Why Analyst Reports Are Key to Choosing a CPM Vendor

Unpacking BPM Partners 2022 Vendor Landscape Matrix

Analyst reports are a great starting point to evaluate the pros and cons of different Finance solutions.

They provide a comprehensive overview of the available solutions with input from customers and subject-matter experts.

BPM Partners’ annual Vendor Landscape Matrix report is one such report that provides a credible and unbiased perspective. In their 2022 report, we were humbled to see Prophix maintained its strong ranking from last year.

Let’s dive into the rankings so you can start evaluating the best solution for your business.

Trends in Finance

BPM Partners focuses exclusively on the business performance management (BPM) space, which includes enterprise and corporate performance management (CPM). This focus allows them to bring a depth of experience to their analysis, summarize various solution providers’ capabilities, and identify broader trends in the market.

In their 2022 report, BPM outlines that “the demand for performance management systems has continued to grow.” Many organizations realized the importance of “finance transformation” to address the impacts of COVID, inflation, geo-political uncertainty, and related supply chain issues. This required CFOs and their teams to “transition from static Finance-focused planning and reporting to dynamic and comprehensive planning, consolidation, reporting and analysis.”

It’s clear that CPM solutions have become more valuable than ever to address today’s finance challenges – and analyst reports provide great insight on what makes a great CPM partner.

How We Rank

This year’s report positions Prophix as Excellent in customer satisfaction and Dominant in market status – landing us in the upper-right of BPM’s matrix (see below). As part of a “vibrant” mid-market space, we were compared directly against deFacto, Fluence, IBM, Planful, Talentia, and Vena.

Prophix is unique and known for its singular focus on the CPM mid-market segment. BPM points out several core strengths for Prophix, including:

BPM analyst Craig Schiff also mentions our strong reputation in the market for customer satisfaction.

How We Compare

BPM ranked each vendor in 15 attributes by interviewing over 30 of our customers. Prophix was above the industry average in all capabilities except financial consolidation – because we’ve only recently added these capabilities through our acquisition of Sigma Conso earlier this year. (So, yet to be reflected in the data.)

Compared to three other vendors in the mid-market (Vena, Planful, and Talentia), Prophix received the top score in 11 categories. Prophix scored higher than Vena in all 15 capabilities and above Planful and Talentia in 12 of 15. We were also the only solution to rank Excellent in customer satisfaction and Dominant in market status.

What’s Next

CPM solutions are here to stay. If you’re looking for an easy-to-use solution with strong budgeting, reporting, and planning capabilities, BPM Partners puts Prophix at the front of the pack. We’re confident we will maintain our ranking on future BPM Vendor Landscape Matrix reports thanks to our continued investment in global consolidations, international growth, and our innovative product roadmap.

Learn more about our ranking in BPM’s Vendor Landscape Matrix here.

Prophix

Your business is evolving. And the way you plan and report on your business should evolve too. Prophix helps mid-market companies achieve their goals more successfully with innovative, cloud-based Corporate Performance Management (CPM) software. With Prophix, finance leaders improve profitability and minimize risk by automating budgeting, forecasting and reporting and puts the focus back on what matters most – uncovering business opportunities. Prophix supports your future with AI innovation that flexes to meet your strategic realities, today and tomorrow. Over 1,500 global companies rely on Prophix to transform the way they work.

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