Prophix is an established provider of financial performance management (FPM) software for planning and budgeting, forecasting, analysis and reporting, and managing the financial close and consolidation process. Its eponymous software is designed specifically for midsize companies or midsize divisions of larger corporations. These organizations are a distinctive segment of the market in that they have almost all the functional requirements of large enterprises but have fewer resources to apply to these critical tasks. Fortunately, the evolution of information technology over the past decade has been especially beneficial to midsize customers, bringing them expanded capabilities, substantially better performance and greater automation of routine tasks at an affordable total cost of ownership.
Topics: Planning, Office of Finance, Reporting, Budgeting, Consolidation, Continuous Planning, Analytics, Business Intelligence, Collaboration, Financial Performance Management, Integrated Business Planning, accounting close, Price and Revenue Management, Work and Resource Management, Sales Planning and Analytics
In 2016 Unit4 acquired Prevero, a financial performance management software company. The acquisition reflects a trend toward the convergence of transactional and analytical business applications. ERP and financial management software vendors increasingly are adding analytic capabilities – especially in financial performance management (FPM) – to the core functions of transaction processing and accounting in order to broaden the scope of their offerings. The integration of transaction processing and analytical software is especially valuable to Unit4’s core customer base of midsize organizations, which we define as those with 100 to 1,000 employees. Midsize entities have almost the same systems requirements as larger ones but lack the resources the latter enjoy.
Topics: Marketing, Office of Finance, Continuous Planning, Analytics, Business Intelligence, Cloud Computing, Collaboration, Workforce Management, Financial Performance Management, FPM, Work and Resource Management, Operations & Supply Chain, Sales Planning and Analytics
Longview recently completed the acquisition of Tidemark Systems, a planning software vendor. Longview Plan powered by Tidemark is a suite of cloud-based applications that enable corporations to plan, assess performance and communicate results more effectively. The software facilitates what Ventana Research calls “continuous planning.” This is a highly collaborative, action-oriented approach to planning that relies on frequent, short cycles to rapidly create and update integrated company-wide operational and financial plans. This structural approach makes it easy for individual business functions to create their own plans while enabling headquarters to connect those plans to create a unified view. Viewed in the long term, this acquisition provides Longview with a platform that will enable it to apply its existing on-premises intellectual property to a broader suite of web-based performance management and tax applications.
Topics: Mobile, Office of Finance, Recurring Revenue, Continuous Planning, Analytics, Business Intelligence, Financial Performance Management, Price and Revenue Management, ERP and Continuous Accounting, Sales Planning and Analytics
Ventana Research defines financial performance management (FPM) as the process of addressing the often overlapping people, process, information and technology issues that affect how well finance departments operate and support the activities of the rest of their organization. FPM deals with the full cycle of finance department activities, which include planning and budgeting, analysis, assessment and review, closing and consolidation, internal financial reporting and external financial reporting, as well as the underlying information technology systems that support them.
Topics: Mobile, Human Capital Management, Office of Finance, Recurring Revenue, Continuous Planning, Analytics, Business Intelligence, Financial Performance Management, Price and Revenue Management, ERP and Continuous Accounting, Sales Planning and Analytics
Zuora, a subscription commerce and billing software company, recently acquired Leeyo, a company that provides software that automates the revenue recognition and forecasting processes. The terms were not disclosed. The acquisition is relevant to subscription-based businesses because of changes to accounting standards about to go into effect that will have a significant impact on how they account for their revenue. Leeyo and Zuora already have been deployed together with multiple ERP systems. The combined company plans to tighten integration between the two going forward.
Topics: Customer Experience, Human Capital Management, Office of Finance, Continuous Planning, Contact Center, Financial Performance Management, Enterprise Resource Planning, ERP and Continuous Accounting