MDS ap, in a bid to support businesses through a potentially challenging period in the Middle East, has partnered with EPM International (EPMi), an international network specialising in EPM consulting, in a collaboration aimed at supporting regional business through irregular market conditions.
As the IMF cuts regional growth forecasts – with the UAE GDP figure moderated to 2.4 percent for 2016, down from 3.9 percent in 2015 – pressure is mounting on industry chiefs to adopt measures essential to surviving and thriving in an increasingly turbulent environment.
With the regional focus heavily on financial efficiency and improved foresight due to uncertainty in oil and gas markets, MDS ap has partnered with EPMi to bring global EPM best practice to the region.
EPM, which is also referred to as Corporate Performance Management (CPM), describes the methodologies, metrics, processes and systems used to monitor and manage the business performance of an enterprise. Applications that enable CPM, such as SAP EPM solution set, translate strategically focused information to operational plans and measure aggregated results. These applications are also integrated into many elements of the planning and control cycle, or they address Business Activity Monitoring (BAM) or customer relationship optimisation needs.
As market turbulence is impacting optimism and risk appetite in the Middle East, businesses are focusing on cost reduction and internal economics, and are increasingly looking towards EPM projects to drive efficiency, governance, revenue, better foresight and profitability. Implementation of EPM solutions have recorded significant growth year on year, despite the recent global recession, due to the success in revolutionising organisations through effective forecasting, insight and analysis.
MDS ap together with EPMi will offer a range of services from performance management processes and an associated performance management roadmap, through to project management, implementation and application management services. MDS ap will also offer a ‘health-check’ evaluation, which assesses an organisation’s performance in EPM processes as well as systems and identifies areas in need of positive change.
UAE Exchange has completed a company-wide EPM transformation using SAP Business Planning and Consolidation (SAP BPC), which was presented on 10th May at a CFO best practice round table at Jumeirah Emirates Towers – along with MDS ap and SAP – to discuss the importance of financial efficiency at a time of market adjustments.
Jones said “Many organisations have realised the importance of financial efficiency in planning and forecasting during times of market uncertainty. Any business that wishes to survive and thrive during what are undoubtedly turbulent times for Middle East markets, would be well advised to look at the EPM process. With regional representation through MDS ap, we are gaining more of a foothold in an important market and bringing on board proven, global, integrated service providers who have seen the benefit of EPM in difficult times in markets worldwide.”
The CFO of UAE Exchange presented a case study sharing his experience of the recently completed BPC project, whilst the chairman of EPMi and Managing Director of Column5 EMEA, David Jones, highlighted to the participants the importance of EPM solutions especially when markets are down.
Tony Achkar, Group Managing Director, MDS ap, said, “EPMi is a renowned international network which we’re proud to have joined. In recent times, we have seen huge growth in EPM adoption in the MENA region, as more businesses are realising its cost effectiveness. In having access to the expertise, knowledge and expert consultants the EPM International network provides, we can accelerate our growth rate, whilst supporting EPMi as an increasingly prominent figure in the region.”