Gartner Magic Quadrant Recognizes Oracle EPM Cloud
Author: David Silverstrim | 5 min read | November 7, 2019
This year, Gartner’s Magic Quadrant has recognized Oracle for Cloud Financial Planning and Analysis Solutions. For the third year in a row, Oracle is named for their visionary and agile cloud performance management solutions.
The Gartner report cites Oracle’s EPM Cloud as the most reliable since it can flawlessly align across multiple enterprise resource planning systems and operational processes. Among the 15 companies considered, Oracle stands out for providing an innovative product that meets the market needs. Oracle EPM Cloud appears to be a future-proof for companies that want to stay abreast of financial planning technologies.
According to the report, the market leader has been investing and innovating its cloud financial planning and analytic solutions to such a degree that it now dictates the direction of the industry. Hence, by producing a solution that attracts a large and growing customer base, Oracle has demonstrated a high level of success as compared to other market leaders. Oracle EPM Cloud acts as the standard for which niche and emerging vendors measure their performance.
“The leaders enjoy high visibility in the market,” the report cited. In addition to a vast customer base, the company has significant resources to engineer breakthrough cloud financial solutions that could change the trajectory of the industry.
Oracle EPM Cloud has been able to stay atop the industry for three years because its systems support broad market requirements. However, it may fail to meet the specifications of vertical markets and other specialized segments of the market.
Hari Sankar, the Group Vice President in the Product Management department at Oracle, said, “we believe this report further validates our product strengths, investment focus and customer successes.” The statement mirrors Oracle’s commitment to delivering valuable technologies and solutions that improve customer successes and experiences. According to Gartner’s report, Oracle is a leader because of its product strategy, business model, and vision.
In 2018, Oracle EPM Cloud was named the global leader in “IDC MarketScape: Worldwide Enterprise, Performance Management and Analytical Applications.” As per the report, “Oracle’s customers were pleased with the performance of the product at a global level… End users could seamlessly move from the on-premises Hyperion product to Oracle EPM Cloud.” The IDC report buttresses Sankar’s sentiments that Oracle is enabling companies to break geographical barriers with great agility. Oracle’s solution integrates with myriad cloud operations allowing companies solely relying on EPM cloud for financial planning and analytics to enjoy optimal performance and productivity.
Indeed, Oracle EPM Cloud provides a comprehensive financial close through its integrations with various SaaS applications including Enterprise Resource Planning (ERP), Supply Chain Management (SCM), Human Capital Management (HCM) and Customer Experience (CX). Gartner attributes Oracle’s popularity to its ability to create a system that elevates business outcomes. As technology paces, Oracle is expected to align its innovations around morphing technologies while improving customers’ experiences in their journey to cloud financial planning and analytics.
Cloud applications and solutions are increasingly becoming reliable and scalable options for various enterprises but many face challenges in choosing the right systems for their business. You can contact our Datavail EPM team to discuss whether Oracle EPM Cloud is the right solution for you.
