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How is a Leader defined? According to Gartner: “Leaders demonstrate a market-defining vision of how core financial management systems and processes can be supported and improved by moving them to the cloud. They couple this with a clear ability to execute this vision through products, services and go-to-market strategies. They have a strong presence in the market and are growing their revenue and market share. In this market, Leaders show a consistent ability to secure deals with enterprises of different sizes and have a good depth of functionality across all areas of core financial management. They have multiple proofs of successful deployments by customers, both in their home region and elsewhere. Their offerings are often used by system integrator partners to support finance transformation initiatives.
Leaders typically address a wide market audience by supporting broad market requirements. However, they may fail to meet the specific needs of vertical markets or other, more specialized segments, which might be better addressed by Niche Players particularly.”
For buyers of software, we believe a third-party analyst like Gartner can provide valuable insights into the leading software vendors. Gartner recently published the report, “Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises,” which serves as an aid for businesses searching for the right financial management software fit for their business. As a part of their evaluation, Gartner places vendors in one of four quadrants: Leaders, Challengers, Visionaries, and Niche players. In this report, NetSuite is named a Leader.
What does this mean? We believe there are three key points to keep in mind:
- NetSuite is one of three vendors positioned in the Leaders quadrant.
- NetSuite serves businesses of all sizes across all major regions.
- NetSuite has more customers using cloud financials than any other solution
NetSuite delivers a suite that was “born in the cloud” with complete finance and accounting, billing, revenue recognition, governance, risk and compliance (GRC), global financial consolidation and more. In addition, by keeping to its vision to enable customers to grow their business, NetSuite continues to innovate to deliver a complete cloud business management suite. Recently, NetSuite introduced more than 20 major enhancements to its core application. With two planned software releases a year, customers are always on the latest version of the software with all the new features and functionality instantly available.
The demand for cloud FMS solutions is predicted to continue to grow. Gartner states that “by 2020, nearly 60 percent of large enterprises with systems up for replacement will switch from traditional on-premises licenses to SaaS or subscription licenses” and that “by 2025, demand for financial management application deployments delivered as cloud services will equate to over 65 percent of total spending in the financials market.”
NetSuite customers include some of the most innovative, fastest growing companies in business today. Read our stories on hint water, VIVOBAREFOOT and Loot Crate. Do you want a financial management solution reengineered for the cloud or one built on the cloud since day one?
Read the full Gartner Magic Quadrant for Cloud Core FMS for Midsize, Large and Global Enterprises report.
Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises, John E. Van Decker, Robert P. Anderson, Mike Guay, 29 May 2018. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.