<\/span><\/h3>\nIn fact, many businesses invest billions of dong in EPM (Enterprise Performance Management) systems, but after a while, the project stops halfway or is not used effectively.<\/span><\/p>\nThe common cause of EPM errors lies not only in technology, but more deeply in how businesses prepare people and processes for change.<\/span><\/p>\n\n- Lack of alignment between business goals and technical implementation<\/span><\/li>\n<\/ul>\n
A common mistake is that businesses view EPM as an IT project, instead of a performance management project. The system is implemented in a \u201csoftware installation\u201d direction without being linked to specific business goals. When the technical team and the finance team do not speak with the same voice, the result is a system that works but does not solve the \u201cpain\u201d of the business.<\/span><\/p>\n\n- Lack of Change Management<\/span><\/li>\n<\/ul>\n
Implementing EPM means changing years of work habits. From manual data entry in Excel to automated models, from individual reports to centralized data \u2013 all require a change in thinking and processes.<\/span><\/p>\nWithout an internal communications strategy, user training, and a clear transition roadmap, no matter how good an EPM system is, it's easy to get "put to rest" after a few months.<\/span><\/p>\n\n- Project management lacks long-term vision<\/span><\/li>\n<\/ul>\n
Some businesses want to \u201csee results immediately\u201d, leading to hasty implementation, lacking a testing phase and evaluating actual effectiveness. This is a common mistake in EPM implementation. There is no set of indicators to measure ROI or performance after implementation, making it difficult to maintain the system in the long term.<\/span><\/p>\n<\/span>6 Common EPM Implementation Mistakes<\/b><\/span><\/h2>\nDeployment <\/span>EPM (Enterprise Performance Management)<\/b> is a strategic step to help businesses improve their planning, forecasting and decision-making capabilities. However, many projects do not bring about the expected results because of problems. <\/span>classic mistakes<\/b> hereafter.<\/span><\/p>\n<\/span>1. Project Governance Failure<\/b><\/span><\/h3>\nEnterprises deploy EPM but <\/span>no strong project board<\/b>, lack of \u201cownership\u201d and coordination between parties (finance \u2013 IT \u2013 consulting). Many decisions are delayed, project scope continuously expands (\u201cscope creep\u201d), causing delays and budget overruns.<\/span><\/p>\n<\/span>2. Poor Data Quality & Integration Issues<\/b><\/span><\/h3>\nEPM is only as strong as the data input. If data from ERP, CRM or Excel is incorrect, the system will be \u201cgarbage in \u2013 garbage out\u201d (<\/span>Garbage In, Garbage Out<\/span><\/i>). Lack of standardization of account codes, product categories, or consolidation rules makes reporting results unreliable.<\/span><\/p>\n<\/span>3. Lack of training and change management<\/b><\/span><\/h3>\nUsers familiar with Excel are often reluctant to switch to a new system. Without training and an explanation of the value of EPM, they will avoid using it or enter data incorrectly.<\/span><\/p>\n<\/span>4. Over-Customization & Technical Complexity<\/b><\/span><\/h3>\nMany businesses want \u201cEPM to do it all\u201d and require deep customization, making the system complex, difficult to maintain and expensive. This is contrary to the \u201cBest Practice\u201d spirit of EPM \u2013 standardizing processes, not having to reprogram from scratch.<\/span><\/p>\n<\/span>5. Not defining clear KPIs and ROI<\/b><\/span><\/h3>\nIf not specified <\/span>success measurement goals<\/b>, businesses will not know how to avoid failure when implementing EPM, and even less know whether the EPM system is "worth the money" or not. Indicators such as <\/span>planning time, reporting speed, forecast accuracy<\/b> need to be measured before and after implementation.<\/span><\/p>\n<\/span>6. Under-budget or incorrect cost estimates<\/b><\/span><\/h3>\nMany businesses only calculate the cost of the software, but <\/span>Forgetting the costs of data, integration, training, and operations<\/b>.<\/span><\/p>\nWhen budgets are exceeded, projects are stopped or scope is reduced, causing the system to lose overall value.<\/span><\/p>\n<\/span>Root Causes of Failed EPM Implementations<\/b><\/span><\/h2>\nDeployment <\/span>EPM (Enterprise Performance Management)<\/b> It's not just about installing a software, but <\/span>project to completely restructure the way a business operates and makes decisions<\/b>. <\/span>Therefore, the common EPM implementation mistakes that lead to failure often do not come from technology, but from lack of preparation in strategy, data and people.<\/p>\n<\/span>1. Lack of a clear master plan and roadmap<\/b><\/span><\/h3>\nMany businesses begin to implement EPM <\/span>without a long-term vision<\/b> \u2013 focusing only on one module or short-term problem (e.g. budget planning), without defining a roadmap for future expansion.<\/span><\/p>\nThe result is:<\/span><\/p>\n\n- The operating system is discrete and not scalable.<\/span><\/li>\n
- New modules have to be \u201cpatched\u201d later, increasing costs and complicating the data structure.<\/span><\/li>\n
- Users do not see the \u201cbig picture\u201d and therefore lack commitment to using the system.<\/span><\/li>\n<\/ul>\n
<\/span>2. Lack of connection between finance & IT<\/b><\/span><\/h3>\nEPM is a unique project: technology for financial operations. But in reality, these two departments often work in parallel, not in the same direction:<\/span><\/p>\n\n- Finance understands the business, but not the technical.<\/span><\/li>\n
- IT understands the system, but not the logic of planning, forecasting, or consolidated reporting.<\/span><\/li>\n<\/ul>\n
When both sides do not go together, the project is likely to encounter the following situation:<\/span><\/p>\n\n- Build the system correctly technically but wrongly in practice.<\/span><\/li>\n