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The Emerging Leaders in Performance Management, Part 2

Originally published October 13, 2009

In Part 1 of this article we looked at two emerging leaders of business performance management (BPM) who had been around for many years but had recently gained new momentum. This month we are going to examine two vendors who entered the U.S. market in the past few years, but hit the ground running. If you are trying to break into an established market, the best way to do that is by offering something unique and innovative, and both of these vendors have done that in spades.

Tagetik already a leader in its native Italy, saw an opportunity in the U.S. market. After OutlookSoft and Hyperion became part of larger vendors (SAP and Oracle, respectively), the management team at Tagetik, some of whom came from those same companies, saw the need for a strong, ERP independent, financially focused and unified solution. Targeting the core financial budgeting, consolidation and reporting aspects of performance management, the Tagetik solution is built on a financial process platform. This enables them to extend the range of BPM and offer complementary applications such as cash management, credit and collections, and several others. A benefit of starting life in Europe is that the product was built from the ground up to fully support IFRS (International Financial Reporting Standards). Their consultants are obviously up to speed on IFRS implementations as well. When the U.S. finally moves forward with the adoption of these standards, Tagetik will have an additional edge over many of its rivals. Most recently, Tagetik has announced collaboration improvements in its offering by leveraging Microsoft’s SharePoint platform. As it stands now, they have already won some sizable deals over their well established competition. This is confirmation that the U.S. performance management market continues to expand and always has room for additional unique solutions.

Carpio comes to the U.S. by way of Brazil. They came to the U.S. with a product that has a depth of functionality reminiscent of some of the leading vendors. They obviously did their homework and offer one of the more robust consolidation modules in the market today. But their product offers more than just a consolidation engine – it covers most areas of financial and operational performance management. What is truly driving their market momentum though is the most unique aspect of their offering: full support for MicroStrategy. As you would expect, this means tight data integration, but it also includes an impressive adoption of the MicroStrategy look and feel. Users of MicroStrategy’s business intelligence tools will probably not even realize they are in a different product when they launch the Carpio solution. For the many MicroStrategy customers out there, this is a no brainer – if you are looking at business performance management, Carpio needs to be part of your evaluation. MicroStrategy itself has been a laggard in the overall performance management application arena (although they do offer an impressive performance dashboard). Realizing this, they have been working very closely with Carpio and assisting with marketing the Carpio solution. With its comprehensive feature set, the Carpio product is being evaluated by many non-MicroStrategy shops as well. All of this makes them one of our emerging leaders for 2009.

Carpio and Tagetik, as well as the companies we discussed last month, Longview and PROPHIX, are able to hold their own against the established leaders of business performance management. The overall market leaders aren’t standing still though, as they continue to grow their client bases and expand their offerings. The large established leaders include IBM/Cognos, Oracle, SAP and SAS. Each of these leaders should be on your short list if you already have an investment in their technology platforms, but it is also helpful to consider independent BPM providers that focus on supplementing these systems. There are also vendors that are the leaders of their chosen niche. For example, Adaptive Planning has shown great innovation and tremendous momentum in the category of software as a service (SaaS) BPM vendors.

What this all means to the prospective BPM purchaser is that there is a rich array of rapidly evolving choices to consider. Those companies that don’t thoroughly document their requirements and don’t evaluate the broader market of BPM solutions are doing themselves a great disservice. If they just go by default with a solution they’ve used before at another company, or just go to their provider of transactional or business intelligence software, they are increasing the risk that they may miss meeting some of their key requirements, or they may risk spending more than they need. In today’s tight economy and competitive world, who can afford to do that?

  • Craig SchiffCraig Schiff

    Craig, President and CEO of BPM Partners, is a pioneer in business performance management (BPM). Craig helped create and define the field as it evolved from business intelligence and analytic applications into BPM. He has worked with BPM and related technologies for more than 20 years, first as a founding member at IMRS/Hyperion Software (now Hyperion Solutions) and later cofounded OutlookSoft where he was President and CEO.

    Craig is a frequent author on BPM topics and monthly columnist for the BeyeNETWORK. He has led several jointly produced webcasts with Business Finance Magazine including "Beyond the Hype: The Truth about BPM Vendors," the three-part vendor review entitled "BPM Xpo" and "BPM 101: Navigating the Treacherous Waters of Business Performance Management." He is a recipient of the prestigious Ernst & Young Entrepreneur of the Year award. BPM Partners is a vendor-independent professional services firm focused exclusively on BPM, providing expertise that helps companies successfully evaluate and deploy BPM systems. Craig can be reached at cschiff@bpmpartners.com.

    Editor's Note: More articles and resources are available in Craig's BeyeNETWORK Expert Channel. Be sure to visit today!

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