New Names – Same Market Segments
In prior years, the two market segments covered in the recently-released Gartner Magic Quadrants had been labeled as Cloud Financial Corporate Performance Management (CPM) and Cloud Strategic CPM Solutions. But Gartner began messaging to the market late in 2017 that they would be dropping the CPM category name and referring to the two market segments as Cloud Financial Close and Cloud FP&A Solutions. While we don’t necessarily agree with this naming decision, we continue to participate in the research as a Gartner client, and we will continue to use the CPM term to describe the combination of these two market segments.
Here’s a summary of what Gartner includes in each of the new market segments:
- Gartner describes Cloud Financial Close Solutions (formerly Cloud FCPM) as including financial consolidation, financial reporting, reconciliation management, close management, and disclosure management.
- Gartner describes Cloud Financial Planning and Analysis Solutions (formerly Cloud SCPM) as including financial budgeting and planning, integrated financial planning, forecasting and modeling, management and performance reporting.
The magic quadrant reports cover key market trends, software evaluation criteria, and Gartner’s competitive positioning of various vendors based on the completeness of their vision, combined with their ability to execute on that vision.
OneStream Recognized as a Visionary in Both Gartner MQs
Based on the completeness of our vision and execution in the market, OneStream was recognized as a Visionary in both 2018 Gartner Magic Quadrants.
In the Magic Quadrant for Cloud Financial Close Solutions1, we believe Gartner named OneStream as a Visionary based on the quality of our customer references, our rapid growth, ability to support the needs of larger enterprises, and the robustness of our account reconciliations solution.
In the Magic Quadrant for Cloud Financial Planning and Analysis Solutions2, we believe OneStream was named as a Visionary based on the high recommend score from our customers, perfect reference score for sales experience, and our ability to meet the needs of large organizations with complex enterprise-wide applications.
One thing to note is that these magic quadrants are “cloud-only.” That means only cloud customers and cloud subscription revenue are considered. While OneStream offers cloud, hosted and on-premise deployment options, cloud delivery and subscriptions are an important and growing portion of our business. As a result, we meet the criteria to be included in both reports and are positioned as a viable solution for medium to large enterprises.
OneStream is proud of our recognition as a visionary in both Gartner Magic Quadrant reports and we are grateful to our customers who participated in the Gartner survey for their candid feedback. To see detailed customer reviews of OneStream, visit the Gartner Peer Insights page and search on OneStream Software.
Our recognition in both reports is strong validation of our strategy to provide a complete and unified SmartCPMTM platform and solution marketplace that addresses the financial consolidation, reporting, planning, analysis and data quality needs of medium to large enterprises globally.
For those who want to learn more, OneStream is pleased to offer complimentary copies of the Gartner Magic Quadrant Reports for Cloud Financial Close and Cloud Financial Planning and Analysis Solutions.
References and disclaimer:
1Gartner Magic Quadrant for Cloud Financial Close Solutions, John E. Van Decker, Christopher Iervolino, 24 July 2018
2Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions, Christopher Iervolino, John E. Van Decker, 24 July 2018
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. 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.
John O’Rourke is Vice President of Product Marketing at OneStream Software. With a background in accounting and finance, John has over 30 years of experience in the software industry, including 20 years of experience in product marketing at Hyperion Solutions, Oracle and Host Analytics. He has worked with many customers and partners on financial reporting and planning initiatives and has spoken and written on many topics in corporate performance management. John has also held positions in strategic marketing and product marketing at Dun & Bradstreet Software, Kenan Systems and Decisyon.