By Craig Colby July 19, 2017
So, you're looking to replace your legacy CPM system solution but you are not sure where to begin. Gartner is a great place to start. As a trusted source in industry-specific research Gartner prides themselves on their ability to provide you the research on what you need to know, what you need to do, where you need to look and who you should be paying attention to. And with so many corporate performance management choices out there finding the right solution or "ripping and replacing" your existing one can be a bit daunting if not downright overwhelming.
Last month Gartner released their annual Magic Quadrant report on Financial Corporate Performance Management (FCPM). Gartner defines the components of an FCPM solution as supporting financial accounting processes to achieve a corporate financial close, including financial reporting and consolidation, and enhanced financial control and automation (EFCA). The FCPM report includes six key pillars or components – financial consolidation, financial reporting, management reporting, costing, reconciliations/close management, intercompany transactions and disclosure management (including XBRL tagging).
Gartner positioned OneStream Software as a Visionary in the FCPM report and we are honored to have a place in their interactive Magic Quadrant. Look just a little bit closer and you will find that OneStream was placed farthest to the right for completeness of vision in the visionary quadrant and also the only vendor in the report to maintain 5-star reviews through Gartner's Peer Insights. If you are not familiar with Gartner Peer Insights, it is their platform for ratings and reviews of enterprise technology solutions by end-user professionals for end-user professionals. The rating process is anonymous and, unlike Yelp, fully vetted and not open to just anyone. Don't get me wrong I love Yelp but when Susie from Texas can leave a 1-star review because her seat was uncomfortable and the view out of her window could have been better I have to question the reviewer.
And what does it mean that we were ranked farthest to the right for completeness of vision in the visionary quadrant? According to their definition - completeness of vision reflects a vendor's innovation, whether the vendor drives or follows the market, and whether the vendor's view of how the market will develop matches Gartner's perspective. We definitely see ourselves as drivers and not just market followers. If you want proof, check out our XF MarketPlace, a cutting-edge solution center that offers free additional solutions, templates or content that quickly integrate with our existing platform. Solutions include Account Reconciliations, People Planning and recently revealed at our Splash user conference - Machine Learning 123, for better predictive analytics. All solutions are downloadable and allow our customers to continue to extract value of their investment well beyond their initial purchase.
Our single, unified Corporate Performance Management software platform simplifies processes to deliver financial consolidation and reporting, planning and operational analytics for sophisticated organizations and our customers enjoy the multiple benefits of owning a single, agile CPM system that is capable of adapting to business changes quickly and easily. In addition to our placement on the Magic Quadrant and our 5-star Peer Insight Reviews we also have a variety of customer testimonials from various industries who speak of our capabilities, excellent product support and thorough implementation process.
We are thrilled to be named a Visionary in Gartner's FCPM report and as the number of our customers continue to grow we expect to expand into Gartner's Leadership quadrant.
If you are interested in reading the full Gartner report we are happy to provide you with a complimentary copy.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
