The shift from on-premises software to cloud-based solutions has been under way for more than 10 years. Now Gartner has validated cloud as the preferred deployment model for corporate performance management (CPM) solutions.
How do we know this? On June 29th, Gartner published its 2017 Magic Quadrant reports for Strategic and Financial CPM, and included only cloud solutions.
And there’s good news here for Host Analytics and our customers. As a result of our hard work over the past 10 years in developing our platform and making customers successful, Host Analytics was recognized as a leader in both Gartner Cloud CPM Magic Quadrant reports.
The Shift to the Cloud
In its commentary about the market, Gartner highlighted that this first set of Magic Quadrant reports for Cloud Financial and Strategic CPM reflects the shift from traditional on-premises deployments to cloud solutions. They also commented that, while many vendors have moved their CPM solutions to the cloud, legacy on-premises solutions are receiving less investment and will achieve end-of-life status within 5 to 8 years.
And check out these Strategic Planning Assumptions from the Cloud FCPM 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 for financial consolidation and reporting, to replace legacy on-premises systems and manual processes.
- By 2020, 60% of the world's top 1,000 companies will be using cloud financial corporate performance management capabilities for financial consolidation and reporting.
In addition, Gartner said, “Cloud-based solution and vendor topics such as the timing of cloud conversions, cloud vendor product roadmaps and cloud product selection now comprise nearly all of Gartner's client advisory conversations.”
What does this mean? What Gartner is saying is that the Financial and Strategic CPM markets are shifting from legacy on-premises offerings to cloud solutions. Why? Because Finance leaders are seizing the opportunity to shorten time to value (TTV) for new applications, reduce application support costs, and increase flexibility.
Companies are finding that cloud solutions are typically easier to use and maintain than legacy, on-premises offerings. As a result of this market shift to the cloud, a “new world order” of leading vendors is emerging in the CPM market.
The Making of a Leader
The founders of Host Analytics saw the shift to the cloud and SaaS solutions over 10 years ago and decided to focus the company on delivering EPM solutions in this manner. We’ve been steadily adding functionality, building our presence in the market, and adding customers since 2008. As a result, we now have over 600 customers and 40,000+ users in 90 countries around the world. And our obsession with customer success has led to a retention rate of over 95%.
Based on Gartner’s comments in the reports, we believe Host Analytics was recognized as a leader in both Financial and Strategic CPM based on the following:
- Our maturity in the cloud CPM market
- Our high customer satisfaction ratings
- The ability of our products and services teams to support more complex use cases
Being recognized as a leader in both Gartner Cloud CPM MQs means Host Analytics has market-leading capabilities across a broader range of requirements like no other pure-play cloud vendor in the market:
- Strategic CPM – budgeting, planning, forecasting, modeling, management reporting
- Financial CPM – financial close, consolidation, reporting, disclosure management
Even if your immediate needs may not initially span both areas, selecting a vendor with market-leading capabilities across Strategic and Financial CPM means you won’t quickly outgrow the solution – you can evolve and expand your usage of the platform as your business needs become broader or more complex.
Being recognized as a leader also means that Host Analytics is rated highly by Gartner on our ability to execute successfully in the market. Gartner’s criteria for evaluating “ability to execute” include financial viability, sales execution, marketing execution and responsiveness, and customer experience.
For additional perspectives on the Gartner Magic Quadrants for Cloud CPM and what it means to Host Analytics and our customers check out Host Analytics CEO Dave Kellogg’s recent blog post.
Other Recent Recognition
Being recognized as a leader in the market by Gartner is only the most recent accolade. In recent weeks, Host Analytics also earned leadership recognition and high marks in the Dresner Advisory Services 2017 “Wisdom of Crowds® Enterprise Planning Market Study.” And prior to that we were recognized as a leader in the Nucleus Research CPM Value Matrix, along with being named one of the “8 Hot Vendors of 2017” by Nucleus.
If you're interested in learning more, Host Analytics is pleased to offer our readers complementary copies of both the Gartner Cloud FCPM and SCPM Magic Quadrant reports. Please follow this link to download a copy.