When it comes to identifying and evaluating corporate performance management (CPM) software vendors to address specific customer requirements, many organizations rely on IT industry analyst reports as a trusted source. The most well-known among the IT industry analyst firms is Gartner and their Magic Quadrant and Critical Capabilities reports.
While the Gartner Magic Quadrant reports cover a broad range of vendors in the market and position them as Leaders, Visionaries, Challengers or Niche – they don’t differentiate the vendors based on their fit for different sized companies, or specific use cases. That’s where the Gartner Critical Capabilities reports play a valuable role.
Written by the same analysts and research process as for the MQs, the Critical Capabilities reports provide numeric scoring of vendors across several use cases. These reports, in conjunction with the Gartner Magic Quadrants and Gartner Peer Insights ratings, are recommended by Gartner as the path to identifying the key vendors that are best suited to addressing the specific requirements of a client.
Gartner Critical Capabilities for Cloud FP&A Solutions
Coming on the heels of the 2019 Gartner Magic Quadrant for Cloud Financial Planning and Analysis (FP&A) solutions1, Gartner recently published their 2019 Critical Capabilities Report for Cloud FP&A solutions2. In the report, Gartner evaluated 14 vendors across 9 critical capabilities:
These critical capabilities were then weighted across six use cases and the vendors are scored based on this rating and weighting system. The vendor scores are determined by the analysts based on customer surveys, combined with the analysts own knowledge and view of the vendors.
The six use cases by which cloud FP&A solutions were rated in the report include:
You can see how this methodology makes sense, given that customer requirements vary based on the size and complexity of the organization, and the region(s) of the world in which they operate.
OneStream Rankings in Critical Capabilities for Cloud FP&A Solutions
This was the 2nd year OneStream was evaluated in the Magic Quadrant for Cloud FP&A Solutions as well as the related Critical Capabilities report. And while OneStream was named as a “rapidly-progressing” Visionary in the Magic Quadrant – the Critical Capabilities report paints a clearer picture of where OneStream really fits in the market.
Here’s how OneStream Software was scored:
We believe OneStream’s high scores across these use cases is based on the top-quartile scores we received for complex financial budgets and plans, ease of use and maintenance, application governance, and analytics. These capabilities are all more critical for larger, and more sophisticated organizations.
Based on the scoring across these use cases, OneStream should be considered as a higher priority for upper midsize and larger organizations with extensive EMEA and/or global operations.
And recognizing OneStream’s strong capabilities in financial consolidation, close and reporting OneStream should be considered for organizations that also have complex financial close needs. In addition, OneStream is well-suited for business units of large organizations with complex requirements.
As evidenced by our rapid growth, a growing number of enterprises worldwide are leveraging OneStream’s cloud platform for financial planning and analysis. By unifying financial planning, consolidation and reporting in a single platform, OneStream customers are eliminating multiple point solutions and realizing significant savings in time and cost. In addition to being recognized as a Visionary in the Magic Quadrant for Cloud FP&A Solutions, earlier this year, OneStream was also recognized as a Gartner Peer Insights Customers’ Choice for Cloud FP&A Solutions.
So before you create your organization’s short list for cloud FP&A solutions, download the Gartner Critical Capabilities report, and check out Gartner Peer Insights to see how OneStream stacks up against your requirements. Then contact OneStream and we’ll be happy to demonstrate how we can transform your planning, budgeting and forecasting processes, help increase alignment between finance and operations and help your team get back to business!
1 Gartner Magic Quadrants for Cloud Financial Planning and Analysis Solutions, Bob Anderson, John Van Decker and Greg Leiter, 8 August 2019
2 Gartner Critical Capabilities for Cloud Financial Planning and Analysis Solutions, Bob Anderson, John Van Decker and Greg Leiter, 27 August 2019
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.