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gartner magic quadrant

Workday Named a Leader in the Gartner Magic Quadrant for Financial Planning Software

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Workday has been recognized as a Leader in the 2024 Gartner® Magic Quadrant™ for Financial Planning Software for the third consecutive year. This year’s Magic Quadrant for Financial Planning Software includes Anaplan, Board, IBM, Insightsoftware, Jedox, Kepion, OneStream, Oracle, Pigment, Planful, Prophix, SAP, Strata (formerly Syntellis), Vena, Wolters Kluwer and Workday.

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The Gartner Magic Quadrant evaluates vendors based on their ability to execute and completeness of vision, classifying them as Leaders, Challengers, Visionaries or Niche Players.

Read a copy of the Magic Quadrant and learn:

  • Market dynamics and key trends
    • Shifts towards agile financial planning
    • Data integration and cross-functional collaboration
    • The rise of artificial intelligence (AI) and predictive analytics
    • Cloud adoption and scalability
    • Focus on user experience
  • Challenges facing the industry
    • Adoption gaps
    • Data silos
    • Balancing customization and standardization
  • Why Workday was named a Leader – strengths
    • Performance monitoring
    • Management insights and dashboards
    • Certified implementations

The financial planning software market is poised for continued growth, driven by the increasing demand for agility, integration and advanced analytics. Vendors like Workday are leading the charge by providing solutions that not only meet today’s needs, but also anticipate future challenges.

For organizations considering a move to modern financial planning tools, the Gartner Magic Quadrant serves as an invaluable resource to identify vendors best suited to their needs and strategic goals. As the market evolves, adaptability and innovation will remain key differentiators in this competitive space.

Read the report. 

Revelwood is dedicated to helping the Office of Finance succeed through the strategic use of technology. We have a nearly 30 year history helping CFOs and FP&A leaders modernize and transform the Office of Finance. Our approach is to focus on your success, speak business first and to leverage best-in-class technology that suits your organization’s unique needs. Contact us at info@revelwood.com to start a conversation on how we can help your Office of Finance be thes best it can be.

More from our FP&A Done Right Series:

Recommendations from the 2024 CFO Study

FP&A Maturity Assessment: Where Do You Rank?

Solving Financial Reporting Challenges

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Workday Named Customers’ Choice in Gartner “Voice of the Customer” for Financial Planning Software Report

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Workday has placed in the upper right, Customers’ Choice quadrant for Financial Planning Software for its Workday Adaptive Planning solution, with a 96% recommendation rating.

Gartner’s Voice of the Customer for Financial Planning Software covers software that uses reporting, modeling and analytics functions to enable automation of the organization’s financial planning processes. 

Gartner’s “Voice of the Customer” synthesizes Gartner Peer Insights’ reviews. Gartner Peer Insights has published 1077 reviews and ratings for the financial software market. Vendors are then placed in one of four quadrants – Customers’ Choice, Established, Strong Performer and Aspiring. This report covers the following vendors: Anaplan, BOARD International, IBM, Jedox, OneStream, Oracle, Pigment, Planful, Prophix, SAP, Vena, Wolters Kluwer and Workday. 

Here are Gartner’s findings for Workday Adaptive Planning.

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Read the report to learn how Workday’s recommendation rating compare to other vendors in the market.

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Financial Close and Consolidation Solutions Report

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Gartner’s most recent Magic Quadrant for Financial Close and Consolidation Solutions includes our partner, BlackLine. According to Gartner, “Financial close and consolidation solutions support automation, compliance and collaboration within an organization’s group close, consolidation and reporting processes.” 

Market Overview

This Gartner report includes a market overview, which states that “financial close and consolidation is a crucial priority in today’s controllership finance transformation efforts.” The research firm highlights some important trends in the market. These include:

  • Increasing investments in disclosure and regulatory reporting
  • Enhanced implementation and adoption support
  • Greater collaboration demands
  • Robust partnerships
  • Increase in AU use cases within product roadmaps

The report explains that the must-have capabilities of these solutions are:

  • Close management
  • Financial consolidation
  • Financial reporting

Additionally, these solutions should include the following standard capabilities:

  • Financial statement reconciliation
  • Journal entry processing

Gartner also lists optional capabilities, such as:

  • Financial reporting risk management
  • Disclosure management

This Magic Quadrant includes 14 market leaders – BlackLine, Board International, Fluence Technologies, IBM, Insightsoftware, Jedox, LucaNet, OneStream, Oracle, Planful, Prophix, Solver, Vena and Wolters Kluwer. 

According to Gartner, “An innovative solution is its [BlackLine’s] Financial Reporting Analytics, which provides consolidation, real-time visibility and drill-down capability from consolidated financials to transaction-level details… In 2024, BlackLine plans to introduce BlackLine Accounting Studio, a new orchestration layer providing transparency, control and automation across end-to-end accounting processes.”

Read this report to learn more about BlackLine and the market for Financial Close and Consolidation Solutions.

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Workday Adaptive Planning Named a Leader in Gartner’s 2023 Magic Quadrant for Financial Planning Software

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Workday has been named a Leader for Workday Adaptive Planning in the 2023 Gartner® Magic Quadrant™ for Financial Planning Software. Gartner defines Leaders as those vendors “in the strongest position to influence the market’s growth and direction and are quick to provide mature offerings that meet market demand …They demonstrate a market-defining vision of how financial planning software can help FP&A leaders achieve their business objectives by providing oversight into financial and key operational data and enabling data-driven decisions, trend identification and essential insights for enterprise-wide planning.”

Workday was included in the Leader quadrant as a result of its implementation strategy, offering strategy and reporting tools.

According to Gartner, “The financial planning software market has shifted to meet the needs of FP&A leaders who are now seeking more agile processes to navigate the evolving landscape of enterprise-level risks, including the need for real-time predictive insights and flexibility in financial strategies … Additionally, these solutions provide adaptability and collaboration for tighter operational and financial performance feedback loops, extending their adoption across the enterprise.”

The annual report provides insight and analysis on vendors who deliver solutions that “facilitate FP&A transformation and covers planning, budgeting, forecasting, modelling, performance reporting and agile insights.” It also details five “noteworthy” trends in the market:

  • Increasing investments in AI/ML predictive capabilities
  • Greater transparency in AI/ML predictive results
  • Enhanced IBP (integrated business planning) through extended financial processes
  • Evolution of NLP (natural language processing)
  • Increases in cross-functional collaboration

This year’s Magic Quadrant provides insight and analysis on the following vendors in the market:

  • Acterys
  • Anaplan
  • Board
  • IBM
  • Insightsoftware
  • Jedox
  • Keplon
  • OneStream
  • Oracle
  • Planful
  • Prophix
  • SAP
  • Vena
  • Wolters Kluwer
  • Workday

Read the report today!

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Incorta Recognized in 2023 Gartner Magic Quadrant for Analytics and BI Platforms

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Our newest technology partner, Incorta, was recently one of only 20 vendors recognized in the 2023 Gartner Magic Quadrant for Analytics and BI Platforms. Gartner describes analytics and business intelligence (BI) platforms as “enabling less technical users, including business people, to model, analyze, explore, share and manage data, and collaborate and share findings, enabled by IT and augmented by artificial intelligence (AI).

The analyst firm states “Data and analytics leaders must use analytics and BI platforms to support the needs of IT, analysts, consumers and data scientists … While integration with cloud ecosystems and business applications is a key selection requirement, buyers also need platforms to support openness and interoperability.”

In this Magic Quadrant, analytics and BI platform functionality includes 12 critical capabilities:

  • Automated insights
  • Analytics catalog
  • Data preparation
  • Data source connectivity
  • Data storytelling
  • Data visualization
  • Governance
  • Natural language query
  • Reporting
  • Data science integration
  • Metrics score
  • Collaboration

The report includes the following analytics and BI platform vendors: Alibaba Cloud, Amazon Web Services, Domo, GoodData, Google, IBM (IBM Cognos Analytics with Watson), Incorta, Microsoft, MicroStrategy, Oracle, Pyramid Analytics, Qlik, Salesforce (Tableau), SAP, SAS, Sisense, Tellus, ThoughtSpot, TIBCO Software and Zoho.

According to Incorta, “Being recognized as a Niche Player in [this report] is a great fit for Incorta, as our primary focus is delivering high-powered operational analytics with unlimited access to 100% of your enterprise data at speed and scale.”Access this Magic Quadrant to learn why Incorta was positioned as a Niche Player and read Gartner’s assessment, including Incorta’s strengths and cautions.

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Adaptive Insights Named a Leader in the Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions

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Our partner, Adaptive Insights, was named a Leader in the Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions. According to the report, “Adaptive Insights’ position reflects strength in its sales, marketing and product strategy, product and marketing execution, and high customer satisfaction ratings. Adaptive Insights also services more than 4,350 cloud customers.”

Adaptive Insights named Leader in Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions

The report also mentions that “reference customers for Adaptive Insights reported that their top-three product selection criteria, in order, were ease of use, functional capabilities and cloud capabilities.”

Read more analyst reports on Adaptive Insights:

Revelwood Partners Adaptive Insights and IBM Earn High Ratings in BPM Partners’s Pulse Survey

Adaptive Insights Earned Gartner Peer Insights Customer’s Choice Award for Best Cloud Financial Planning and Analysis Solution

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