Recognition follows positioning in the Leaders Quadrant in Magic Quadrant for Cloud Financial Close Solutions
October 08, 2020 12:23 PM Eastern Daylight Time
ROCHESTER, Michigan --(BUSINESS WIRE)--OneStream Software, a leader in corporate performance management (CPM) solutions for mid-sized to very large enterprises, today announced it has been named a Leader in Gartner’s 2020 Magic Quadrant for Cloud Financial Planning and Analysis (FP&A) Solutions. OneStream was also recognized as a Leader in the 2019 Gartner Magic Quadrant for Cloud Financial Close Solutions.
As finance leaders look to implement cloud planning solutions that support agile financial planning, budgeting, modeling and performance reporting, Gartner evaluated 12 cloud FP&A solution providers based on their ability to execute and completeness of vision and placed OneStream in the Leaders Quadrant.
“In a year that has forced the office of finance to undergo rapid and vast changes to its responsibilities and rapidly respond to economic disruption, we are seeing increased demand for our unified, and extensible platform for planning, reporting and analytics,” said Tom Shea, CEO of OneStream Software. “We believe OneStream's positioning as a Leader in this year's Gartner Magic Quadrant for Cloud FP&A Solutions reflects the power of our platform, our commitment to 100% customer success, and our unique ability to deliver new solutions to address the increasing demands on the Office of Finance even in very complex and dynamic organizations.”
The news comes in the middle of a year in which OneStream has seen increasing demand and rapid growth. In addition to a 75 percent increase in Annual Recurring Revenue (ARR), the company announced in July it had achieved a 40 percent year-over-year growth in customer acquisitions and a 67 percent increase in its global workforce.
“Many organizations continue to struggle on with spreadsheets — or cling to on-premises FP&A solutions. However, almost all migrations and new FP&A deployments have shifted to the cloud” wrote John van Decker, Greg Leiter, Robert Anderson of Gartner. “Cloud FP&A solutions offer faster time to value and are easier to design, implement, use and maintain... They also enable broader adoption by offering extensive self-service analytics. These analytics help finance users address modern demands and requirements, such as for rolling forecasts and driver-based planning.”
To access a complimentary copy of the full report, click here: https://info.onestreamsoftware.com/gartner-magic-quadrant-for-cloud-fpa-2020
Sources: Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions, Robert Anderson, John Van Decker and Greg Leiter, 06 October 2020. Magic Quadrant for Cloud Financial Close, Robert Anderson, John Van Decker, Greg Leiter, 21 October 2019.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About OneStream Software
OneStream Software provides a market-leading CPM solution that unifies and simplifies financial consolidation, planning, reporting, analytics and financial data quality for sophisticated organizations. Deployed via the cloud or on-premise, OneStream’s unified platform enables organizations to modernize Finance, replace multiple legacy applications and reduce the total cost of ownership of financial systems. OneStream unleashes Finance teams to spend less time on data integration and system maintenance – and more time focusing on driving business performance.
OneStream is an independent software company backed by private equity investor KKR. With over 550 customers, 175 partners and over 500 employees our primary mission is to deliver 100% customer success. OneStream was named to the 2019 Inc. 5000 and Deloitte 2019 Technology Fast 500 lists of the fastest-growing companies in North America. To learn more, visit www.onestreamsoftware.com or follow our blog at http://blog.onestreamsoftware.com.