The Latest Trends in EPM - OneStream Software
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The Latest Trends in EPM

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The market for financial EPM solutions is changing. There’s an undeniable shift to the cloud, where functionality can be easily updated and there are no upfront hardware or maintenance fees. You’ve probably heard all the benefits of migrating to the cloud. There’s also a new trend in the market — new players have joined the game, disrupting EPM technology with unified platforms.

Increasing Demand for Cloud Solutions

Gartner has found that more and more EPM customers are requesting cloud deployments. These deployments come with all the benefits of software-as-a-service (SaaS) — it’s managed remotely on a monthly-based subscription on a public cloud.

The three types of cloud service vendors identified by Gartner were:

 

Advancements in Cloud EPM Technology

The finance office is seeing improvement to the financial close process due to the shift to the cloud and growing EPM cloud market, according to Gartner. The functionality of these cloud services is improving processes that once relied heavily on the use of spreadsheets. The new cloud financial EPM trends include:

Disruption in the EPM Industry

This year, the Magic Quadrant includes some new players making a wave in the world of EPM. With the biggest players pushing on-prem customers to the cloud, more organizations are considering solutions that were once outside the norm.

Many of these solutions include an integrated platform (like OneStream), promising to bring the office of finance together through shared technology. On these unified platforms, your financial close and consolidation solution will share the same space as your planning and forecasting solution. These solutions aim to make your finance functions more comprehensive and often include drill-through and drill-back capabilities.

To learn more about one of the technologies listed in Gartner’s report, download the eBook…

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-Michelle Heath

Michelle Heath is a Content Manager at US-Analytics, covering product updates, industry trends, and best practices in CPM technology.

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