November 18, 2020 09:00 AM Eastern Standard Time
ROCHESTER, Mich.--(BUSINESS WIRE)--OneStream Software, a leader in corporate performance management (CPM) solutions for mid-sized to very large enterprises, announced today it has been positioned in the Leaders Category in the 2020 IDC MarketScape for Cloud Enterprise Performance Management (EPM) Software for Planning, Budgeting, and Forecasting. OneStream is recognized for its comprehensive and configurable platform and XF Marketplace, which offers more than 50 solutions that can be quickly configured and deployed by the company’s rapidly growing customer base to address additional requirements without adding complexity.
The report highlights OneStream’s significant growth and success in the EPM market with several new large enterprise accounts, which in Q3 alone included the addition of 5 customers each generating over $1M in Annual Recurring Revenue (ARR). According to the report, “OneStream offers a lot of flexibility with deployment options and pricing to suit the needs of customers. The user interface is modern and appealing and allows users to see exactly where they are in their workflow.”
"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.”
This recognition builds on the impressive momentum OneStream has achieved this year in the face of a global pandemic, including adding 60 new customers in Q3 and achieving 160 percent year-over-year growth in sales for the quarter.
“This recognition as a Leader in the 2020 IDC MarketScape for Cloud EPM Software is further validation of our mission of delivering 100 percent customer success with an extensible platform that unifies and streamlines critical finance processes,” said Tom Shea, CEO of OneStream Software. “In today’s volatile economic environment Finance teams have to find ways be more agile. 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.”
This IDC MarketScape study assesses global enterprise performance management (EPM) software vendors in 2020 through the IDC MarketScape methodology. This evaluation discusses both quantitative and qualitative characteristics of EPM applications in the market, specifically the planning, budgeting, and forecasting tasks that are typically conducted in support of the finance function.
IDC MarketScape criteria selection, weightings, and vendor scores represent well-researched IDC judgment about the market and specific vendors. IDC analysts tailor the range of standard characteristics by which vendors are measured through structured discussions, surveys, and interviews with market leaders, participants, and end users. Market weightings are based on user interviews, buyer surveys, and the input of IDC experts in each market. IDC analysts base individual vendor scores, and ultimately vendor positions on the IDC MarketScape, on detailed surveys and interviews with the vendors, publicly available information, and end-user experiences in an effort to provide an accurate and consistent assessment of each vendor's characteristics, behavior, and capability.
To access a complimentary copy of the report excerpt, click here: https://info.onestreamsoftware.com/idc-epm-marketscape-2020
IDC MarketScape: Worldwide Cloud Enterprise Performance Management Software for Planning, Budgeting, and Forecasting 2020 Vendor Assessment" by Chandana Gopal, November 2020, IDC #US46953520
About OneStream Software
OneStream Software provides a market-leading intelligent finance platform that reduces the complexity of financial operations. OneStream unleashes the power of finance by unifying corporate performance management (CPM) processes such as planning, financial close & consolidation, reporting and analytics through a single, extensible solution. We empower the enterprise with financial and operational insights to support faster and more informed decision-making. All in a cloud platform designed to continually evolve and scale with your organization.
OneStream is an independent software company backed by private equity investor KKR. With over 600 customers, 200 partners and over 600 employees our primary mission is to deliver 100% customer success.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.