IDC Corporate publishes their report 2018 IDC MarketScape: Worldwide Enterprise Performance Management Analytic Applications 2018 Vendor Assessment, where Planful is named a Major Player.
The First EPM Report from IDC
In our recent press release, CEO of Planful Dave Kellogg was quoted “This first-ever analysis of the EPM space by IDC is reflective of the market potential and highlights how innovation, integration and customer support will take our industry to new heights.”
International Data Corporation (IDC) looked at a total of 12 vendors in the enterprise performance management (EPM) software market, with a focus on planning, budgeting, and forecasting functionality. To be included in the assessment vendors had to meet the criteria of being: a cloud-based EPM offering; the capabilities to do financial close and consolidation; a horizontal EPM offering (in addition to any vertical solutions); and a sizable North American presence as mentioned in their recent press release.
“Enterprise performance management has been around for a long time, but in many cases, business users have continued to use spreadsheets to circumvent the complexities of working with heavy, legacy EPM applications. Modern EPM is a game changer, putting insights at the hands of the business user and allowing enterprises to make better and more strategic decisions in a much more timely manner,” said Chandana Gopal, research manager, Analytics and Information Management at IDC.
One key factor IDC noted in considering an EPM system is its ability to integrate with critical source systems. The report added, “For buyers that are interested in having real-time integration with operational enterprise applications, vendors that have technology partnerships with those applications through connectors or pre-built integrations will be easier to implement and faster to deploy.” Planful makes it easy for organizations to connect their entire finance ecosystem; ensuring customers have the most updated information at the point and time of need. Pre-built connectors include Oracle NetSuite, Sage, Xactly, Workiva, Intacct and more.
IDC also found that strategic planning, visibility, governance, and collaboration were listed by EPM buyers as the top benefits of using an EPM solution. Cloud EPM is seeing rapid adoption and is growing significantly faster than on-premise EPM. Lastly, the EPM market innovating with the inclusion of advanced analytics features in the next 12-18 months. (IDC Press Release)
How did Planful do in the IDC assessment?
Planful is a Major Player – which is the highest placement achieved by any company in the assessment. “We are pleased to be recognized for our leadership, and we will continue to innovate, make our customers more successful, and create more value for the industry,” said Dave Kellogg.
This year Planful delivered 175 new capabilities to customers and will continue the beat of innovation in coming releases. As IDC mentioned, strategic planning, visibility, governance, and collaboration are what EPM buyers are looking for in their EPM solution. Features such as Planful MyPlan, Reporting, Dashboards, and Planful Modeling are all new innovations that are delivering to customers that meet the needs highlighted by IDC.
Want to get all the details of the report – download your complimentary copy of the report.