The 2014 Gartner Magic Quadrant for Corporate Performance Management Suites(CPM) notes that many CPM vendors are
branching into industry-specific capabilities. Which vendors are specializing in what industries?
One of the biggest signs that the CPM software market is maturing is that vendors are increasingly talking about industry-specific capabilities. The longest-tenured vendors, such as IBM, Oracle, SAP, Infor, Longview and Board, all have experience supporting a wide variety of verticals. But beyond these veteran organizations, many startups have also begun providing vertical-specific selling points.
In general, CPM vendors focus on industries that have complex supply chain and finance requirements. Accounting, healthcare, logistics, manufacturing, retail and consumer packaged goods and utilities all fit this category due to the complexity of their business structures and industry-specific compliance issues. While most CPM vendors have subject matter expertise in these industries, it is rare to see vendors specifically concentrate on a single vertical. Instead, vendors usually choose a set of verticals to focus on based on their software fit, expertise and breadth of options.
Newer CPM vendors often go to market as being easier to implement and use, so they target industries that must scale or move quickly to capture market opportunities. This "need for speed" message finds a receptive audience among IT software and service organizations, communications and media companies, as well as food and beverage companies and education organizations, since they all have compressed business cycles and need to quickly adjust to varied client needs. Newer CPM vendors, such as Adaptive Insights, Axiom, Bitam, Host Analytics, Prophix, Tagetik and Tidemark, champion their agility and ease of use to gain adoption when older offerings are seen as overly complex.
With the caveat that most experienced vendors in this space have a wide scope of vertical expertise, the following vendors have put special focus on certain verticals based on their marketing collateral and events:
Adaptive Insights: Education, financial services, healthcare, manufacturing, non-profit, professional services, retail, utilities
Axiom EPM: Education, financial services, healthcare, manufacturing, professional services, retail
Bitam: Financial services, government, healthcare, logistics, retail, manufacturing, logistics
Host Analytics: Education, financial services, food and beverage, healthcare, hospitality, non-profit, manufacturing, media, pharmaceuticals, retail, services, technology
Prophix: Education, financial services, healthcare, pharmaceuticals, retail, transportation, utilities
Tagetik: Construction, financial services, healthcare, manufacturing, media, retail, telecom, utilities
Tidemark: Consumer packaged goods, education, food and beverage, healthcare, insurance, manufacturing, professional services, retail, technology
About the author:
Hyoun Park is a founder and principal consultant at DataHive Consulting. He focuses on the intersections of social media, "big data" and human insight to develop enterprise technology solutions. For the past 20 years, Park has focused on harnessing the transformative power of the web, social media, enterprise mobility and the cloud while responsibly sticking to a budget. Follow him on Twitter @hyounpark.
Dig deeper on Corporate Performance Management Software
Related Q&A from Hyoun Park
Faster closes are a perennial goal for finance departments. These five tips can streamline your process.continue reading
Hyoun Park lists critical features finance managers should look for when evaluating treasury management software.continue reading
Many large companies have more than one core financial system, which can inhibit data visibility. Learn how and when to consolidate.continue reading
Have a question for an expert?
Please add a title for your question
Get answers from a TechTarget expert on whatever's puzzling you.