Why Niche Vendors are driving the Future of Finance
The days of the monolithic CPM vendors are numbered according to an article on how the CPM landscape is changing, written by Finance industry expert Gary Simon – CEO of FSN & Leader of the Modern Finance Forum for CFOs following an interview with Prophix CEO, Paul Barber. Why? Because users are looking for solutions that provide the agile and functional capability that they require, something large corporate packages cannot always offer. Instead they are turning to nimble, niche vendors over larger solution providers who are not able to be flexible enough to keep up with what people want to do.
This is particularly the case in the mid-market where specialist vendors that offer the functionality and ease-of-use the mid-market demands. The article goes on to highlight how customers should be able to evolve with their CPM solution; perhaps initially choosing CPM for budgeting needs for example, but then growing into utilising the full spectrum of capabilities to truly automate finance operations and enable more effective decision-making.
Although cloud has been a hot topic in the software market; the article discusses why the future for CPM lies in a hybrid cloud approach where for certain functions/job roles cloud-based access is advantageous but for others on-premise is the best approach with companies moving smoothly between the two environments.
Read the full article from Gary Simon and discover the trends and shifts about to shake out the CPM industry.
For more articles from Gary Simon on how the future of finance is evolving – click here.