Data-driven insights, regulatory compliance, cost optimization, and cloud adoption are driving Mexico’s Enterprise Performance Management market.
PORTLAND, OREGON, UNITED STATES, September 4, 2023 /EINPresswire.com/ — Mexico Enterprise Performance Management Market size was estimated at $338.50 million in 2021 and is anticipated to grow at a CAGR of 10.8% from 2022 to 2031 to reach $919.49 million.
EPM solutions are crucial because they support a number of management processes, including budgeting, planning, forecasting, modeling, periodic consolidation of results and book closing, communication of results to internal & external stakeholders, and performance analysis based on plans, divisions, or products. By coordinating financial, strategic, and operational goals, expanding budgeting participants, and providing managers with more immediate information, EPM software helps to drive functionality across the company. Return on investment (ROI), revenue expenses, overhead costs, and operational costs are some metrics used to assess EPM software.
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Mexican financial institutions are increasingly moving their EPM solutions to the cloud to improve flexibility, scalability, and cost-effectiveness, which is driving market growth in the BFSI sector. However, the Energy & Utility segment is expected to witness the highest growth, owing to an increase in the need for enhanced resource management, further propelling the growth of the enterprise performance management market.
One of the prominent trends in the Mexico EPM market is the increasing adoption of cloud-based EPM solutions. Organizations are recognizing the benefits of cloud EPM, such as scalability, accessibility, and cost-effectiveness. This trend allows businesses in Mexico to leverage advanced EPM capabilities without the need for extensive on-premises infrastructure. It also enables remote work and collaboration, which has become essential in the modern business environment, especially in light of recent global events.
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Mexico’s EPM market is witnessing a growing emphasis on data analytics and artificial intelligence (AI) integration. Businesses are leveraging advanced analytics tools and AI-driven insights to make data-driven decisions. By combining EPM with these technologies, organizations can gain deeper insights into their financial and operational performance, optimize resource allocation, and identify growth opportunities. This trend is helping Mexican companies stay competitive in an evolving business landscape.
Another significant trend in the Mexico EPM market is the heightened focus on regulatory compliance and risk management. As regulatory requirements become more stringent, businesses are turning to EPM solutions to ensure accurate financial reporting and adherence to compliance standards. EPM tools are helping organizations in Mexico assess and mitigate financial risks, ensuring transparency and accountability in their operations.
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The major players operating in the Mexico enterprise performance management market are Accenture, Board International, Capgemini, IBM Corporation, Infor, Infosys Limited, Oracle, SAP SE, Wipro, and Workday, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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Allied Analytics LLP
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