What is operational performance management in SAP EPM-SA - SAP Spend Performance Management?

SAP Term: operational performance management

• Component: EPM-SA

• Component Name: SAP Spend Performance Management

• Description: The practice of managing the effectiveness and value of operations by aligning people, processes, information and technology to a common set of business goals and objectives.

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• Key Concepts: 
  Operational performance management (OPM) is a process used to measure and improve the performance of an organization's operations. It involves analyzing the performance of operations, identifying areas for improvement, and implementing changes to improve operational efficiency. OPM is a key component of enterprise performance management (EPM) and is used to ensure that an organization's operations are running at peak efficiency.
  
  How to use it: 
  The SAP Spend Performance Management (EPM-SA) component of OPM helps organizations measure and manage their spending. It provides insights into spending patterns, enabling organizations to identify areas where they can reduce costs and improve efficiency. The EPM-SA component also provides tools for budgeting, forecasting, and reporting on spending.
  
  Tips & Tricks: 
  When using the EPM-SA component of OPM, it is important to ensure that data is accurate and up-to-date. This will help ensure that the insights provided by the system are reliable and actionable. Additionally, it is important to regularly review spending patterns to identify areas where costs can be reduced or efficiency improved.
  
  Related Information: 
  The SAP Spend Performance Management (EPM-SA) component of OPM is part of the larger SAP Enterprise Performance Management (EPM) suite of products. Other components of EPM include financial performance management, risk management, and analytics. Additionally, SAP offers a range of services to help organizations implement and optimize their EPM solutions.