Why Analyst Reports Are Key to Choosing a CPM Vendor
Prophix
Jul 12, 2022, 2:25:00 AM
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:- Ease of Use
- Low Total Cost of Ownership
- Product Flexibility
- Integrated Planning
- Performance/Stability