Analytics and business intelligence (ABI) platforms enable less technical users, including businesspeople, to model, analyze, explore, share and manage data, and collaborate and share findings, enabled by IT and augmented by artificial intelligence (AI). ABI platforms may optionally include the ability to create, modify or enrich a semantic model including business rules.
The financial close market includes capabilities that support and automate the close, consolidation and reporting processes of the overall finance record to report process. Within these are composable vendor applications that enable the business process of closing the accounting books and reporting results.
Financial planning and analysis (FP&A) solutions support the office of finance's budgeting, planning and forecasting efforts. Many also supplement the office's budgeting and planning process support with modeling, collaboration analytics and performance-reporting capabilities, to increase its ability to manage performance by linking corporate strategy and execution. The FP&A market is accelerating its shift from mature on-premises offerings to cloud solutions. New solutions built or significantly rearchitected as cloud services are typically easier to use and maintain than the previous generation of on-premises offerings. The vast majority of new FP&A sales are cloud-based. On-premises options still exist, but all vendors have greatly de-emphasized them or eliminated them entirely from their sales process. All the vendors in this market sell and support cloud-based FP&A solutions.
xP&A is the evolution of planning, combining financial and operational planning on a single composable platform. It “extends” traditional FP&A solutions focused solely on finance into other enterprise planning domains such as workforce, sales, operations and marketing. These early maturity market solutions offer reference architectures, proprietary data models, configurable applications and other capabilities enabling the integration and alignment of financial and operational plans. xP&A seeks to provide better informed and timely decision making to meet tactical and strategic objectives.
Gartner defines Financial Planning Software as the key tool that enables organizations to manage their enterprise-wide financial planning, forecasting, and budgeting processes. Financial Planning Software allows finance organizations to plan and analyze business financial strategy for the organization across all three financial statements (profit and loss, balance sheet, and cash flows). It supports modeling, collaboration, analytics, and performance-reporting capabilities, all of which enhance a user’s ability to manage financial performance.
The market for retail assortment management applications (RAMAs) is composed of multichannel retail companies (that is, retailers with stores as well as online and mobile channels) seeking assortment management applications that address business-critical merchandising business processes. Specifically included are Tier 1 general retailers (those with annual retail revenue greater than $3 billion) as well as apparel and specialty top-tier retailers (those with greater than $1 to $3 billion annual retail revenue). There are more than 250 global retailers operating in this market. RAMA products support activities and business processes that are critical to the fulfillment of customers' needs.