Forrester’s latest report—The Forrester Wave™: Enterprise Performance Management, Q4 2016—is hot off the presses and it’s big news for us.
Adaptive Insights was among the leaders in this report. We received the highest scores possible in usability and integration and data quality. On the heels of being named a Leader in the 2016 Gartner Strategic CPM Magic Quadrant report, Adaptive Insights is now the only cloud-only company to be named a Leader in both Forrester and Gartner reports.
Corporate performance management comes of age
Continuing to demonstrate a coming of age for enterprise performance management (also known as EPM or corporate performance management), the report indicates a preference and shift in the industry toward cloud-based solutions to manage corporate performance and identifies the key vectors driving growth in the EPM space.
Forrester estimates that “while 80% of the existing installed base uses traditional on-premises EPM solutions, the shift to SaaS is well underway.” The firm goes on to say it expects “SaaS to become the primary deployment model for EPM solutions and newer SaaS solutions to replace most on-premises installations in the next five years.”
But SaaS isn’t the only capability driving EPM innovation. As the market matures, key innovations fueling growth include optimized mobile experiences, social collaboration, and advanced analytics that leverage in-memory computing.
In-memory computing architectures, such as the one used as the technology foundation for the Adaptive Suite, store one set of data in memory without requiring it to be “replicated” to multiple persistent stores. This results in fast propagation of data for real-time analytics and reporting, while allowing users to confidently operate from a single source of data.
Key innovations drive EPM market growth
It’s not surprising that real-time architectures and innovations in collaboration and analytics are driving growth in the EPM space. According to a 2015 study of over 400 CFOs, companies face significant data challenges with respect to the accuracy and timeliness of data. CFOs reported that keeping data siloed (69%) and having inaccurate data for forecasting and planning (40%) were among the top financial mistakes most companies make. As a result, they are seeking solutions that will bridge the data divide across their organizations and better manage their corporate performance.
Forrester evaluates 10 SaaS vendors based on 36 criteria
The Forrester Wave identifies and categorizes the 10 companies Forrester considers the most significant vendors in the EPM space and uses 36 criteria to evaluate them. Of those 10, Adaptive Insights has been named a Leader, with the report stating that the company’s solution is “easy to use and has a straightforward planning and modeling capability that makes it faster and less costly to deploy than most EPM solutions.”
With the highest scores possible in usability and integration and data quality, Forrester says the Adaptive Suite is a good choice for both “medium-size organizations with a preference for SaaS as well as large companies looking for rapid time-to-value and planning flexibility.” With by far the largest customer base in the pure-play cloud EPM space, we’re pretty sure our more than 3,000 customers agree.
Learn how and why to increase line managers’ engagement to maximize your return on investment in corporate performance management solutions. Achieve better operational insight, increase alignment around strategy, and gain greater organizational agility by watching this webcast. Effective CPM: Integrating Finance and Operational Planning