Recognition follows positioning in the Leaders Quadrant in Magic Quadrant for Cloud Financial Close Solutions
OneStream Software, a leader in corporate performance management (CPM) solutions for mid-sized to very large enterprises, today announced it has been named a Leader in Gartner’s 2020 Magic Quadrant for Cloud Financial Planning and Analysis (FP&A) Solutions. OneStream was also recognized as a Leader in the 2019 Gartner Magic Quadrant for Cloud Financial Close Solutions.
Read More: DeFiner Announces Latest Investment from SNZ Holding
As finance leaders look to implement cloud planning solutions that support agile financial planning, budgeting, modeling and performance reporting, Gartner evaluated 12 cloud FP&A solution providers based on their ability to execute and completeness of vision and placed OneStream in the Leaders Quadrant.
“In a year that has forced the office of finance to undergo rapid and vast changes to its responsibilities and rapidly respond to economic disruption, we are seeing increased demand for our unified, and extensible platform for planning, reporting and analytics,” said Tom Shea, CEO of OneStream Software. “We believe OneStream’s positioning as a Leader in this year’s Gartner Magic Quadrant for Cloud FP&A Solutions reflects the power of our platform, our commitment to 100% customer success, and our unique ability to deliver new solutions to address the increasing demands on the Office of Finance even in very complex and dynamic organizations.”
The news comes in the middle of a year in which OneStream has seen increasing demand and rapid growth. In addition to a 75 percent increase in Annual Recurring Revenue (ARR), the company announced in July it had achieved a 40 percent year-over-year growth in customer acquisitions and a 67 percent increase in its global workforce.
“Many organizations continue to struggle on with spreadsheets — or cling to on-premises FP&A solutions. However, almost all migrations and new FP&A deployments have shifted to the cloud” wrote John van Decker, Greg Leiter, Robert Anderson of Gartner. “Cloud FP&A solutions offer faster time to value and are easier to design, implement, use and maintain… They also enable broader adoption by offering extensive self-service analytics. These analytics help finance users address modern demands and requirements, such as for rolling forecasts and driver-based planning.”
Read More: Germany-based QUIN Launches An Investment Advisor And Raises €1M
