Enterprise Performance Management (EPM)

Enterprise Performance Management (EPM) monitors the business and financial performance of an organization in four categories including Financial, Workforce, Capital and Projects.

Enterprise Performance Management (EPM)

Enterprise Performance Management (EPM) monitors the business and financial performance of an organization in four categories including Financial, Workforce, Capital and Projects.

The Administrative Information Management System (AIMS) will contribute the tools required to better understand and enhance business and financial performance across the health system.

EPM Planning and Budget Benefits

  • Consolidated financial data will be available in a single solution.
  • Improved analytics will provide the ability to benchmark and compare to other health organizations.
  • Available project risk and investment calculations will contribute to sound financial decision-making.

Enterprise Performance Management (EPM)

Questions and Answers

Q: How will AIMS help me manage my unit/department budget?
A: AIMS will have customized, integrated dashboards with current data to manage operational budgets and understand variances. You will be able to view all of your portfolios at once or drill into a particular department, or expenses when questions arise, without having to run separate reports.
Q: What kind of financial data and metrics will be available through AIMS?
A: Comprehensive summaries of key financial information will be available:
• Expense details (invoices)
• Annual budget and budget remaining
• Paid hour details by pay type
• Unit FTE overtime and leave cost comparisons
• Enterprise-wide compensation costs and FTE information by location, department, job
• Detail on positions within unit (turnover, multiple assignments, retirement eligibility, staff mix)
• Compensation budget by pay type
Q: How will Enterprise Performance Management (EPM) data assist in making better financial decisions?
A: EPM’s objective is to create financial and compensation budgets/reports that reflect the financial performance of the business. Customized, integrated dashboards assist in managing budgets and understanding variances.
End-users will have enhanced data analysis capability with easy access to detailed information. There will also be automated budget and forecast options that adjust for future periods, based on direction provided by management or current trends.
Q: Why is it important to compare performance between health organizations?
A: Benchmarks of similar institutions are helpful in understanding overall organizational performance.
Q: What is the benefit of having one system for budgeting and forecasting?
A: Leaders will have access to quality data to help to make sound financial decisions.

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