Nucleus Research, a leading IT market research firm, delivered its annual report revealing the key trends and evaluating vendors in the corporate performance management (CPM) market. In this year’s CPM Value Matrix Report, the company has highlighted that demand for CPM solutions has reached fever pitch. The report explains how the uncertainty caused by the pandemic, combined with the need to work from home, has forced many organisations to move from spreadsheets and email to purpose-built CPM platforms.
In the report, analyst Isaac Gould emphasises that, with unprecedented demand and supply fluctuations, companies can no longer solely utilise historical data to develop annual budgets and forecasts. The need to unify planning and accurately gauge performance across all individuals, teams, and departments for organisational agility in this new normal is at an all-time high. Now more than ever, organisations are turning to CPM solutions to orchestrate their financial activities.
Additional market trends highlighted in the report include:
- Forecasting is in focus. Vendors are focusing on enhancing their planning and forecasting capabilities as users leverage the financial planning and analysis (FP&A) tools to forecast more frequently across shorter and longer time horizons at a greater degree of granularity.
- Unified planning is critical. As the pandemic places greater pressure across organisations, CPM solutions are being used to unify all organisational data for holistic planning across finance, HR, supply chain, sales, and marketing.
- AI and ML are going mainstream. Artificial Intelligence (AI) and Machine Learning (ML) applications are beginning to deliver tangible results. Users can supplement annual plans with predictive forecasts to support strategic decision making.
- Usability is more important than ever. CPM vendors have invested heavily in their products’ usability to make their tools accessible from a home setting and promote collaboration.
- Unified platforms rule. Leading vendors are now delivering the breadth and depth of CPM capabilities through a platform offering, providing a seamless user experience across consolidation, reporting, planning and forecasting.
With those trends as the backdrop, Nucleus evaluated CPM vendors based on the usability and functionality of their solutions, as well as the value that customers realised from each product’s capabilities. Their findings are based on briefings and demonstrations provided by CPM vendors, as well as interviews with customers of each vendor.
For the fourth year running, OneStream Software was recognised as a market leader in the report.
“OneStream Software is a leader in the 2021 CPM Value Matrix,” Nucleus Research has stated. “OneStream provides a platform that enables organisations to unify all their financial processes. Customers give high marks to OneStream’s integration capabilities with large datasets and their existing software ecosystems.”
The report goes on to state: “OneStream enables large organisations to simplify their financial and accounting processes by streamlining tedious and manual tasks and replacing multiple systems with a single platform. The platform’s wide range of specialised capabilities and flexibility means users can implement solutions that best match their business needs, which leads to high usability scores.”
We are proud to once again be recognised as a leader in the CPM Value Matrix. OneStream Software’s positioning as having the highest-ranked functionality among the leaders in the report, whilst also being ranked among the highest in usability, is a testament to the power and value of its unified platform.