What is external factor in SAP EPM-SA - SAP Spend Performance Management?

SAP Term: external factor

• Component: EPM-SA

• Component Name: SAP Spend Performance Management

• Description: Provide information on related external factors for a given KPI, which can impact the performance.

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• Key Concepts: 
  External factor is a term used in SAP Spend Performance Management (EPM-SA). It is a measure of the external environment that affects the performance of an organization. This includes factors such as economic conditions, competition, and customer demand. 
  
  How to use it: 
  External factors can be used to assess the performance of an organization. This can be done by analyzing the external environment and determining how it affects the organization's performance. The data collected can then be used to make decisions about how to improve performance. 
  
  Tips & Tricks: 
  When analyzing external factors, it is important to consider both short-term and long-term effects. Short-term effects may include changes in customer demand or competition, while long-term effects may include changes in economic conditions or technological advances. 
  
  Related Information: 
  External factors are closely related to internal factors, which are measures of an organization's internal environment such as its organizational structure, processes, and resources. Both external and internal factors should be taken into account when assessing an organization's performance.