When prospective software buyers are asked about the sources they draw from when researching and deciding on a solution, they invariably cite industry analysts at the top of the list. Gartner is the biggest, and perhaps best known of these industry analysts. Their audience, and therefore their research focus, is primarily based on the CIO/IT practices within large enterprise organizations. They have also been covering the CPM space for several years now.
We believe Gartner is perhaps best known for its use of Hype Cycles and Magic Quadrants to visualize their market analysis results. In the past, Prophix has been included in Gartner’s past Corporate Performance suites, though this analysis was revamped in 2017 to focus only on Cloud CPM vendors. This divided the CPM space into two separate areas – Financial CPM and Strategic CPM. Prophix elected not to participate in 2017 because it had only recently introduced its cloud offering.
This year, Gartner has again renamed this space and now refers to it as FP&A (Financial Planning and Analysis). Prophix is included in the 2018 Cloud Financial Planning & Analysis Magic Solution. Most significantly, for the first time ever, Prophix is positioned in the “Visionaries” Quadrant.
In 2018, Gartner also combined the MQ with an associated Critical Capabilities report. We believe that Prophix received high scores for analytics, ease-of-use and maintenance, financial budgets and plans, and integrated financial planning/modeling in the report. It is our point of view that the capabilities are more critical for smaller organizations and for business units in larger companies.
The report goes on to say that Prophix scored among the top three in the small and midsize use cases, as well as for business units, although Prophix is more often used in the former two. This year’s report serves to highlight that Prophix is an important, proven, and experienced vendor in the Cloud FP&A space.
To view the full Garner report, click here
Gartner, Critical Capabilities for Cloud Financial Planning and Analysis Solutions, Christopher Iervolino, John Van Decker, 07 August 2018
Gartner, Magic Quadrant for Cloud Financial Planning and Analysis Solutions, John Van Decker, Christopher Iervolino, 24 July 2018
Gartner, Magic Quadrant for Corporate Performance Management Suites, John Van Decker, Christopher Iervolino, 2 April 2015
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