Selecting an EPM solution
How should you prepare an EPM requirements specification?
An EPM specification should help candidates understand how you work and provide comparable proposals. Its quality depends on precise needs, priorities and success conditions.
By Antonio Daif· Published on 17 October 2026
1. Explain why the project is being launched
Present current difficulties and desired outcomes.
“Reduce adjustments needed for monthly reporting” is more actionable than “modernise finance”.
Specify project boundaries: processes included, entities covered, user groups and any later deployments.
2. Describe expected uses
For each process, explain:
- Who prepares data.
- Who checks and approves it.
- At what level it is entered.
- Which calculations are necessary.
- Which outputs must be produced.
- How corrections are managed.
A requirement such as “manage forecasts” remains ambiguous. Describing the transition from actuals to an updated forecast makes proposals easier to assess.
3. Document data and interfaces
Identify source applications, reference data, volumes and feed frequencies.
Specify mapping rules, expected checks and error handling. Flag known issues so candidates can explain their assumptions.
The project should clarify where accounts, entities, analytical dimensions and business rules are defined.
4. Prioritise requirements
Assign each requirement an identifier and priority:
- Essential for the first deployment.
- Important but deferrable.
- Optional.
Request a structured response: standard feature, configuration, additional development or unmet need. Ask for associated costs and limitations.
5. Prepare evaluation while drafting
Include demonstration scenarios and acceptance criteria.
For example: load actuals, identify rejected data, correct it, update a forecast and explain a variance.
Also include expectations for access rights, performance, administration, documentation and knowledge transfer.
6. Make proposals comparable
Ask candidates to separate licences, implementation, migration, training, maintenance and options.
Each response should set out its scope, assumptions, exclusions and expected client-side resources.
The right outcome: a document that supports selection and can act as a reference throughout delivery.
Preparing a tender? Let’s structure your requirements and decision criteria.
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