Jennifer Toomey, Senior Director of Cloud Business Group at Oracle, wrote about Oracle’s accomplishment of having Oracle EPM Cloud being named a leader in two Gartner Magic Quadrants – the Magic Quadrant for Cloud Financial Close Solutions and the Magic Quadrant for Cloud Financial Planning and Analysis Solutions.
Oracle is the only cloud provider positioned as a Leader in both Gartner Magic Quadrants related to enterprise performance management (EPM).
Oracle EPM Cloud’s Place in Two Gartner Magic Quadrants
Figure 1: Magic Quadrant for Cloud Financial Close Solutions
Figure 2: Magic Quadrant for Cloud Financial Planning and Analysis Solutions
These graphics were published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Oracle. 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.
Analyzing the Value of Oracle EPM Cloud
2019 marks the third consecutive year that Oracle has been named a Leader in both Magic Quadrants for EPM Cloud solutions. Oracle believes that this validates its approach to EPM, which is to focus on a complete and integrated suite that offers both breadth and depth of functionality.
Research from Oracle’s Value of EPM survey showed benefits that customers are gaining as a result of implementing Oracle EPM Cloud, including:
- 73 percent achieved more flexibility in reporting
- 71 percent achieved greater visibility across the close process
- 71 percent reported making fewer manual adjustments
- 68 percent streamlined their close processes
- 44 percent saved time producing reports
- 20 percent reported taking less time to close the books
Oracle’s Value of EPM survey also showed that customers are looking to seamlessly connect their enterprise performance management processes. In addition, the survey showed that:
- 70 percent of respondents want closer integration between planning and ERP systems
- 72 percent think it’s valuable to share an EPM platform between financial planning and analysis (FP&A) and controller teams
- 71 percent agree that the financial close would be more effective if tax and finance worked from the same software
“The EPM Cloud market is maturing away from point solutions to effectively connect EPM business processes, improve business agility, and unlock the full value potential of EPM. We are seeing more organizations looking for an integrated EPM suite to connect their financial and operational planning with financial close and reporting processes. We are thrilled to be the only vendor acknowledged as a Leader by Gartner in both Magic Quadrant reports related to EPM.”
-Hari Sankar, Group Vice President, Product Management, Oracle
Oracle believes that Oracle EPM Cloud has been designed with these goals in mind. It is the only complete and connected EPM solution on a common platform that addresses financial and operational planning, consolidation and close, data management, reporting, and analysis. It also offers native integration with other Oracle Cloud applications, including Oracle ERP Cloud, Oracle SCM Cloud, Oracle HCM Cloud, and Oracle CX Cloud. With an integrated cloud suite across finance, supply chain, HR and customer experience—along with leading cloud infrastructure that includes Oracle Autonomous Database—Oracle helps customers to stay ahead of changing expectations, build adaptable organizations, and realize the potential of the latest innovations.
“We have spotted a new trend for ‘big stack’ core financial management vendors to integrate functionality for the FC [financial close]—and financial planning and analysis (FP&A)—more tightly into their offerings in order to support the office of finance. This trend may soon cause many application leaders to reconsider popular postmodern best-of-breed approaches and replace them with strategies favoring integrated single-vendor applications (see “Is Your Organization Ready to Move Away From a Postmodern Application Approach in Finance?”). We predict that, by 2023, 30 percent of organizations will use the financial consolidation capabilities, including accounting hubs, within cloud core financial management suites, which will reduce deployments of third-party tools.”
(Gartner Magic Quadrant for Cloud Financial Close Solutions, Robert Anderson, John Van Decker, Greg Leiter, 21 October 2019, p. 1.)
To learn more, download the 2019 Gartner Magic Quadrant for Cloud Financial Close Solutions report and check out the additional resources attached below.
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