OneStream Software Named a Visionary on Gartner’s Magic Quadrant for Cloud Financial Corporate Performance Management (FCPM)

OneStream Software has attained Visionary status in Gartner’s new Magic Quadrant.

The report, released June 2017, cites OneStream’s strong position for innovation and its ability to use its cloud SaaS platform in multiple areas of FCPM (and SCPM). In addition, reference customers for OneStream Software scored it above average for its ability to meet their needs.

Magic quadrant

Gartner goes on to list the following as OneStream’s strengths:

  • functionally robust solution for financial reporting and consolidation
  • ability to compete effectively against much larger vendors
  • implementation by large enterprises
  • growing rapidly with strong mind share among finance professionals
  • good at targeting large organizations that are struggling with complex legacy, on-premises financial consolidation implementations
  • reconciliation management capabilities allow displacement some implementations of EFCA vendors
  • platform can be extended into multiple areas of CPM

This Magic Quadrant presents a global view of the primary vendors in the cloud FCPM market as that market shifts from mature on-premises offerings to cloud solutions. Finance application leaders seek improvements in financial close capabilities, enhanced cost control and efficiencies, greater application flexibility and shorter time to value.  Gartner defines the FCPM market as including the following components:

  • Financial consolidation 
  • Financial reporting 
  • Management reporting, costing and forecasting 
  • Reconciliation and close management 
  • Intercompany transactions 
  • Disclosure management 

According to the Gartner report, through 2020, 80% of large organizations and 25% of midsize organizations in North America and Europe will use cloud financial corporate performance management capabilities. Also by 2020, 60% of the world’s top 1,000 companies will be using cloud financial corporate performance management capabilities.

Click here to read the full report on the Gartner site. (Login Required)

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