OneStream secures leading position in the 2020 IDC MarketScape for Cloud EPM
Leading corporate performance management provider OneStream Software has gained a leading position in the 2020 IDC MarketScape for Cloud EPM Software category.
OneStream is renowned for its detailed and flexible platform and for XF Marketplace, a service providing more than 50 solutions that can be configured and implemented to manage additional requirements without involving any further complexities.
The latest report provides details on the significant growth at OneStream, its recent success in the EPM market and the establishment of several large enterprise accounts, including the addition of 5 customers equating to revenue of over $1M in annual recurring revenue. According to the report, OneStream provides a great deal of flexibility in terms of deployment options and a range of pricing options to meet customer requirements. The user interface is new, simplistic and enables customers to exactly see what stage they are in their workflow.
Chandan Gopal, research director for analytics and information management at IDC explains that EPM is a vital tool for executive planning and decisions. Mr Gopal states that it enables enterprises to plan and generate varied scenarios, a critical service in volatile business conditions. Modern EPM allows users to make plans across multiple business areas and determine the potential impact of various changes, enabling enterprises to make clear and strategic data-driven decisions.
The recognition of the value of EPM builds on the progress and success OneStream has achieved this year, despite the impacts of the global pandemic. This includes the addition of 60 new customers in Q3 and gaining 160% year-on-year growth in sales for the last quarter.
Tom Shea, CEO of OneStream Software, explains that this recognition as a leader in the IDC MarketScape validates their mission to deliver 100% customer success via a platform that unifies and streamlines vital financial processes. In today’s disruptive and volatile markets finance teams need to be capable of being agile. Mr Shea highlights that their business focuses on combining traditional finance processes as well as delivering the vital insights required to provide agile decision making for customers.
The IDC MarketScape study reviews EPM software vendors worldwide in 2020 via the IDC MarketScape methodology. This review includes quantitative and qualitative features of EPM applications across the markets, specifically looking at planning, budgeting and forecasting tasks, specifically related to finance.
IDC analysts generate individual vendor scores and positions through detailed surveys and interviews with the vendors, using publicly available information, as well as end-user experiences to determine an accurate and reliable assessment of each vendor’s capabilities.
The full IDC report can be viewed, here.