The Prospects and Challenges of Implementation of Enterprise Performance Management System Project. A Case of Commercial Bank of Ethiopia
No Thumbnail Available
Date
2022-09
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Addis Ababa University
Abstract
To remain competitive and keep up with modern technology, organizations have to take a new look at the way they operate, achieve strategic business objectives and goals. Enterprise Performance Management System is a software solution designed to assist organizations and businesses in linking strategies to their planning and the execution of their strategies. Commercial bank of Ethiopia has adopted EPM system solution from a vendor called Oracle. The main objective of the study is to assess the prospects and challenges of Implementing Enterprise Performance Management System Project in the case of Commercial Bank of Ethiopia. The study adopted descriptive research design. Using a census survey method, data was collected from 44 EPM system project implementation participants, and users in Financial Reporting and Reconciliation office, Budget Control office, and Strategy Planning office through questionnaires and interviews. In addition to six interview questions, questionnaires with items of 33 were distributed and collected with a response rate of 83%. The collected data was analyzed using SPSS version 26. Presentation, interpretation and discussion also made using table, Frequency (N), Percentage (%) and mean to get ample findings. 11 items were used to examine the benefits, eight items were used to examine the critical success factors, 7 items were used to examine challenges during implementation, and addition 7 items were used to examine the post go-live challenges of EPM system. According to the findings, the majority of the respondents agree that the implementation of EPM system have positively influenced process level performance, and have helped the organization remain competitive. According to respondents, committed top management support, consultant and vendor support, and stakeholder engagement were topped the most critical success factors. Misaligned expectations, poor project management strategy, and lack of functional and technical expertise were identified as the most EPM system implementation challenges. Data quality and data volume challenges were among the main challenges during post go-live stages. The researcher recommends setting a clear and effective project governance/management strategy, which may include identifying decision makers, sign-off schedule on key deliverables and milestones, point of escalation, and others specific to each project implementation during the project-planning phase.
Key words: Enterprise Performance Management (EPM), EPM benefits, EPM critical success factors, EPM challenges, CBE