We recently received the great news that Adaptive Insights was named a Leader in the 2016 Gartner Magic Quadrant for Strategic Corporate Performance Management (SCPM) Solutions report. Even more exciting, we are now the first and only cloud corporate performance management (CPM) solutions vendor to ever ascend to Gartner’s Leader Quadrant for SCPM.
This is a big step forward for Adaptive Insights and a giant leap for our industry, as well as the scores of FP&A professionals seeking to make more strategic contributions to their organizations.
It also affirms that the cloud has unequivocally gone mainstream in the CPM space, with rapidly increasing adoption and acceptance of CPM technology that improves how FP&A does business and drives strategic value.
The path to broader cloud acceptance
Gartner’s recognition validates our long-standing vision to bring revolutionary change to an industry ripe for disruption. From the start, the technological foundation for our pioneering approach has been the capabilities and flexibility made possible by the cloud. And the use of CPM software is expanding beyond the finance department to other parts of the organization, allowing business leaders to participate in and own business performance.
Our thinking has been borne out by the numbers. Last October, a survey by International Data Corporation found the percentage of total IT infrastructure spending devoted to the cloud accounts for a full third of the overall end user spending on enterprise IT infrastructure, while spending on traditional non-cloud environments is on the decline. Finance leaders agree. CFOs stated that 33% of their infrastructure today was cloud and expected that number to grow to 60% by 2020, according to the Adaptive Insights CFO Indicator Q1 2016 report.
When it comes specifically to CPM, the cloud is clearly at the center of ongoing innovation and opportunity—a fact being embraced to one degree or another by all the players in this space, including the long-standing legacy providers.
We welcome their entry into the CPM space, as it signals an industry-wide commitment to helping finance professionals play a more strategic role and contribute to business performance.
Adaptive Insights: Committed to innovation
As we move to the next phase of our growth, we remain committed to the innovation that enabled this sea change in the industry and, in January, helped us hit our 3,000th customer milestone.
New innovations in our latest offering, cloud CPM, include a number of firsts to the cloud CPM industry, such as self-service data integration for finance, patent-pending data visualization in the planning process for any-time trend analysis, and even tighter integration with Microsoft Office to enable users to work the way they want to work.
We are thrilled about our status as a leader and what it represents—both for our company and our industry as a whole. Clearly, Adaptive Insights is being recognized for firmly planting the cloud flag in previously uncharted territory. Now, with cloud a mainstream driver of innovation, CPM is poised to help finance pros take more steps forward by maximizing their potential to add unprecedented value to their organizations.
That’s a giant leap for all of us.
For more information, download the full Gartner 2016 Magic Quadrant Strategic Corporate Performance Management Solutions Report here.
Written by Rob Hull, founder & chairman of Adaptive Insights.