Enterprise Performance Management Software - Finland

The Enterprise Performance Management Software market in Finland is expected to generate a revenue of US$26.41m in 2024.
This revenue is projected to grow at an annual growth rate (CAGR 2024-2029) of 2.90%, resulting in a market volume of US$30.46m by 2029.
In Finland, the average Spend per Employee in the Enterprise Performance Management Software market is also expected to reach US$9.16 in 2024.
When comparing in Finland to other countries globally, it is worth noting that United States is projected to generate the highest revenue in this market segment, reaching US$2.87bn in 2024.
The use of cloud-based Enterprise Performance Management Software is gaining traction in Finland's software market, enabling businesses to streamline their financial planning and reporting processes.

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 Finland has been steadily growing in recent years.

Customer preferences: Finland's business sector has been increasingly digitized, with more companies turning to cloud-based solutions for their performance management needs. This shift has been driven by a desire for greater efficiency and flexibility, as well as the need to comply with regulations such as GDPR.

Trends in the market: One trend that has emerged in the Finnish market is the adoption of integrated performance management solutions. Companies are looking for software that can handle multiple functions, such as financial planning, budgeting, and forecasting, in a single platform. This allows for greater collaboration and streamlines processes.Another trend is the increasing use of data analytics in performance management. Companies are looking for software that can not only collect data, but also analyze it and provide actionable insights. This allows for more informed decision-making and better performance outcomes.

Local special circumstances: Finland's small business sector has been a driving force behind the growth of the Enterprise Performance Management Software market. Small and medium-sized enterprises (SMEs) are increasingly turning to these solutions to improve their performance and competitiveness. This has created opportunities for software providers that cater to the needs of this segment.

Underlying macroeconomic factors: Finland's strong economy and stable political environment have created a favorable business climate for Enterprise Performance Management Software providers. The country's highly educated workforce and advanced technological infrastructure have also contributed to the growth of the market. Additionally, the government's support for digitalization initiatives has encouraged companies to adopt cloud-based solutions.

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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