Gartner Magic Quadrant For Cloud Financial Planning And Analysis Solutions
As businesses continue to evolve and expand, financial planning and analysis (FP&A) teams are becoming increasingly important. FP&A professionals need to be able to provide accurate and timely financial information to keep their companies on track. As a result, there is a growing need for cloud-based FP&A solutions that can streamline processes and provide real-time analytics. In this article, we will be discussing the Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions.
What is the Gartner Magic Quadrant?
The Gartner Magic Quadrant is a research methodology used to evaluate and analyze vendors in a specific technology market. The Magic Quadrant provides a graphical representation of a market’s direction, maturity, and participants. Vendors are evaluated based on their ability to execute and their completeness of vision.
What are Cloud Financial Planning and Analysis Solutions?
Cloud Financial Planning and Analysis Solutions are cloud-based software platforms that allow FP&A teams to analyze, forecast, and report financial data. These platforms provide real-time analytics, collaboration tools, and flexible reporting capabilities. They can help organizations improve financial management, increase efficiency, and reduce costs.
The Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions
The Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions evaluates vendors who offer cloud-based solutions for FP&A. In 2021, Gartner evaluated 13 vendors on their ability to execute and their completeness of vision.
Leaders
Leaders are vendors that have a strong ability to execute and a clear vision for their product. In the 2021 Magic Quadrant, three vendors were named Leaders:
- Adaptive Insights
- Anaplan
- Oracle
Visionaries
Visionaries are vendors that have a clear vision for their product but may have some challenges with executing. In the 2021 Magic Quadrant, two vendors were named Visionaries:
- OneStream
- Planful
Niche Players
Niche Players are vendors that may have a limited ability to execute and a less developed product vision. In the 2021 Magic Quadrant, six vendors were named Niche Players:
- Longview
- CCH Tagetik
- Prophix
- SAP
- Unit4
- Vena
Challengers
Challengers are vendors that have a strong ability to execute but may have a less developed product vision. In the 2021 Magic Quadrant, two vendors were named Challengers:
- Workday
- Zoho
Conclusion
The Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions is a valuable resource that can help organizations evaluate vendors and select the right solution for their needs. The 2021 Magic Quadrant includes a diverse group of vendors with varying strengths and weaknesses. FP&A professionals should carefully evaluate each vendor’s ability to execute and their completeness of vision before selecting a solution.