excel is a “spreadsheet” tool, then EPM is a comprehensive performance management platform.
Popular EPM systems today include:
- Oracle EPM Cloud – world-leading solutions, strong in financial consolidation and budget planning.
- SAP EPM (SAP Analytics Cloud Planning) – Deep integration with ERP ecosystem, aimed at large enterprises.
- IBM Planning Analytics (powered by TM1) – Outstanding ability to analyze multidimensional data models.
- Sactona – EPM solution is designed to suit Vietnamese businesses, combining the flexibility of Excel and power of automation, data transparency of a Japanese standard EPM system.
3. Why is it necessary to compare Excel and EPM in the context of modern business?
In the era of Digital Finance Transformation, data has become a “strategic asset” that helps businesses make faster and more accurate decisions. Finance and accounting (FP&A) organizations not only record data, but also play the role of “navigator” – the person who guides strategy through analysis and forecasting.
Therefore, the limitations of Excel are increasingly exposed:
- Data is fragmented and lacks transparency.
- Difficulty coordinating between multiple departments, especially when working remotely.
- Fails to meet the requirements of control, audit trail and data security in large enterprises.
In contrast, EPM allows:
- Directly connect data from ERP, CRM, HR systems...
- Automatically consolidate and reconcile data in real time.
- Standardize planning, forecasting, and reporting processes.
- Enhance analytical capabilities, helping CFOs and FP&A focus on insights instead of data manipulation.
Comparing Excel vs EPM: From Tool to Performance Management Platform
Businesses do not “abandon” Excel, but upgrade from Excel to EPM – from manual operations to systematization, from discrete data to consolidated data.
For example Sactona is the ideal intermediate step: combining a familiar interface like Excel with the ability to automate, integrate and make data transparent according to international standards - helping Vietnamese businesses easily convert and quickly master EPM technology.
Below is the analysis to see the difference between Excel vs EPM in various aspects:
1. Compare features and data structures
Comparing features and data structures between Excel and EPM is not only about choosing technology, but also to shift the mindset from manual management to data-driven performance management.
| Criteria | Excel | EPM (Enterprise Performance Management) |
| Data structure | Flat file format, relies on user to set up formulas and manual linking. | Dữ liệu được mô hình hóa đa chiều (multi-dimensional model), có mối liên hệ giữa các thực thể như phòng ban, sản phẩm, thời gian, kênh phân phối… |
| Data control | No version control system – easy to go wrong when multiple people are working on it. | Have audit trail, layered access and clear change history. |
| Scalability | Limited when data is large (>1 million rows or multiple linked files). | Data is centralized on server or cloud system – unlimited expansion. |
| Security and authorization | Prone to leaking or mis-editing files. | Quản lý phân quyền chi tiết theo vai trò (CFO, kế toán, trưởng bộ phận…). |
Excel is suitable for small-scale, static data; while EPM is designed for dynamic, complex data that requires centralized control.
2. Comparison of planning and forecasting processes
Comparing the planning and forecasting process between Excel and EPM is not only to “see which is faster”, but also to measure the maturity of the enterprise's financial management capabilities.
| Criteria | Excel | EPM |
| How to plan | Done manually, based on file copy and separate data entry for each department. | Automatically collect data from multiple sources (ERP, CRM, HRM), consolidate and update in real time. |
| Internal collaboration | Sending and receiving files via email can easily lead to version confusion. | Collaborate online, with a clear approval process. |
| Flexibility | Flexible but difficult to maintain consistency between sheets, formulas. | The forecasting model can be flexibly customized while still ensuring system logic. |
| Forecast frequency | Usually done cyclically (monthly/quarterly). | Support rolling forecast – continuous forecasting, adapting to market fluctuations. |
3. Comparison of reports & dashboards
The purpose of comparing Excel and EPM in this aspect is not just to talk about interface, but to understand deeply the differences in the way of thinking and operating of modern financial management.
| Criteria | Excel | EPM |
| Reporting format | Manual spreadsheets, basic charts, difficult to update automatically. | Interactive reports and intuitive dashboards that can drill down to each data level. |
| Update data | User must enter and refresh manually. | Real-time updated data from integrated system. |
| Presenting results | Phụ thuộc kỹ năng của người dùng (pivot, macro…). | Có thư viện báo cáo mẫu theo chuẩn quản trị (P&L, Balance Sheet, Cash Flow, KPI Dashboard…). |
| Share report | Send file or print PDF. | Publish online, view permissions by rank and function. |
4. Compare automation & integration capabilities
Automation & Integration is the “backbone” that makes the difference between Excel and EPM. Comparing the automation & integration capabilities between Excel and EPM helps businesses clearly see the gap between “manual management” and “data-driven intelligent management.”
| Criteria | Excel | EPM |
| Level of automation | Macro dependent, VBA – difficult to maintain, error prone. | Quy trình tự động hóa có sẵn (workflow, schedule, alert, consolidation…). |
| System integration | Cần import/export thủ công từ ERP, CRM… | Direct connection to enterprise systems: ERP, HRM, POS, Data Warehouse. |
| Data reconciliation & consolidation | Manual, prone to error. | Automated data consolidation, cross-checking and data validation. |
| Processing speed | Performance drops when data is large or there are many formulas. | Server/cloud based processing – fast, stable and capable of running simulations (what-if scenarios). |
Limitations of Excel in corporate financial management
Excel is still a familiar tool but only stops at the "operational" level. When the business scale expands, data increases exponentially, Excel will gradually reveal many limitations.
1. Errors and risks in data processing
“Every planning or forecasting period is a race to check files – fix formula errors – reconcile data.”
- Data is entered and calculated manually → prone to formula errors, data errors or version overrides.
- There is no version control or audit trail.
- When multiple people are working together, “file overwriting”, “losing the latest update” or “a wrong formula leading to an incorrect report” happens frequently.
- Data review and reconciliation is time-consuming, leaving FP&A “stuck” in a data entry loop instead of analysis.
2. Lack of data integration and governance capabilities
The accounting department had different figures than the sales department, and it took FP&A a whole week just to reconcile.”
- Data is often scattered across hundreds of files or folders, with no centralized data repository.
- Each department stores a different version → leading to “data inconsistency” (one data per person).
- Cannot connect directly to business systems (ERP, POS, eCommerce, HRM...). All operations must be imported/exported manually.
- As data size increases, Excel files are prone to freezing, link failures, or formatting loss.
3. Limitations in analysis and decision making
CFOs have the data, but not the timely insights to make strategic decisions.
- Excel is only good for descriptive reporting (“what happened?”), but limitations in predictive analysis and what-if scenario simulation.
- Cannot handle large, complex data or multidimensional analysis (by product, region, sales channel, cost…).
- Data visualization (dashboards, real-time KPIs) requires high skills and is time-consuming to update.
- Slow data updates → delayed decision making, not suitable for volatile business environment.
In short, to compare Excel vs EPM, Excel is still a familiar tool but only stops at the "operational" level. Meanwhile, EPM helps businesses overcome human limitations - moving towards comprehensive data management and performance standards.
Solutions like Sactona are a smart move, helping Vietnamese businesses reduce risks, increase speed and make the entire financial process transparent.
Benefits of converting from Excel to EPM
For many years, Excel has been the “right-hand man” of the finance and accounting department. But as business data grows rapidly, the planning, forecasting, and reporting process becomes increasingly complex, Excel has clearly shown its limitations: lack of transparency, prone to errors, difficult to collaborate, and time-consuming manual synthesis.
At this point, EPM (Enterprise Performance Management) becomes an inevitable step forward — helping businesses upgrade the way they manage financial performance, shifting from data entry to strategic analysis.
1. Increase efficiency and accuracy in planning
With Excel: Every planning or forecasting period is a series of manual tasks: copying and pasting data, checking formulas, comparing files between departments. Small errors can cause the summary report to be off by billions of dong.
With EPM:
- Tự động tổng hợp dữ liệu từ nhiều nguồn (ERP, CRM, HRM…).
- Data is consolidated in a single system – ensuring “single source of truth”.
- Reduce manual errors, increase accuracy and reliability of financial planning.
2. Automate planning and reporting processes
With Excel: The planning and reporting process is still human-dependent – each data update involves sending files, editing, and merging.
With EPM:
- Automate the entire cycle Planning – Forecasting – Reporting – Consolidation.
- Have approval workflow, deadline warning, and audit trail track every change.
- Reports and dashboards are updated real-time – no need to wait for manual aggregation.
3. Synchronize data between departments
With Excel: Each department has its own file and calculation method – leading to data conflicts and time-consuming reconciliation.
With EPM:
- Kết nối các phòng ban trên cùng một nền tảng: tài chính, bán hàng, marketing, sản xuất, nhân sự…
- Data updates in real-time, ensuring all departments see the same results.
- Support close coordination between departments in the planning and forecasting process.
4. Save time and money
Excel: Depends heavily on human resources – time consuming to input data, check, and correct errors. When expanding, more human resources and new files are needed.
EPM:
- Automate processes, reducing data compilation and reconciliation time by 50–70%.
- Reduce IT costs (no need for dedicated servers, complex maintenance).
- Optimize training costs: friendly interface, easy to access for users familiar with Excel.
Đặc biệt với Sactona – giải pháp EPM từ Outlook Consulting do Bizzi phân phối độc quyền tại thị trường Việt Nam, doanh nghiệp có thể triển khai nhanh chỉ trong 2–3 tháng, thay vì 6–12 tháng như các hệ thống EPM lớn (Oracle, SAP). Ngoài ra, Sactona còn có chi phí đầu tư thấp hơn, nhưng vẫn đảm bảo chuẩn quản trị quốc tế. Hơn thế nữa, điểm cộng giao diện quen thuộc như Excel sẽ tiết kiệm thời gian làm quen phần mềm, dễ sử dụng.
When should businesses use EPM instead of Excel?
In the early stages, Excel was an effective tool to help businesses control costs, plan and track financial results. However, as operations expanded and data became more complex, Excel was no longer able to meet the requirements of speed, accuracy and transparency.
That is when businesses should consider switching to an EPM (Enterprise Performance Management) system – a comprehensive, automated performance management platform that connects data across the entire organization. Among the current EPM platforms, Sactona Developed by Sactona Japan Company, has been hundreds of corporations such as Fujifilm, Panasonic, LIXIL, Marubeni successful implementation
In Vietnam, Bizzi is the exclusive distribution partner of Sactona, giving businesses a Japanese standard EPM solution. Sactona is designed to suit:
- Fast growing business, need to consolidate data and multi-departmental planning.
- CFO, FP&A and management accounting Want to move from Excel to a professional performance management system.
- Industries: sản xuất, bán lẻ, FMCG, dịch vụ tài chính, logistics, công nghệ, giáo dục…
1. Which businesses are suitable for conversion?
Not every business needs EPM right from the start. However, if the following “warning signs” appear, continuing to maintain Excel can cause the organization to slow down and lose control of data: Businesses should switch to EPM when:
- Financial data is stored and aggregated in multiple Excel files, easy to misalign between departments.
- Planning, forecasting, and reporting consolidation cycles takes weeks instead of hours.
- The company's scale has expanded (many branches, many business channels), making manual data control no longer effective.
- The leadership needs to Fast, accurate real-time reporting and forecasting, instead of waiting for synthesis.
- The Finance & Administration (FP&A) department desires increased strategic role, performance analysis instead of just data entry.
Between Excel vs EPM, EPM is more suitable for Fast-growing businesses need to make decisions based on transparent and up-to-date data.
2. Compare costs and ROI
Many businesses hesitate with EPM because they think “Excel is free, EPM is expensive”. However, reality shows that The Hidden Costs of Maintaining Excel much higher than imagined.
| Category | Excel | EPM (e.g. Sactona) |
| Software costs | Low or almost free | There are licensing and implementation fees. |
| Personnel costs | High: need many people to enter data, check, compare files | Reduce 40–60% of data entry manpower thanks to automation |
| Risk of error | Formula errors, wrong data → costly to check and fix | Data consolidation, automatic control |
| Time cost | Compilation and reporting takes days | Real-time reporting, reducing planning time |
| Training & Deployment | Almost unnecessary (but unsystematic) | Sactona has a familiar Excel interface → easy to learn, reduces training costs |
| ROI (return on investment) | Hard to measure, short-term benefits | Fast ROI – through increased productivity, reduced IT & operating costs |
Excel vs EPM has a big difference in cost. However, maintaining Excel is cheap in the short term but expensive in the long term, while investing in EPM creates sustainable returns through transparent data, automated processes and accurate decision making.
3. User-friendliness
One of the biggest barriers to businesses moving from Excel to a system is the fear of change – especially for users accustomed to working with spreadsheets. But modern EPM solutions like Sactona have removed this barrier.
Sactona is an EPM solution developed by Outlook Consulting, exclusively distributed by Bizzi in Vietnam.. The solution is specially designed for Vietnamese businesses, helping CFOs, FP&A and finance teams easily plan, forecast, consolidate data and report on a single platform – fast, accurate and transparent.
- Familiar interface like Excel: users can manipulate formulas, spreadsheets, and pivot tables similarly.
- Easy integration with existing Excel data, no need to rewrite the entire model.
- The automation, approval and reporting system is designed to be intuitive and suitable for the working habits of Vietnamese finance teams.
It can be seen that Excel is still a useful tool, but only enough for the manual management stage. When the business enters a period of rapid development, multi-branch, multi-channel, needs accurate planning and forecasting to optimize profits, to make a decision between Excel vs EPM, EPM is the inevitable choice.
Conclude
Hopefully the above article has helped leaders find the answer to the question of which software to choose between Excel and EPM. Excel used to be the “national” tool of the finance and accounting department. But in the context of businesses expanding in scale, data increasing rapidly and decision-making requirements becoming increasingly complex, Excel is becoming a major barrier to management efficiency.
In the data age, successful businesses are those that know how to harness the power of information. The transition from Excel to EPM is necessary, where all data is consolidated, processes are automated, and reporting is always transparent and accurate.
When businesses need to “look beyond the spreadsheet”, Sactona is the solution for CFOs and businesses that are transitioning from manual Excel to the era of Data-driven Finance. Sactona is not just software, but a strategic solution to help Vietnamese businesses modernize their financial management systems, moving closer to global operating standards.
From disparate Excel tables, Sactona helps businesses build a unified, transparent and reliable data platform, creating a solid foundation for all business decisions.
- Speed up planning and reporting by 3–5 times.
- Minimize data errors, transparency throughout the financial cycle.
- Shorten decision-making time with real-time dashboards.
- Reduce personnel and IT costs thanks to an automated, easy-to-operate system.
- Fast ROI – typically after 6–9 months of implementation.
Sactona – EPM solution is the trusted assistant of modern CFOs. Sign up here to get advice!