Enterprise Performance Management Software - CIS

By 2024, the revenue in the Enterprise Performance Management Software market is forecasted to reach US$43.86m.
It is expected to experience an annual growth rate of 3.89% from 2024 to 2029, resulting in a market volume of US$53.07m by 2029.
In terms of the average Spend per Employee in this market, it is projected to reach US$0.38 in 2024.
When comparing the revenue generated globally, United States is expected to lead the market with US$2.87bn in 2024.
With the growing demand for data-driven decision-making, CIS companies are increasingly adopting Enterprise Performance Management Software to enhance their financial planning and analysis capabilities.

Definition:

The Enterprise Performance Management Software market covers software solutions that help organizations to manage and improve their performance across various areas, such as finance, operations, and strategy. These solutions typically include features for financial planning and analysis, budgeting, forecasting, and consolidation. These are primarily focused on providing insights and strategic guidance to help organizations make informed decisions and achieve their long-term goals.

Products in the Enterprise Performance Management Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Enterprise Performance Management Software market comprises revenue and revenue growth as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by enterprises (B2B) and governments (B2G).

Key players in this market include Oracle. SAP, Anaplan, IBM, and Workday.

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Performance management software, such as PerformYard, Engagedly, Leapsome, BambooHR, SAP SuccessFactors, Paylocity, and Workday
Financial planning and budgeting, such as SAP, Workday, and Centage (Budget Maestro)
Strategic planning and modeling, such as Workday Adaptive Planning, Jedox, and Host Analytics

Administrative software, such as ADP, Gusto, Workday, and SAP
Office software, such as Microsoft, Google, and Zoho
Collaboration software, such as Google, Slack, and Zoom

The Enterprise Performance Management Software market in CIS is experiencing growth due to various factors.

Customer preferences: Enterprises in CIS are looking for software that can help them manage their financial performance, track their progress, and make informed decisions. They prefer software that is easy to use, customizable, and provides real-time data.

Trends in the market: One trend in the Enterprise Performance Management Software market in CIS is the increasing demand for cloud-based solutions. Cloud-based solutions are becoming popular due to their flexibility, scalability, and cost-effectiveness. Another trend is the integration of Artificial Intelligence (AI) and Machine Learning (ML) in the software. AI and ML are being used to provide predictive analytics, automate routine tasks, and improve decision-making.

Local special circumstances: CIS countries have unique market conditions that affect the Enterprise Performance Management Software market. For example, the lack of transparency in financial reporting and the prevalence of corruption in some countries make it difficult for enterprises to make informed decisions. To address this, some software vendors are offering solutions that provide greater transparency and help enterprises comply with local regulations.

Underlying macroeconomic factors: The growth of the Enterprise Performance Management Software market in CIS is also driven by macroeconomic factors such as the increasing GDP, rising investments in technology, and the growing number of small and medium-sized enterprises (SMEs). SMEs are increasingly adopting Enterprise Performance Management Software to improve their financial performance and gain a competitive edge. Additionally, the government's initiatives to digitize the economy and promote innovation are creating opportunities for software vendors in the region.In conclusion, the Enterprise Performance Management Software market in CIS is growing due to the increasing demand for cloud-based solutions, the integration of AI and ML, unique local market conditions, and underlying macroeconomic factors. As the market continues to evolve, software vendors will need to adapt to these trends and provide solutions that meet the evolving needs of enterprises in the region.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

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