The year 2020 will be remembered for a lot of things – the global pandemic, economic slowdown, working from home, disputed election results and more. This year may also be remembered as the tipping point for digital transformation in many organizations. The economic and business disruption that accompanied the COVID-19 pandemic became a wakeup call to modernize finance systems and processes for many organizations that were relying on spreadsheets and legacy systems for financial planning, reporting and analysis.
For OneStream, 2020 has been a year of helping our customers survive and thrive in the face of massive disruption, while receiving high accolades for our company and solution by leading IT industry analysts. The most recent achievement is our leadership in the 2020 IDC MarketScape for Cloud Enterprise Performance Management (EPM) Software for Planning, Budgeting and Forecasting Software. Read on to learn about the findings of the report and why OneStream was recognized as a leader.
IDC’s View of the EPM Market
This biennial IDC study represents an assessment of enterprise performance management (EPM) software vendors through the IDC MarketScape methodology, at a worldwide level. This assessment focuses mainly on the planning, budgeting, and forecasting capabilities of the vendors.
"Enterprise performance management is a critical tool for executive decision making as it allows enterprises to plan and model different scenarios, which is a critical capability in this volatile business environment," according to Chandana Gopal, research director, Analytics and Information Management at IDC. "Modern EPM allows users to plan across business functions and predict the impact of business changes and also allows enterprises to make strategic data-driven decisions."
OneStream Software Recognized as a Leader
Based on the assessment of IDC’s analysts, OneStream is positioned in the Leaders category in the 2020 IDC MarketScape for cloud enterprise performance management software for planning, budgeting, and forecasting.
In their commentary on OneStream, IDC highlighted how OneStream is an EPM vendor that offers an extensible platform that can be tailored to the customer's needs. They also cited how the OneStream platform allows enterprises to choose which solution they want to deploy and is extensible in a seamless manner through the OneStream XF MarketPlace of more than 50 solutions that customers can take advantage of for functions such as account reconciliations, tax provisioning, operational planning, and more.
Other comments of note included the following:
- The user interface is modern and appealing and allows users to see exactly where they are in their workflow.
- Customers cited business rules are easy to define in OneStream and that the platform is easy to maintain and upgrade by power users if set up appropriately.
- Customers emphasized that customer support was very effective and ensures that issues were resolved promptly and that they were pleased with the value they were realizing from using OneStream.
A Year of Recognition
This recognition by IDC follows on the heels of several other IT industry analyst firms who have recognized OneStream’s success and market leadership, including:
- BARC The Planning Survey - Top Ranked in 38 Categories
- BPM Partners Pulse Awards - Top Ratings in 7 Categories
- Dresner EPM Market Survey -Leader in Customer Experience and Vendor Credibility Models
- Gartner Magic Quadrants - Leader in both Cloud Financial Close and Cloud FP&A
- Gartner Peer Insights - Customers’ Choice in Cloud FP&A, Cloud Financial Close
- Nucleus Research CPM Value Matrix – Leader
All of this recognition is further validation of our mission of delivering 100 percent customer success with an extensible platform that unifies and streamlines critical finance processes. “In today’s volatile economic environment Finance teams have to find ways to be more agile,” said Tom Shea, CEO of OneStream Software. “The fact that our platform was specifically designed to unify many traditional finance processes such as budgeting, planning, financial close, consolidation and reporting as well as deliver the financial and operational insights needed for agile decision, making helps our customers lead at speed.”
Download the report to read IDC’s advice for technology buyers and learn more about why OneStream was named a leader in the MarketScape for Cloud EPM Solution. And contact OneStream if your organization is ready to lead at speed and make the leap from spreadsheets and legacy EPM software that may be hindering your agility.