Securing you EPM System
Securing Your EPM System
Risks, Oversight & Practical Protections
Overview
Enterprise Performance Management (EPM) systems hold critical financial planning and reporting data. Because these systems contain sensitive, high-value information, protecting them from both digital attacks and unintentional mistakes is vital.
This post outlines common weaknesses, a four-layer protection strategy, and practical steps to enhance security and oversight across your EPM platform.
What Puts These Systems at Risk?
While EPM platforms streamline forecasting and reporting, their centralization makes them attractive targets. Common vulnerabilities include:
- Users accessing or editing data they shouldn’t see
- Outdated user permissions following role changes
- Sensitive data exposed during file transfers
- Lack of user activity tracking and approval processes
Cloud providers protect infrastructure, but businesses must manage user access and internal risk.
Four Layers of EPM Security
Effective EPM protection starts with a layered approach:
- Platform & Infrastructure Security: Secure data storage, network protection, and encryption in transit and at rest
- User Logins & Permissions: Centralized authentication and role-based access reviews
- In-System Controls: Approval workflows for sensitive actions like budget edits
- Admin Safeguards: Time-limited access, password security, and full audit tracking for admin accounts
Managing Oversight & Compliance
- Define responsibility: Create a cross-functional oversight team
- Apply best practices: Use frameworks for data security and financial control
- Identify top risks: Prioritize issues like permission misuse or untracked uploads
- Enable logging: Monitor user actions and flag anomalies in real time
Why It Matters
- Better compliance: Supports SOX and privacy regulations
- Lower risk: Reduces chances of internal or external breaches
- Greater trust: Builds confidence among leadership and auditors
- Scalability: Simplifies onboarding of new users and data sets
Conclusion
Securing your EPM system requires more than just good technology — it takes structure, responsibility, and layered protections. From technical safeguards to oversight processes, this approach helps ensure that your EPM platform remains a trusted foundation for financial decision-making.
